manufacturing companies in the world . The mobile phones manufactured by Korean companies accounted for 66 % of the global mobile phone market in Q1 2013 , and took the share of nearly 44 % of the US market in 2012 . LCD TVs made by Korean firms took up 41 % in Q1 2013 , and now South Korea is the world ’ s 5th largest car producer . It is no wonder that Korea joined the “ trillion dollar club ” in trade volume in 2011 , which has a membership of only nine countries in the world .
Above all , it is notable that in 2010 ’ s South Korea has made four unprecedented World Records as a once-aid-recipient country
1 . South Korea has become a major donor country for the first time in its history as a once-aidrecipient country , by joining the OECD ( Organization for Economic Cooperation and Development ) DAC ( Development Assistance Committee ) in 2010 .
2 . In 2012 , South Korea joined the “ 20-50 Club ” that consists of countries with a per capita GDP of more than $ 20,000 and a population of more than 50 million . South Korea became the 7th member of the Club in the world , following the United States , Japan , Germany , France , Italy , and the United Kingdom and the first and only member that was once an aid-recipient country .
3 . In 2015 , South Korea has become the first country with international credit rating of double A that was an aid-recipient country . Moody ’ s Investors Service and Standard & Poor ’ s , two of the “ Big Three ” international credit rating agencies , upgraded the rating of South Korea to Aa2 and AA in 2015 and 2016 respectively .
4 . In 2018 , South Korea will become the first one time aid-recipient country that hosts three big international sports events : Summer Olympic Games , Winter Olympic Games , and FIFA World Cup . South Korea successfully hosted Summer Olympic Games in Seoul in 1988 and co-hosted World Cup in Seoul in 2012 . So far , only five countries in the world ( United States , Japan , Germany , France and Italy ) hosted the big three sports events and South Korea will be the sixth country .
The “ Miracle on the Han River ” is a term used to refer to South Korea ' s postwar export-fueled economic growth , including rapid industrialization , technological achievement , education boom , large rise in living standards , rapid urbanization , impressive skyscraper construction , and modernization . This growth was accompanied by a democratization and globalization that transformed the country from the ashes of the Korean War to a wealthy and developed country with a globally influential economy and prominent multinational conglomerates , such as Samsung , LG , and Hyundai-Kia .
More specifically , this phrase refers to the economic growth of Seoul , through which the Han River flows , though it is generally used in reference to the country . Also , the “ miracle ” generally refers to the miraculous economic development from 1961 and 1996 . The phrase comes from the “ Miracle on the Rhine ,” used to describe the economic rebirth of West Germany after World War II .
When General Park Chung-hee was elected president in 1963 , South Korea had a GDP per capita of less than $ 100 per year . In the 1960 ’ s , South Korea was mostly dependent on foreign aid , largely from the U . S and Japan . The Government ' s New Community Movement focused on developing rural South Korea . The strong leadership of the government , while it is criticized as repressive and heavy-handed , served as catalyst for the South Korean economic growth .
In less than four decades , Seoul was transformed into a global city , a center of business and commerce in Northeast Asia and a highly developed economic hub , laying the grounds for an advanced technological and communications infrastructure . This rapid growth is considered by Koreans as a symbol of national pride and self-sufficiency .
3-3 . Political Success ( Democracy ): to the Level of EU countries
South Korea did not only grow economically . It achieved political development as well . According to the annual democracy index by EIU ( Economist Intelligence Unit ), South Korea ranked No . 20 to 22 from 2010 to 2015 .