Korea emerges as top trade partner of Kuwait
Grand Mosque is the largest mosque in the State of Kuwait. / Courtesy of Embassy of KuwaitKorea and Kuwait established diplomatic relations at an ambassadorial level in June 1979. Their friendly bilateral relations in the fields of politics, trade, economy and culture have developed steadily ever since.Kuwait is situated in the northeast corner of the Arabian Peninsula, bordered by the Republic of Iraq to the north and the Kingdom of Saudi Arabia to the south and west. It also shares a maritime border with the Islamic Republic of Iran.Kuwait covers an area of 18,000 square kilometers, which is one-fifth the size of South Korea, and is home to a population of about 3.9 million, including approximately 1.56 million Kuwaiti nationals.As a member of the Gulf Cooperation Council (GCC), Kuwait has a geographically small yet wealthy and relatively open economy dominated by oil and gas production.Kuwait is the fourth-largest economy in the GCC, with a nominal gross domestic product (GDP) of $181.6 billion and a per capita GDP of $53,000 in 2013.Oil and petroleum account for 64 percent
Feb 25, 2014