Well, nowadays, Korea is the English spelling and Corea is the Spanish spelling.

Recently, Korean scholars and politicians have begun a drive to change the official English-language name of their country to "Corea." The campaign is based on the belief that the original "C" was switched to a "K" by the Japanese at the start of their 1910-45 occupation of the peninsula so that Korea would not precede them in the English alphabetical hierarchy.

Korea = Germanic spelling, Corea = Latin spelling. @ikyuha: Hangul is the Korean word for the Korean alphabet, not Korea.

I was told that there is actually an official body in South Korea that is working to update and standardize the Romanization of a number of place names and other things. For example, Pusan is now Busan and I have heard that kimchi is actually gimchi now. I don't know if this is for historical reasons or just to help people pronounce these words more accurately.

As far as I could research Korea/Corea was made the country name by the Persians(wiki), and by the Portuguese(under several other sources). Both theories recall the name coming from the ancient kingdom of gokuryo, which was shorthened to koryo. And, with the time became Corea and finally Korea.