South Korea was ranked the world's twelfth biggest economy last year, down one spot from a year earlier. <br /> According to the World Bank, South Korea's gross domestic product last year was more than one-point-five-three trillion U.S. dollars. <br />GDP is the sum of the total value of all final goods and services produced in a certain period of time.<br />South Korea's ranking has fluctuated over the years. <br />It reached 10th in 2005, before slumping to 15th in 2008. <br />And from 2015 to 2016, it rebounded to 11th. <br /> South Korea's gross national income last year jumped 14 spots from a year earlier,…coming in at almost 28-thousand-400 dollars. <br />United States topped the GDP list.<br />China was second. <br />
