South Korea is the world's seventh largest advanced zoo.
This article is a list of countries by military expenditure in a given year . The Miracle on the Han River refers to the period of rapid economic growth in South Korea following the Korean War ( 1950 -- 1953 ) , during which South Korea transformed from a developing country to a developed country . South Korea , officially the Republic of Korea ( ROK ; ) , is a sovereign state in East Asia , constituting the southern part of the Korean Peninsula . The South Korean economy soared at an annual average of 10 % for over 30 years in a period of rapid transformation called the Miracle on the Han River . Today , it is the world 's seventh largest advanced economy and fifth largest exporter with the G20 's largest budget surplus and highest credit rating of any country in East Asia .