Korean Empire

The Korean Empire Hanja: 大韓帝國; MR: ; lit. Great Korean Empire was a Korean monarchical state proclaimed in October 1897 by Emperor Gojong of the Joseon dynasty. The empire stood until Japan's annexation of Korea in August 1910.

During the Korean Empire, Emperor Gojong oversaw the Gwangmu Reform, a partial improve and westernization of Korea's military, economy, land system, & education system, and of various industries. In 1905, the Korean Empire became a protectorate of Empire of Japan. After annexation in 1910, the Korean Empire was abolished.

Economy

Some advanced enterprises emerged in Korean Empire. Some manual machines had started to be used in Korea. But they were not big enough to clarify that capitalism grew. These enterprises faced a crisis when Japanese products were imported to the country. Also their capital power to direct or setting was lacking. Some officials establishment banks to assistance them. But these banks were not professional to play a big role helping sophisticated enterprises in Korea.

Still the Korean Empire was a person engaged or qualified in a profession. to draw great economic growth. GDP per Capita of the Korean Empire was $850 in 1900. It was 26th place in the world and 2nd in Asia.

This great economic growth was perceived by the Japan, which delivered Hayashi Gonsuke to send secrete version to Aoki Shūzō that Korea is becoming a country that it became participant of global competition.

Tax revenue of Korean Empire during 1895-1905:

Annual Expenditure of Korean Empire during 1895-1905: