ISHARES MSCI SOUTH KOREA INDEX FUND $56.70 (New York symbol EWY; buy or sell through brokers) aims to track the MSCI Korea Index.

The ETF’s top holdings are Samsung Electronics, 19.8%; SK Hynix Semiconductor, 4.6%; Hyundai Motor, 3.9%; Shinhan Financial, 2.8%; Naver (Internet), 2.7%; Posco (steel), 2.5%; KB Financial, 2.5%; Hyundai Mobis (auto parts), 2.4%; AmorePacifi

c (cosmetics), 2.0%; and Kia Motors, 2.0%. The fund’s industry breakdown is as follows: Information Technology, 36.1%; Consumer Discretionary, 15.7%; Financials, 14.0%; Industrials, 11.6%; Materials, 7.8%; Consumer Staples, 7.6%; Utilities, 2.1%; Energy, 1.8%; Telecommunication Services, 1.2%; and Health Care, 1.0%.

The iShares MSCI South Korea Index Fund was launched on May 9, 2000. Its expense ratio is 0.62%. South Korea has Asia’s fourth-largest economy, after China, Japan and India. It is heavily reliant on exports, but shipments to the U.S. are rebounding, offsetting weakness in Europe and China.

The steady rise of South Korea’s currency, the won, hurt its economy in 2012 and 2013 by making its goods more expensive for foreign buyers. But South Korea cut interest rates to record lows in 2014, bringing the won back down. That’s helping manufacturers export more goods.

In the longer term, the country faces an aging population, with a birth rate of 1.2 children per woman, the lowest in the developed world.

Still, Korea’s economy will likely grow by 3.3% this year and is forecast to expand as much as 3.5% in 2016. Low oil prices could push those forecasts higher—South Korea imports almost all of its oil and is the world’s fifth-largest importer, after Germany.

The country’s communist neighbour, North Korea, remains a serious threat. However, China wants peace in the region, and North Korea needs China’s continued goodwill for food and military aid.

iShares MSCI South Korea Index Fund is a buy for aggressive investors.