Achieved a place in top 15 global economies, and has stayed there 8th in terms of ‘Ease of Doing Business’ Smartphone penetration: 97%. Internet speeds (top 3 in world for last 10 years) Population: 49.8m GDP per capita: $22,424 ($2,300 in 1980) GDP growth (2011): 3.6% Inflation (2011): 4.0% Key cities: Seoul (9.8m); Busan (3.4m); Incheon (2.5m)