Transport in South Korea roads and various classifications below the national level. Almost all freeways are toll highways and most of the expressways are built, maintained and operated by Korea Expressway Corporation (KEC). The freeway network serves most parts of South Korea. Tolls are collected using an electronic toll collection system. KEC also operates service amenities (dining and service facilities) en route. There are also several privately financed toll roads. Nonsan-Cheonan Expressway, Daegu-Busan Expressway, Incheon International Airport Expressway, Seoul-Chuncheon Expressway and parts of the Seoul Ring Expressway are wholly privately funded and operated BOT concessions. Donghae Expressway was built in cooperation between KEC and
Economy of South Korea Economy of South Korea The economy of South Korea is the 4th largest in Asia and the 11th largest in the world. It is a mixed economy dominated by family-owned conglomerates called chaebols, however, the dominance of the chaebol is unlikely to last and at engenders risk of slowing down the transformation of Korean economy for the benefit of future generations. South Korea is known for its spectacular rise from one of the poorest countries in the world to a developed, high-income country in just a few generations. This economic growth is called by some a miracle, and described as