Let's say somehow the Korean War ended with a united Korea (pro-West ROK with capital of Seoul). I hope that's not an ASB level premise.
What would that country be like today? Would it be as prosperous as South Korea is today or would it have been hampered trying to develop the northern part?
Well... suppose that Macarthur had some kind of health problem just after the Inchon landings, and had to retire. (He was 70, so why not?) Ridgway steps in, and avoids Macarthur's wild rhetoric about taking the war to China and using nuclear weapons. He also slows down the pursuit into North Korea, halting the UN Forces for a build-up on a line just north of Pyongyang and Hamhung, and cancels the probes to the Yalu River. Neither he nor President Truman explicitly rule out a later advance to the Yalu, though.
Nonetheless, Mao decides against intervening in Korea at that time. By December 1950, the UN front line is consolidated, with the bulk of the forces at the front and supply solidified. Kim Il-Sung has gotten some arms from Mao and Stalin, regrouped his forces, and dug in strongly (he thinks) - but continues to skirmish aggressively.
So in 1951, the UN forces resume their advance, brushing aside KIm's remnants, and close gradually to the Yalu. Mao blusters, but holds back.
The Korean War ends in May 1951.
Now I'm going to handwave consequences.
First, Korea will be substantially less damaged. I don't suppose it did Seoul a lot of good to be overrun by the Chinese and then liberated again.
Second, a lot of Koreans won't be killed.
Third, Korea's military burder will be smaller than OTL, I think. Korea will have to maintain substantial forces against Chinese attack, but the Chinese threat will be viewed less seriously than the OTL NorK threat (China has not actually fought in Korea, and its forces are distant from Korea's heart). There will be a U.S. "tripwire" force to deter any Chinese attempt at a sudden onslaught.
Fourth, Korea will have about twice the area and population. As of 1951, the two halves of the country are about equal in development (unlike today).
So my BOTE estimate is that Korea's 2016 economy could be twice the OTL RoK economy, which would boost it from 13th to 8th in the world.