Chungnam is South Korea's richest province, with a 2010 GDP per capita of $47,516, a level of living standard higher than that of the United States. It is by far South Korea's fastest growing region, with an average GDP growth of 9.7% in 2001-2007 that accelerated to 12.4% in 2010. Such rapid growth transformed it from a mostly agricultural to a highly industrialized economy in the 21st century.
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