2004 한국 세계10등 경제 대국

Korea as World's 10th Largest Economy

South Korea is estimated to have become the world's 10th biggest economy in terms of gross domestic product (GDP) in 2004.

According to the Korean Ministry of Commerce, Industry and Energy on Jan. 27, Korea's GDP, a measure of economic size, was estimated at $667.4 billion in 2004, up from 605.2 billion in 2003 when Korea ranked 11th in world GDP.

The figure is bigger than the $663.1 billion estimated for the 2004 GDP of Mexico, which was the world's 10th largest economy in 2003.

Per capita gross national product (GNP) was also expected to reach $14,100 in 2004, up from $12,030 in 2003.

"Considering the growth rate of per capita GNP in the past, the country could enter an era of $20,000 in 2008. In that year, the figure is forecast to hit $21,068," the report said.

Korean exports are expected to be ranked 12th in 2004. If transit exports are excluded, Korea is the world's ninth biggest exporting country ahead of Netherlands, Belgium and Hong Kong, the report pointed out.

The ranking of imports, which posted $224.5 billion, will also increase by one notch to 11th last year.

South Korea remains the world's best in ship orders and shipbuilding in 2004.

Korea was the world's fifth-largest steel producing country last year, while it placed sixth in world car production in 2003.

The country's sales of semiconductors placed second in 2004.

In particular, South Korea is believed to have topped the world in thin film transistor liquid crystal display (TFT LCD) output, sales of dynamic random access memory (DRAM) and sales of fresh memory.