South Korea is presently the world's fifth largest exporter and seventh largest importer and a G-20 and OECD DAC member. Since the first free election in 1987, South Koreans have enjoyed high civil liberties and one of the world's most developed democracies. Koreans are among the richest in the world, enjoying Asia's highest median income and average wage. Driven by high-tech chaebols such as Samsung, Hyundai-Kia and LG, South Korea was named the world's most innovative country in the Bloomberg Innovation Index.