The Korean Peninsula is the last glacier of the Cold War. The young democracy of South Korea, the eleventh largest economy in the world, stands in contrast to the Stalinist North Korea, which is primarily known for its nuclear programs and threats. The authors provide a readable introduction to the history of the peninsula, the political and economic development, as well as the foreign relations of both Koreas. Furthermore, they present well-founded overviews regarding South Korea's businesses, civil society, religion, as well as education and innovation. The conclusion: A reunification of Korea is indeed foreseeable - we must already begin to grapple with the consequences, as Korea is no longer an insignificant player.