Who's economy is better, South Korea or North Korea?
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In 2019, South Korea's nominal gross domestic product (GDP) amounted to around 1,919 trillion South Korean won, compared to that of North Korea which was approximately 35.28 trillion South Korean won. With this, South Korea's nominal GDP was around 54 times greater than that of North Korea.
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- The economy of South Korea is a highly developed mixed economy dominated by family-owned conglomerates called chaebols. By nominal GDP, it has the 4th largest economy in Asia and the 10th largest in the world.
- In 2019, South Korea's nominal gross domestic product (GDP) amounted to around 1,919 trillion South Korean won, compared to that of North Korea which was approximately 35.28 trillion South Korean won. With this, South Korea's nominal GDP was around 54 times greater than that of North Korea.
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