Economy of South Korea. Statistics, Data and Indicators
South Korea
| 84AA | Credit rank #26 |
| 155.38 | Quality of life #27 |
| 32 | Corruption rank#42 |
| 5 | Ease of doing business#5 |
South Korea Major Economic Indicators
| Indicator | Data | Period |
|---|---|---|
| GDP Value | 1631 USD Billion | 2020 |
| GDP Annual Growth Rate | 3 % | 1Q/22 |
| GDP Growth Rate | 0.6 % | 1Q/22 |
| GDP per capita | 31265 USD | 2020 |
| Inflation Rate YoY | 5.4 % | May/22 |
| Interest Rate | 1.75 % | May/22 |
| Unemployment Rate | 2.8 % | May/22 |
| Wages | 4505228 KRW/Month | 3468.263 USD/Month | 1Q/22 |
| Balance of Trade | -2470 USD Million | -2.47 B USD | Jun/22 |
| Current Account | -80 USD Million | -0.08 B USD | Apr/22 |
| Foreign Exchange Reserves | 447711 USD Million | 447.711 B USD | May/22 |
GDP Indicators
| Indicator | Data | Period |
|---|---|---|
| GDP Value | 1631 USD Billion | 2020 |
| GDP Annual Growth Rate | 3 % | 1Q/22 |
| GDP Growth Rate | 0.6 % | 1Q/22 |
| GDP per capita | 31265 USD | 2020 |
| Gross National Product | 455547 KRW Billion | 350.694 USD Billion | 1Q/22 |
| GDP Constant Prices | 487105 KRW Billion | 374.988 B USD | 1Q/22 |
| GDP per capita PPP | 42252 USD | 2020 |
| GDP From Agriculture | 8724 KRW Billion | 6.716 B USD | 1Q/22 |
| GDP From Construction | 21443 KRW Billion | 16.507 B USD | 1Q/22 |
| GDP From Manufacturing | 134196 KRW Billion | 103.308 B USD | 1Q/22 |
| GDP From Mining | 472 KRW Billion | 0.363 B USD | 1Q/22 |
| GDP From Public Administration | 29684 KRW Billion | 22.852 B USD | 4Q/21 |
| GDP From Services | 272796 KRW Billion | 210.007 B USD | 1Q/22 |
| GDP From Transport | 14099 KRW Billion | 10.854 B USD | 1Q/22 |
| GDP From Utilities | 12729 KRW Billion | 9.799 B USD | 1Q/22 |
Budget Indicators
| Indicator | Data | Period |
|---|---|---|
| Government Debt to GDP | 42.6 % | 2020 |
| Government Budget Value | -21317 KRW Billion | -16.41 USD Billion | Apr/22 |
| Government Spending | 86413 KRW Billion | 66.523 USD Billion | 1Q/22 |
| Government Revenues | 236310 KRW Billion | 181.919 USD Billion | Apr/22 |
| Fiscal Expenditure | 257627 KRW Billion | 198.329 B USD | Apr/22 |
| Government Budget to GDP | -6.1 % | 2020 |
| Government Spending to GDP | 31.15 % | 2018 |
| Military Expenditure | 46056 USD Million | 46.056 B USD | 2020 |
Inflation Indicators
| Indicator | Data | Period |
|---|---|---|
| Consumer Price Index (CPI) | 108 index points | May/22 |
| Export Prices | 131 index points | May/22 |
| Food Inflation | 6.02 % | May/22 |
| Gasoline Prices | 1.58 USD/Liter | May/22 |
| GDP Deflator | 109 index points | 1Q/22 |
| Import Prices | 154 index points | May/22 |
| Inflation Rate YoY | 5.4 % | May/22 |
| Producer Prices | 119 index points | May/22 |
| Inflation Rate Mom | 0.7 % | May/22 |
| Core Consumer Prices | 106 Index Points | May/22 |
| Core Inflation Rate | 4.1 % | May/22 |
| CPI Housing Utilities | 106 Index Points | May/22 |
| CPI Transportation | 120 Index Points | May/22 |
| Inflation Expectations | 3.3 % | May/22 |
| Producer Prices Change | 9.7 % | May/22 |
Trade Indicators
| Indicator | Data | Period |
|---|---|---|
| Current Account to GDP | 3.5 % | 2020 |
| Weapons Sales | 827 USD Million | 2020 |
| Balance of Trade | -2470 USD Million | -2.47 USD Billion | Jun/22 |
| Capital Flows | 1689 USD Million | 1.689 USD Billion | Apr/22 |
| Current Account | -80 USD Million | -0.08 USD Billion | Apr/22 |
| Exports | 57730 USD Million | 57.73 USD Billion | Jun/22 |
| External Debt | 654098 USD Million | 654.098 USD Billion | 1Q/22 |
| Foreign Exchange Reserves | 447711 USD Million | 447.711 USD Billion | May/22 |
| Imports | 63222 USD Million | 63.222 USD Billion | May/22 |
| Terms of Trade | 85.8 Index Points | Apr/22 |
| Tourism Revenues | 785900 USD Million | 785.9 B USD | Feb/22 |
| Tourist Arrivals | 99999 Persons | 0.1 Million Persons | Feb/22 |
Money Indicators
| Indicator | Data | Period |
|---|---|---|
| Bank Lending Rate | 3.57 % | Apr/22 |
| Gold Reserves | 104 Tonnes | 1Q/22 |
| Interbank Rate | 2.27 % | Jul/22 |
| Interest Rate | 1.75 % | May/22 |
| Loans to Private Sector | 11191639 KRW HML | 861.567 USD Billion | May/22 |
| Money Supply M0 | 162180992 KRW Million | 124.852 USD Billion | Apr/22 |
| Money Supply M1 | 1370039 KRW Billion | 1054.698 USD Billion | Apr/22 |
| Money Supply M2 | 3656058 KRW Billion | 2814.546 USD Billion | Apr/22 |
| Money Supply M3 | 4977732 KRW Billion | 3832.011 USD Billion | Apr/22 |
| Central Bank Balance Sheet | 563776 KRW Billion | 434.012 B USD | Apr/22 |
| Deposit Interest Rate | 1.94 % | Mar/22 |
| Foreign Direct Investment | 5447000 USD Thousand | 5.447 B USD | 1Q/22 |
Labor Indicators
| Indicator | Data | Period |
|---|---|---|
| Minimum Wages | 9160 KRW/Hour | 1128.264 USD/Month | 2022 |
| Retirement Age Men | 62 | 2020 |
| Retirement Age Women | 62 | 2020 |
| Unemployment Rate | 2.8 % | May/22 |
| Wages | 4505228 KRW/Month | 3468.263 USD/Month | 1Q/22 |
| Youth Unemployment Rate | 7.3 % | May/22 |
| Employed Persons | 28222 Thousand Person | 28.222 Million Person | May/22 |
| Employment Rate | 61.4 % | Mar/22 |
| Labor Force Participation Rate | 64.9 % | May/22 |
| Unemployed Persons | 811 Thousand Persons | 0.811 Million Persons | May/22 |
| Wages in Manufacturing | 5232994 KRW/Month | 4028.519 USD/Month | 1Q/22 |
Taxes
| Indicator | Data | Period |
|---|---|---|
| Corporate Tax Rate | 25 % | 2021 |
| Personal Income Tax Rate | 45 % | 2021 |
| Sales Tax Rate | 10 % | 2021 |
| Social Security Rate | 19.24 % | 2021 |
| Social Security Rate For Companies | 10.11 % | 2021 |
| Social Security Rate For Employees | 9.13 % | 2021 |
Production Indicators
| Indicator | Data | Period |
|---|---|---|
| Electricity Production | 23450 GWh | Feb/22 |
| Industrial Production | 7.3 % | May/22 |
| Mining Production | -11.3 % | Feb/22 |
| Steel Production | 5800 Thousand Tonnes | May/22 |
| Car Production | 3506774 Units | 3506.774 Units | 2020 |
| Industrial Production (MoM) | 0.1 % | May/22 |
Business Indicators
| Indicator | Data | Period |
|---|---|---|
| Bankruptcies | 12 companies | May/22 |
| Business Confidence | 83 index points | Jun/22 |
| Corruption Index | 62 index points | 2021 |
| Corruption Rank | 32 place | 2021 |
| Ease of Doing Business | 5 place | 2019 |
| Manufacturing PMI | 51.3 index points | Jun/22 |
| Manufacturing Production | 7.8 % | May/22 |
| Competitiveness Index | 79.62 Index Points | 2019 |
| Competitiveness Rank | 13 | 2019 |
| Leading Economic Index | 128 Index Points | Apr/22 |
Consumer Indicators
| Indicator | Data | Period |
|---|---|---|
| Consumer Confidence | 96.4 index points | Jun/22 |
| Private Debt To GDP | 273 % | 2020 |
| Retail Sales MoM | -0.1 % | May/22 |
| Retail Sales YoY | 0.7 % | May/22 |
| Consumer Credit | 1859423 KRW Billion | 1431.405 USD Billion | 1Q/22 |
| Consumer Spending | 223209 KRW Billion | 171.829 USD Billion | 1Q/22 |
| Disposable Personal Income | 2078537 KRW Billion | 1600.081 B USD | 2021 |
| Households Debt To GDP | 107 % | 3Q/21 |
Housing Market
| Indicator | Data | Period |
|---|---|---|
| Construction Output | 8.2 % | May/22 |
