Markets Actual Q1 Q2 Q3 Q4 2020
Currency 1129.21 1127 1135 1143 1150 1166
Stock Market (points) 2112.85 1986 1962 1938 1915 1870
Government Bond 10Y (%) 2.01 1.97 2 2.03 2.05 2.11
Overview Actual Q1 Q2 Q3 Q4 2020
GDP Growth Rate (%) 1.00 0.8 0.8 1 1.1 1
GDP Annual Growth Rate (%) 3.10 2.6 2.7 2.9 2.3 2
Unemployment Rate (%) 3.80 3.9 3.8 3.7 3.7 3.7
Inflation Rate (%) 1.30 1.8 1.9 2 2.1 2.3
Inflation Rate Mom (%) -0.30 0.6 0.4 0.4 0.3 0.2
Interest Rate (%) 1.75 1.75 2 2 2 2.25
Balance of Trade (USD Million) 4558.00 4230 5440 6450 6900 5800
Current Account (USD Million) 5063.40 9800 7500 7900 8050 9010
Current Account to GDP (%) 5.60 6.1 6.1 6.1 6.1 5.8
Government Debt to GDP (%) 38.00 39 39 39 39 40
Government Budget (% of GDP) -2.00 -2.7 -2.7 -2.7 -2.7 -3.2
Business Confidence (Index Points) 71.00 77 79.2 79.8 82 83
Manufacturing PMI 49.80 51 51.1 51.3 51.4 50.9
Consumer Confidence (Index Points) 97.20 101 101 102 102 103
Retail Sales MoM (%) 0.50 0.3 -0.7 0.4 0.7 0.9
Corporate Tax Rate (%) 25.00 25 25 25 25 25
Personal Income Tax Rate (%) 40.00 40 40 40 40 40
GDP Actual Q1 Q2 Q3 Q4 2020
GDP Growth Rate (%) 1.00 0.8 0.8 1 1.1 1
GDP Annual Growth Rate (%) 3.10 2.6 2.7 2.9 2.3 2
GDP (USD Billion) 1530.75 1622 1622 1622 1622 1700
GDP Constant Prices (KRW Billion) 400197.80 399036 401541 404068 409402 417590
Gross National Product (KRW Billion) 412026.50 397498 409708 416011 421503 429933
Gross Fixed Capital Formation (KRW Billion) 117718.70 128188 124534 118857 120426 122835
GDP per capita (USD) 26152.03 26800 26800 26800 26800 27200
GDP per capita PPP (USD) 35938.37 37400 37400 37400 37400 38201
GDP From Agriculture (KRW Billion) 6889.20 7562 7352 6956 7048 7189
GDP From Construction (KRW Billion) 16224.60 18209 17664 16695 16598 16930
GDP From Manufacturing (KRW Billion) 117011.40 114638 115383 118143 119703 122097
GDP From Mining (KRW Billion) 502.10 571 541 517 514 524
GDP From Public Administration (KRW Billion) 24188.70 24412 24643 24890 24745 25240
GDP From Services (KRW Billion) 211734.70 211463 212643 213782 216605 220937
GDP From Transport (KRW Billion) 13194.20 13090 13323 13322 13498 13768
GDP From Utilities (KRW Billion) 7859.00 7272 7961 7935 8040 8201
Labour Actual Q1 Q2 Q3 Q4 2020
Unemployment Rate (%) 3.80 3.9 3.8 3.7 3.7 3.7
Employed Persons (Thousand ) 26889.00 26830 26850 26880 27000 27500
Unemployed Persons (Thousand ) 1059.00 1060 1040 1020 1025 1110
Labor Force Participation Rate (%) 62.20 62.9 62.7 62.5 62.7 63
Labour Costs (Index Points) 109.40 142 138 119 140 142
Productivity (Index Points) 109.80 109 110 109 109 19.6
Wages (KRW/Month) 3737254.00 4167000 3832000 4075000 4041000 4236000
Wages in Manufacturing (KRW/Month) 4067903.00 4837000 4059000 4349000 4347000 4542000
Minimum Wages (KRW/Hour) 7530.00 8350 8350 8350 8350 10000
Population (Million) 51.45 51.8 51.8 51.8 51.8 52.1
Retirement Age Women 60.00 60 60 60 60 60
Retirement Age Men 60.00 60 60 60 60 60
Youth Unemployment Rate (%) 8.60 9.1 8.8 8.7 8.5 8.4
Employment Rate (%) 60.10 58.9 60.2 61.1 61.4 61.5
Prices Actual Q1 Q2 Q3 Q4 2020
Inflation Rate (%) 1.30 1.8 1.9 2 2.1 2.3
Inflation Rate Mom (%) -0.30 0.6 0.4 0.4 0.3 0.2
Consumer Price Index CPI (Index Points) 104.35 106 106 108 107 109
Core Consumer Prices (Index Points) 104.73 106 106 106 106 109
Core Inflation Rate (%) 1.10 1.5 1.8 1.7 1.5 2.2
GDP Deflator (Index Points) 113.94 112 110 113 114 117
Producer Prices (Index Points) 104.09 107 107 108 111 114
Producer Prices Change (%) 1.00 2.8 2.5 2.2 2.4 1.9
Export Prices (Index Points) 84.07 85.7 86.4 83.8 85 84
Import Prices (Index Points) 85.01 88.5 88.9 91.6 92.4 94
Food Inflation (%) 4.20 2.5 2.8 2.6 2.5 2.9
Cpi Housing Utilities (Index Points) 102.22 104 104 104 104 107
CPI Transportation (Index Points) 101.34 105 107 107 103 106
Money Actual Q1 Q2 Q3 Q4 2020
Interest Rate (%) 1.75 1.75 2 2 2 2.25
Interbank Rate (%) 1.85 1.9 1.9 1.9 1.9 1.9
Money Supply M0 (KRW Million) 102926800.00 99870000 99900000 99985000 100000000 103000000
Money Supply M1 (KRW Billion) 842049.40 881000 888000 910000 926000 950000
Money Supply M2 (KRW Billion) 2683082.20 2750000 2780000 2820000 2890000 3130000
Money Supply M3 (KRW Billion) 3776053.60 4055000 4120000 4180000 4200000 4350000
Foreign Exchange Reserves (USD Million) 403694.30 401600 402000 402500 402400 402700
Loans to Private Sector (KRW Hundred Million) 8240906.00 8250000 8270000 8260000 8280000 8320000
Deposit Interest Rate (%) 1.67 1.67 1.92 1.92 2.2 3.5
Private Debt To GDP (%) 253.30 258 258 258 258 258
Central Bank Balance Sheet (KRW Billion) 498873.10 490000 490150 491000 493500 498600
Foreign Stock Investment (USD Hundreds of Millions) 742733.30 7663 7687 7700 7780 7800
Trade Actual Q1 Q2 Q3 Q4 2020
Balance of Trade (USD Million) 4558.00 4230 5440 6450 6900 5800
Current Account (USD Million) 5063.40 9800 7500 7900 8050 9010
Current Account to GDP (%) 5.60 6.1 6.1 6.1 6.1 5.8
Imports (USD Million) 43906.00 44870 44860 44750 44900 45000
Exports (USD Million) 48646.00 49100 50300 51200 51800 50800
External Debt (USD Million) 449529.10 436500 427700 421000 429000 431000
Terms of Trade (Index Points) 97.90 96.84 97.19 91.48 91.99 89.36
Foreign Direct Investment (USD Thousand ) 7698000.00 4970000 6830000 4179000 8570000 9040000
Capital Flows (USD Million) 4247.90 4500 6300 5200 6700 7500
Tourism Revenues (USD Million) 1261800.00 1277000 1273000 1375000 1410000 1420000
Tourist Arrivals 1350390.00 1437000 1195000 1212000 1250000 1380000
Weapons Sales (USD Million) 587.00 550 550 550 550 560
Government Actual Q1 Q2 Q3 Q4 2020
Government Debt to GDP (%) 38.00 39 39 39 39 40
Government Budget (% of GDP) -2.00 -2.7 -2.7 -2.7 -2.7 -3.2
Government Budget Value (KRW Billion) 37409.00 -1800 14000 16000 29000 33000
Government Spending (KRW Billion) 60505.20 60980 61245 62260 61897 63135
Government Revenues (KRW Billion) 408637.00 115200 255000 321000 418000 425000
Fiscal Expenditure (KRW Billion) 371229.00 117000 241000 305000 389000 392000
Military Expenditure (USD Million) 37559.90 39870 39870 39870 39870 40650
Asylum Applications (Persons) 652.00 710 730 745 760 850
Government Spending To GDP (%) 32.26 33.4 33.4 33.4 33.4 33.7
Taxes Actual Q1 Q2 Q3 Q4 2020
Corporate Tax Rate (%) 25.00 25 25 25 25 25
Personal Income Tax Rate (%) 40.00 40 40 40 40 40
Sales Tax Rate (%) 10.00 10 10 10 10 10
Social Security Rate (%) 18.81 18.81 18.81 18.81 18.81 18.81
Social Security Rate For Companies (%) 10.40 10.4 10.4 10.4 10.4 10.4
Social Security Rate For Employees (%) 8.41 8.41 8.41 8.41 8.41 8.41
Business Actual Q1 Q2 Q3 Q4 2020
Business Confidence (Index Points) 71.00 77 79.2 79.8 82 83
Manufacturing PMI 49.80 51 51.1 51.3 51.4 50.9
Industrial Production (%) 0.10 0.1 2.1 -1.3 3.8 2.5
Industrial Production Mom (%) -1.70 1.9 -1.5 2.2 2.3 1.7
Manufacturing Production (%) 0.10 -1.5 -0.1 0.5 0.9 1.1
Capacity Utilization (Index Points) 102.50 103 104 104 104 105
New Orders (KRW Million) 6427427.00 8210000 7670000 8250000 7710000 7860000
Changes in Inventories (KRW Billion) -1354.20 2100 2250 2300 1200 3030
Bankruptcies (Companies) 39.00 39.9 37.8 31.7 29 27
Car Registrations 118994.00 125000 134000 139200 138000 141000
Leading Economic Index (Index Points) 113.50 115 115 116 116 119
Steel Production (Thousand Tonnes) 5928.09 6030 6090 6130 6300 6410
Mining Production (%) -16.00 -3.1 -5.9 -2.8 1.2 4.7
Coincident Index (Index Points) 109.30 110 110 110 110 111
Car Production 4114913.00 4150000 4150000 4150000 4150000 4250000
Electricity Production (Gigawatt-hour) 23615.32 23625 23300 23600 23800 24300
Consumer Actual Q1 Q2 Q3 Q4 2020
Consumer Confidence (Index Points) 97.20 101 101 102 102 103
Retail Sales MoM (%) 0.50 0.3 -0.7 0.4 0.7 0.9
Retail Sales YoY (%) 1.00 4.2 3.7 3.9 5.8 6
Consumer Spending (KRW Billion) 191478.00 191628 192296 193330 195882 199800
Disposable Personal Income (KRW Billion) 1722492.80 1870000 1870000 1870000 1870000 1950000
Personal Savings (%) 8.80 10.3 10.3 10.3 10.3 11.4
Consumer Credit (KRW Billion) 1514376.90 1551000 1583000 1598000 1625000 1647000
Bank Lending Rate (%) 3.66 3.66 3.66 3.66 3.66 3.66
Households Debt To GDP (% of GDP) 96.00 95.8 96.1 96.4 96.8 96.9
Gasoline Prices (USD/Liter) 1.24 1.17 1.14 1.11 1.09 1.09
Housing Actual Q1 Q2 Q3 Q4 2020
Housing Index (Index points) 105.90 105 105 105 105 104
Home Ownership Rate (%) 56.80 57.1 57.1 57.1 57.1 55.8
Construction Orders (KRW Million) 4180294.00 6770000 7580000 8220000 7610000 9890000
Construction Output (%) -10.60 -0.1 0.8 0.5 8.7 5.9


This page has economic forecasts for South Korea including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the South Korea economy.