South Korea, officially the Republic of Korea, is a sovereign state in East Asia, constituting the southern part of the Korean Peninsula.It shares land borders with North Korea to the north, and oversea borders with Japan to the east and China to the west. Its capital is Seoul.Roughly half of the country's 51 million people reside in the Seoul Capital Area, Between 1962 and 1994, South Korea's tiger economy soared at an average of 10% annually, fueled by annual export growth of 20%, in a period called the Miracle on the Han River that rapidly and successfully transformed it into a high-income advanced economy and the world's 11th largest economy by 1995. South Korea is presently the world's sixth largest exporter and seventh largest importer and a G-20 and OECD DAC member.