South Korea is a sovereign state in East Asia, constituting the southern part of the Korean Peninsula. Highly urbanized at 92%, South Koreans lead a distinctive urban lifestyle; half of them live in high-rises concentrated in the Seoul Capital Area with 25 million residents and the world's sixth-leading global city with the fourth-largest economy and seventh-most sustainable city in the world. For further information on the types of business entities in this country and their abbreviations, see "Business entities in South Korea".