ISHARES MSCI SOUTH KOREA INDEX FUND $57.58 (New York Exchange symbol EWY; buy or sell through brokers), is an exchange traded fund that aims to track the MSCI Korea Index.

The ETF’s top holdings are Samsung Electronics, 21.9%; Hyundai Motor Co., 6.0%; Posco (steel), 3.8%; Hyundai Mobis (auto parts), 3.3%; Kia Motors, 2.9%; Shinhan Financial, 2.6%; SK Hynix Semiconductor, 2.4%; LG Chemical, 2.3%; KB Financial, 2.3%; and NHN (Internet content), 1.8%.

The fund’s industry breakdown is as follows: Information Technology, 32.4%; Consumer Discretionary, 17.8%; Financials, 13.4%; Industrials, 13.2%; Materials, 10.9%; Consumer Staples, 5.9%; Energy, 3.1%; Utilities, 1.6%; Telecommunication Services, 0.9%; and Health Care, 0.8%.

iShares MSCI South Korea Index Fund was launched on May 9, 2000. The ETF has an expense ratio of 0.59%.

South Korea has Asia’s fourth-largest economy after China, Japan and India. The country is heavily reliant on exports, and China is now its biggest market. South Korea’s exports to China have slowed recently, as have its sales to the U.S. and Europe.

The country’s economy grew just 0.2% in the third quarter. But the government has implemented $12 billion in stimulus spending and has cut interest rates twice in the past few months. Those measures, plus a recovery in South Korea’s export markets, could push growth as high as 3.2% next year.

The death of North Korean leader Kim Jong-il in December 2011 put his son, Kim Jong-un, in charge of South Korea’s communist neighbour. North Korea’s nuclear weapons remain a threat. But China wants peace in the region, and the country needs China’s continued goodwill for food and military aid. As well, some reforms appear to be underway in North Korea, such as letting farmers keep 30% of their crops to encourage them to grow more. That should help combat widespread food shortages.

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