South Korea has a market economy, that is all the decisions about investment, production and distribution are based on supply and demand, and are not centrally regulated, such as by the government (in command economies).
A category of rights known as fundamental rights has been acknowledged by the Supreme Court as needing a high level of protection from intrusion by the government. These rights have been deemed to exist under due process or are expressly stated in the Constitution, particularly the Bill of Rights.
Citizens' freedoms and liberties are safeguarded by fundamental rights, which also stop authoritarian and totalitarian authority from taking root in the nation. They are crucial for the overall development of people and the nation. A constitution is a collection of guiding ideas or accepted precedents that serve as the foundation for a polity, organization, or another sort of body's legal system and frequently specify how that institution is to be governed.
The United States Constitution established the country's national government, established its core laws, and provided its citizens with a number of essential rights. Delegates to the Constitutional Convention in Philadelphia signed it on September 17, 1787.
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