The economy of South Korea is a highly developed[1] trillion dollar economy that is the fourth largest in Asia and 13th largest in the world. It is considered to be one of the world's most successful economies, which sustained double-digit economic growth for decades, growing faster than any other major economy in the 20th century. South Korea's overnight transformation to a wealthy developed country in less than half a century is often called the Miracle on the Han River and earned the distinctive reputation of "Asian Tiger" in the international community.