Economy of South Korea. Statistics, Data and Indicators
South Korea
| 84AA | Credit rank #26 |
| 155.38 | Quality of life #27 |
| 31 | Corruption rank#42 |
| 5 | Ease of doing business#5 |
South Korea Major Economic Indicators
| Indicator | Data | Period |
|---|---|---|
| GDP Value | 1799 USD Billion | 2021 |
| GDP Annual Growth Rate | 1.4 % | 4Q/22 |
| GDP Growth Rate | -0.4 % | 4Q/22 |
| GDP per capita | 32731 USD | 2021 |
| Inflation Rate YoY | 5.2 % | Jan/23 |
| Interest Rate | 3.5 % | Jan/23 |
| Unemployment Rate | 3.3 % | Dec/22 |
| Wages | 4264096 KRW/Month | 3416.219 USD/Month | 3Q/22 |
| Balance of Trade | -12690 USD Million | -12.69 B USD | Jan/23 |
| Current Account | -620 USD Million | -0.62 B USD | Nov/22 |
| Foreign Exchange Reserves | 429970 USD Million | 429.97 B USD | Jan/23 |
GDP Indicators
| Indicator | Data | Period |
|---|---|---|
| GDP Value | 1799 USD Billion | 2021 |
| GDP Annual Growth Rate | 1.4 % | 4Q/22 |
| GDP Growth Rate | -0.4 % | 4Q/22 |
| GDP per capita | 32731 USD | 2021 |
| Gross National Product | 464457 KRW Billion | 372.104 USD Billion | 3Q/22 |
| GDP Constant Prices | 491674 KRW Billion | 393.909 B USD | 4Q/22 |
| GDP per capita PPP | 44116 USD | 2021 |
| GDP From Agriculture | 8135 KRW Billion | 6.517 B USD | 4Q/22 |
| GDP From Construction | 21932 KRW Billion | 17.571 B USD | 4Q/22 |
| GDP From Manufacturing | 126403 KRW Billion | 101.269 B USD | 4Q/22 |
| GDP From Mining | 424 KRW Billion | 0.34 B USD | 4Q/22 |
| GDP From Public Administration | 29534 KRW Billion | 23.661 B USD | 2Q/22 |
| GDP From Services | 284030 KRW Billion | 227.553 B USD | 4Q/22 |
| GDP From Transport | 15871 KRW Billion | 12.715 B USD | 4Q/22 |
| GDP From Utilities | 12435 KRW Billion | 9.962 B USD | 4Q/22 |
Budget Indicators
| Indicator | Data | Period |
|---|---|---|
| Government Debt to GDP | 46.9 % | 2021 |
| Government Budget Value | -50848 KRW Billion | -40.737 USD Billion | Nov/22 |
| Government Spending | 90145 KRW Billion | 72.22 USD Billion | 4Q/22 |
| Government Revenues | 544975 KRW Billion | 436.612 USD Billion | Nov/22 |
| Fiscal Expenditure | 595823 KRW Billion | 477.349 B USD | Nov/22 |
| Government Budget to GDP | -5.6 % | 2021 |
| Government Spending to GDP | 38.1 % | 2020 |
| Military Expenditure | 50227 USD Million | 50.227 B USD | 2021 |
Inflation Indicators
| Indicator | Data | Period |
|---|---|---|
| Consumer Price Index (CPI) | 110 index points | Jan/23 |
| Export Prices | 118 index points | Dec/22 |
| Food Inflation | 5.77 % | Jan/23 |
| Gasoline Prices | 1.28 USD/Liter | Jan/23 |
| GDP Deflator | 111 index points | 3Q/22 |
| Import Prices | 139 index points | Dec/22 |
| Inflation Rate YoY | 5.2 % | Jan/23 |
| Producer Prices | 120 index points | Dec/22 |
| Inflation Rate Mom | 0.8 % | Jan/23 |
| Core Consumer Prices | 109 Index Points | Jan/23 |
| Core Inflation Rate | 4.95 % | Jan/23 |
| CPI Housing Utilities | 112 Index Points | Jan/23 |
| CPI Transportation | 112 Index Points | Jan/23 |
| Inflation Expectations | 3.9 % | Jan/23 |
| Producer Prices Change | 6 % | Dec/22 |
Trade Indicators
| Indicator | Data | Period |
|---|---|---|
| Current Account to GDP | 4.9 % | 2021 |
| Weapons Sales | 566 USD Million | 2021 |
| Balance of Trade | -12690 USD Million | -12.69 USD Billion | Jan/23 |
| Capital Flows | 1719 USD Million | 1.719 USD Billion | Nov/22 |
| Current Account | -620 USD Million | -0.62 USD Billion | Nov/22 |
| Exports | 46270 USD Million | 46.27 USD Billion | Jan/23 |
| External Debt | 638981 USD Million | 638.981 USD Billion | 3Q/22 |
| Foreign Exchange Reserves | 429970 USD Million | 429.97 USD Billion | Jan/23 |
| Imports | 58960 USD Million | 58.96 USD Billion | Jan/23 |
| Terms of Trade | 85.1 Index Points | Nov/22 |
| Tourism Revenues | 1161200 USD Million | 1161.2 B USD | Sep/22 |
| Tourist Arrivals | 456436 Persons | 0.456 Million Persons | Nov/22 |
Money Indicators
| Indicator | Data | Period |
|---|---|---|
| Bank Lending Rate | 5.56 % | Dec/22 |
| Gold Reserves | 104 Tonnes | 4Q/22 |
| Interbank Rate | 3.51 % | Feb/23 |
| Interest Rate | 3.5 % | Jan/23 |
| Loans to Private Sector | 11703145 KRW HML | 937.608 USD Billion | Dec/22 |
| Money Supply M0 | 163202592 KRW Million | 130.751 USD Billion | Nov/22 |
| Money Supply M1 | 1249411 KRW Billion | 1000.977 USD Billion | Nov/22 |
| Money Supply M2 | 3794691 KRW Billion | 3040.151 USD Billion | Nov/22 |
| Money Supply M3 | 5115230 KRW Billion | 4098.113 USD Billion | Nov/22 |
| Central Bank Balance Sheet | 584276 KRW Billion | 468.098 B USD | Nov/22 |
| Deposit Interest Rate | 4.52 % | Oct/22 |
| Foreign Direct Investment | 8931219 USD Thousand | 8.931 B USD | 4Q/22 |
Labor Indicators
| Indicator | Data | Period |
|---|---|---|
| Minimum Wages | 9620 KRW/Hour | 1233.144 USD/Month | 2023 |
| Retirement Age Men | 60 | 2022 |
| Retirement Age Women | 60 | 2022 |
| Unemployment Rate | 3.3 % | Dec/22 |
| Wages | 4264096 KRW/Month | 3416.219 USD/Month | 3Q/22 |
| Youth Unemployment Rate | 5.2 % | Dec/22 |
| Employed Persons | 28091 Thousand Person | 28.091 Million Person | Dec/22 |
| Employment Rate | 61.3 % | Dec/22 |
| Labor Force Participation Rate | 63.3 % | Dec/22 |
| Unemployed Persons | 948 Thousand Persons | 0.948 Million Persons | Dec/22 |
| Wages in Manufacturing | 4701178 KRW/Month | 3766.391 USD/Month | 3Q/22 |
Taxes
| Indicator | Data | Period |
|---|---|---|
| Corporate Tax Rate | 27.5 % | 2022 |
| Personal Income Tax Rate | 45 % | 2022 |
| Sales Tax Rate | 10 % | 2022 |
| 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 | 23008 GWh | Nov/22 |
| Industrial Production | -7.3 % | Dec/22 |
| Mining Production | -11.3 % | Feb/22 |
| Steel Production | 5200 Thousand Tonnes | Dec/22 |
| Car Production | 379797 Units | 379.797 Units | 2022 |
| Industrial Production (MoM) | -2.9 % | Dec/22 |
Business Indicators
| Indicator | Data | Period |
|---|---|---|
| Bankruptcies | 15 companies | Dec/22 |
| Business Confidence | 66 index points | Jan/23 |
| Corruption Index | 63 index points | 2022 |
| Corruption Rank | 31 place | 2022 |
| Ease of Doing Business | 5 place | 2019 |
| Manufacturing PMI | 48.5 index points | Jan/23 |
| Manufacturing Production | -7.99 % | Dec/22 |
| Competitiveness Index | 79.62 Index Points | 2019 |
| Competitiveness Rank | 13 | 2019 |
| Leading Economic Index | 130 Index Points | Dec/22 |
Consumer Indicators
| Indicator | Data | Period |
|---|---|---|
| Consumer Confidence | 90.7 index points | Jan/23 |
| Private Debt To GDP | 275 % | 2021 |
| Retail Sales MoM | 1.4 % | Dec/22 |
| Retail Sales YoY | -2.5 % | Dec/22 |
| Consumer Credit | 1870614 KRW Billion | 1498.659 USD Billion | 3Q/22 |
| Consumer Spending | 233085 KRW Billion | 186.738 USD Billion | 4Q/22 |
| Disposable Personal Income | 2078537 KRW Billion | 1665.239 B USD | 2021 |
| Households Debt To GDP | 106 % | 2Q/22 |
Housing Market
| Indicator | Data | Period |
|---|---|---|
| Construction Output | 10.2 % | Nov/22 |
