Business and Personal LawChapter 7: Consumer Law and ContractsGlobal LawSouth Korea South Korea, an East Asian country, is bordered by North Korea. Across the Yellow Sea to the west is China and to the southeast is Japan. The capital is Seoul, where more than half of South Korea's population resides. Korea declared its independence from Japan on August 15, 1945 and during the last thirty years has achieved strong growth and immersion into the high-tech, global economy. South Korea is a modern democracy with a reputation as a major international economic leader. The government of South Korea, outlined in the Constitution of the Republic of Korea, is divided into three branches: executive, judicial, and legislative. Since 1948, there have been six constitutions and each one outlines a new South Korea republic. The most recent one was written in 1988. The president is elected by popular vote for a single five-year term. The prime minister is appointed by the president with the consent of the National Assembly and serves as the executive assistant to the president. The elected Kukhoe, or National Assembly, is made up of 299 seats. The National Assembly members serve for four years. South Korea's legal system is a combination of Chinese law, European civil law, and American law. The justices of the Supreme Court are appointed by the president with the consent of the National Assembly. |  |
