South Korea has relied heavily on international trade due to lack of natural resources and small domestic market. It has sought to diversify trading partners to reduce dependence on a few markets. Cumulative foreign direct investment in South Korea from 1991-2006 was $40.63 billion, ranking it 9th globally. The banking sectors in both South Korea and India have grown and modernized since the 1980s through deregulation and privatization. South Korea's domestic credit levels as percentages of GDP are higher than India's.