ISHARES MSCI SOUTH KOREA INDEX FUND $65.24 (New York Exchange symbol EWY; buy or sell through brokers) aims to track the MSCI Korea Index.

The ETF’s top holdings are Samsung Electronics, 18.6%; Hyundai Motor Co., 5.5%; SK Hynix Semiconductor, 3.9%; Posco (steel), 3.4%; Naver (Internet content), 3.3%; Shinhan Financial, 3.2%; Hyundai Mobis (auto parts), 3.0%; Kia Motors, 2.5%; KB Financial, 2.3%; and LG Chemical, 2.0%.

The fund’s industry breakdown is as follows: Information Technology, 33.1%; Consumer Discretionary, 19.5%; Financials, 14.1%; Industrials, 12.7%; Materials, 9.1%; Consumer Staples, 5.7%; Energy, 1.9%; Utilities, 1.8%; Telecommunication Services, 1.1%; and Health Care, 0.8%.

The iShares MSCI South Korea Index Fund was launched on May 9, 2000. Its expense ratio is 0.61%.

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. and Europe are rebounding, offsetting recent weakness in China.

The steady rise of South Korea’s currency, the won, hurt its economy in 2012 and early 2013 by making its goods more expensive for foreign buyers. However, with inflation remaining low, at 1.4%, South Korea now has the flexibility to keep interest rates down and slow the won’s rise.

The country’s economy likely grew by 2.8% in 2013 and is forecast to expand as much as 3.8% this year.

In December 2012, South Korea elected a new president, Guen-hye, the daughter of Park Chung-hee, the country’s dictator from 1961 to 1979.

South Korea’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.