The correct answer is      (C.)  South Korea

The KOSPI, South Korea's stock market index, has put out total returns of +171% in the last five years, for annualized returns of +22.1%. Even with that appreciation, the South Korean market is still one of the biggest bargains on the planet, selling stocks at a -40% discount to those you'd find here at home. (The KOSPI trades at an average P/E of 13.1 compared to a P/E of 21.3 for the S&P 500). And better yet, there are solid double-digit yields to be had for income-focused investors.

It is likely that you have dozens of products inside your house that were at least partly made in Korea. These "Western" products are largely dependent on the high-quality manufacturers in this "Eastern" country, who are also serious players in telecom, automobile production, chemicals, and shipbuilding.

Four decades ago, South Korea's per-capita GDP was on par with the poorest African and Asian countries. But in 2004, South Korea's GDP hit a trillion dollars, and its per-capita GDP has risen to equal Greece and Spain. Inflation is moderate, unemployment is low and the country enjoys an export surplus -- something the United States hasn't witnessed for decades. Its rebuilt financial system is strong and stable, its economy is humming and its market is cheap. These trends are all favorable, and they've been sustained for a long time.

But finding Korean income opportunities still can be challenging. That's because Korean companies aren't ATMs, they're vaults. Most are run by executives who weathered Asia's financial meltdown a decade ago, and they'd rather have lots of cash in the till. All that being said, double-digit yield enthusiasts will be interested in the Asia/Pacific fund StreetAuthority Editor Nick Lanyi recently added to his High-Yield International portfolio earlier this year. This exchange-traded fund provides easy access to Far Eastern markets and carries an impressive 11.5% dividend yield. And for a strictly Korea-focused fund, Nick found one that has thrown off $17.41 in the past year -- and the fund is currently trading below $21! If you'd like to find out the names of these funds and discover other excellent income opportunities in markets all over the globe, please visit this link.