Government
South Korea has a republic form of government. It has a president and a prime minister that control the major parts of the government. The president is in control of deciding all of the important government policies. The prime minister is then appointed by the president. The role of the Prime Minister is to supervise the administrative ministries and manage the Office for Government Policy Coordination. The Prime Minister may also deliberate major national policies and attend the National Assembly meetings.
The president's cabinet is made up of at least 15-30 members. Also, there are many smaller groups, like committees, that take care of other national issues such as trade, judicial matters, agriculture, gender equality, etc. as shown below.
www.korea.net
Economy
Korea's economy was once known as one of the world's worst. Ever since 1962, Korea has been working hard to establish a stable economy and allow the nation to prosper. In less than four decades, Korea did just that and it's achievements were considered a "miracle".
Like most economies, Korea also had it's taste of a downfall amongst success. Recently, Korea pulled out of it's economic crisis that began in late 1997 vowing to overcome the problems of the past and to create a new --more advanced--economic structure. Once again, Korea is back on it's way to becoming one of the world's best economies.