Part of the country series of articles.
TRAVEL ADVISORY: EXERCISE CAUTIONThe Commonwealth advises travellers to exercise caution in this country. Some areas or circumstances may carry elevated risk. Travellers should monitor local conditions and follow the guidance of local authorities.
| Republic of Korea | |
|---|---|
| Constitutional Republic | |
 |
|
| Capital | Seoul |
| Languages | Korean, English |
| Population | 48,200,000 |
The Republic of Korea is a constitutional democracy in East Asia, occupying the Korean peninsula south of the Manchurian border. It is aligned closely with Japan, with which it shares substantial commercial ties and a long, complicated history, and also maintains a large American military presence on its territory. Korea has elections but is political authority is ultimately exercised by the military establishment. The country has operated under many constitutions since its establishment, and experienced a succession of coups under the influence of the Haengnim (a the military clique of senior officers).
The economy is dominated by large family-owned conglomerates with holdings in shipping, electronics, construction and finance. These groups resemble their Japanese counterparts closely, and their relationships with the state are similarly entangled. Korea is less industrialised than Japan and has expanded rapidly into services and finance, with Seoul now a significant regional financial centre. Living standards have risen slowly but surely in the last fifty years, mostly from the export-oriented model tightly controlled by the conglomerates.