Markets Actual Q1 Q2 Q3 Q4 2020
Currency 1170.87 1173 1179 1186 1192 1204
Stock Market (points) 2246.13 2154 2131 2109 2087 2044
Government Bond 10Y (%) 1.71 1.59 1.63 1.67 1.71 1.79
Overview Actual Q1 Q2 Q3 Q4 2020
GDP Growth Rate (%) 1.20 1.2 0.9 0.8 1 1
GDP Annual Growth Rate (%) 2.20 2.5 2.6 2.4 2.3 2.8
Unemployment Rate (%) 3.80 3.8 3.9 3.8 3.7 3.8
Inflation Rate (%) 0.70 1.1 1.3 1.5 1.4 2.1
Inflation Rate Mom (%) 0.20 0.3 0.3 0.6 0.2 0.2
Interest Rate (%) 1.25 1.25 1.25 1.25 1.25 1.25
Balance of Trade (USD Million) 2017.00 4500 4100 9500 5800 5800
Current Account (USD Million) 5974.80 4500 6900 5500 4500 4100
Current Account to GDP (%) 4.70 2.9 2.9 2.9 2.9 3
Government Debt to GDP (%) 36.60 40 40 40 40 40.5
Government Budget (% of GDP) -1.60 -1.5 -1.5 -1.5 -1.5 -2
Business Confidence (points) 74.00 67 69 68 71 75
Manufacturing PMI (points) 50.10 50.2 49.8 50.1 48.7 49.7
Consumer Confidence (points) 100.40 92 95 94 96 99
Retail Sales MoM (%) 3.00 0.5 0.6 0.3 0.9 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 (%) 1.20 1.2 0.9 0.8 1 1
GDP Annual Growth Rate (%) 2.20 2.5 2.6 2.4 2.3 2.8
GDP (USD Billion) 1619.42 1700 1700 1700 1700 1760
GDP Constant Prices (KRW Billion) 467045.10 458872 463800 465400 477787 491165
Gross National Product (KRW Billion) 456451.80 439518 454131 460103 466950 480025
Gross Fixed Capital Formation (KRW Billion) 134629.40 132390 134521 130847 137726 141582
GDP per capita (USD) 26761.90 27912 27912 27912 27912 28493
GDP per capita PPP (USD) 36776.50 38201 38201 38201 38201 38201
GDP From Agriculture (KRW Billion) 8402.70 8553 8245 8290 8596 8837
GDP From Construction (KRW Billion) 22159.70 22037 22395 21293 22669 23304
GDP From Manufacturing (KRW Billion) 125987.10 120811 122167 124973 128885 132494
GDP From Mining (KRW Billion) 498.70 528 510 459 510 524
GDP From Public Administration (KRW Billion) 26855.50 26797 27088 27070 27473 28242
GDP From Services (KRW Billion) 260084.80 257020 259075 260358 264233 271631
GDP From Transport (KRW Billion) 15648.60 15357 15656 15761 16009 16457
GDP From Utilities (KRW Billion) 11528.80 11698 12957 11189 11794 12124
Labour Actual Q1 Q2 Q3 Q4 2020
Unemployment Rate (%) 3.80 3.8 3.9 3.8 3.7 3.8
Employed Persons (Thousand ) 27381.00 27200 27300 273500 27500 27500
Unemployed Persons (Thousand ) 1068.00 1080 1100 1120 1110 1110
Labor Force Participation Rate (%) 62.90 63.4 64 64 63 63
Labour Costs (points) 111.40 140 140 140 142 142
Wages (KRW/Month) 3863726.00 4362000 4027000 4291000 4236000 4411000
Wages in Manufacturing (KRW/Month) 4199394.00 5032000 4244000 4519000 4542000 4717000
Minimum Wages (KRW/Hour) 8350.00 10000 10000 10000 10000 11500
Population (Million) 51.61 52.11 52.11 52.11 52.11 52.36
Retirement Age Women 60.00 60 60 60 60 60
Retirement Age Men 60.00 60 60 60 60 60
Youth Unemployment Rate (%) 7.30 10.6 10.3 8.8 8.4 8.4
Employment Rate (%) 60.80 61.4 61.4 61.4 61.5 61.5
Prices Actual Q1 Q2 Q3 Q4 2020
Inflation Rate (%) 0.70 1.1 1.3 1.5 1.4 2.1
Inflation Rate Mom (%) 0.20 0.3 0.3 0.6 0.2 0.2
Consumer Price Index CPI (points) 105.12 106 106 107 107 109
Core Consumer Prices (points) 105.35 106 107 107 107 109
Core Inflation Rate (%) 0.60 1.2 1.4 1.5 1.4 1.7
Producer Prices (points) 103.71 105 105 105 107 109
Producer Prices Change (%) 0.70 1.3 1.5 1.2 1.9 1.9
Food Inflation (%) 0.10 1.9 1.8 1.7 2.4 2.4
Cpi Housing Utilities (points) 103.50 104 104 105 105 107
CPI Transportation (points) 103.58 100 105 105 105 107
Money Actual Q1 Q2 Q3 Q4 2020
Interest Rate (%) 1.25 1.25 1.25 1.25 1.25 1.25
Interbank Rate (%) 1.44 1.51 1.51 1.51 1.51 1.51
Money Supply M2 (KRW Billion) 2903991.80 2890000 2890000 2890000 3130000 3130000
Foreign Exchange Reserves (USD Million) 408820.00 410300 411700 413200 414637 420454
Loans to Private Sector (KRW Hundred Million) 8689783.00 8441801 8592434 8686664 8889648 9138558
Deposit Interest Rate (%) 1.63 1.6 1.6 1.6 3.5 1.6
Private Debt To GDP (%) 260.80 261 261 261 261 259
Central Bank Balance Sheet (KRW Billion) 492518.80 499500 495500 494500 498600 498600
Foreign Stock Investment (USD Hundreds of Millions) 688696.70 710080 740000 740000 690000 680000
Trade Actual Q1 Q2 Q3 Q4 2020
Balance of Trade (USD Million) 2017.00 4500 4100 9500 5800 5800
Current Account (USD Million) 5974.80 4500 6900 5500 4500 4100
Current Account to GDP (%) 4.70 2.9 2.9 2.9 2.9 3
Imports (USD Million) 43699.00 41500 39800 40500 45000 45900
Exports (USD Million) 45716.00 45000 43900 50000 50800 51700
External Debt (USD Million) 458199.90 461599 461599 480076 480648 499401
Foreign Direct Investment (USD Thousand ) 9844064.00 3300000 6500000 4500000 9040000 9040000
Tourism Revenues (USD Million) 1627000.00 1505000 1555000 1390000 1420000 1420000
Tourist Arrivals 1456429.00 1490000 1490000 1350000 1380000 1450000
Weapons Sales (USD Million) 1083.00 560 560 560 560 560
Government Actual Q1 Q2 Q3 Q4 2020
Government Debt to GDP (%) 36.60 40 40 40 40 40.5
Government Budget (% of GDP) -1.60 -1.5 -1.5 -1.5 -1.5 -2
Government Budget Value (KRW Billion) -7906.00 -19000 -12000 -20000 18000 23000
Government Spending (KRW Billion) 78781.50 74736 76400 77411 80593 82850
Government Revenues (KRW Billion) 409618.00 110800 220000 3150000 425000 425000
Fiscal Expenditure (KRW Billion) 417525.00 140000 245000 245000 399000 399000
Military Expenditure (USD Million) 41157.00 40650 40650 40650 40650 40650
Government Spending To GDP (%) 32.26 38 38 38 38 39
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 (points) 74.00 67 69 68 71 75
Manufacturing PMI (points) 50.10 50.2 49.8 50.1 48.7 49.7
Industrial Production (%) -0.30 1.1 0.5 1.2 1.8 2
Industrial Production Mom (%) -0.50 -0.5 -0.8 0.9 1.7 1.7
Manufacturing Production (%) -0.10 0.9 0.5 1.1 1.1 1.5
Capacity Utilization (points) 103.20 104 103 103 105 105
Bankruptcies (Companies) 30.00 35 40 40 27 27
Car Registrations 139411.00 121000 113000 105000 115000 110000
Leading Economic Index (points) 116.90 114 114 114 116 115
Steel Production (Thousand Tonnes) 5894.65 6300 6300 6300 6410 6410
Mining Production (%) -4.40 1.2 -1.5 -3 4.7 4.7
Coincident Index (points) 111.50 111 111 111 111 111
Car Production 4028834.00 4250000 4250000 4250000 4250000 4250000
Electricity Production (Gigawatt-hour) 22770.94 23850 23500 23500 25100 25300
Consumer Actual Q1 Q2 Q3 Q4 2020
Consumer Confidence (points) 100.40 92 95 94 96 99
Retail Sales MoM (%) 3.00 0.5 0.6 0.3 0.9 0.9
Retail Sales YoY (%) 3.70 3.2 3.5 3.9 5 5
Consumer Spending (KRW Billion) 223925.40 222253 223825 224043 229076 235490
Disposable Personal Income (KRW Billion) 1890779.40 1906530 1907172 1905906 1934267 1988427
Personal Savings (%) 35.00 33.6 33.8 34 33.6 32.9
Consumer Credit (KRW Billion) 1572659.90 1552872 1569583 1585241 1608831 1653878
Bank Lending Rate (%) 3.18 3.2 3.2 3.2 3.2 3.2
Households Debt To GDP (% of GDP) 92.90 93 93.1 93.6 93.6 94.9
Gasoline Prices (USD/Liter) 1.35 1.48 1.52 1.56 1.59 1.59
Housing Actual Q1 Q2 Q3 Q4 2020
Housing Index (points) 100.20 100 102 102 102 102
Home Ownership Rate (%) 57.70 58.2 58.2 58.2 58.2 57.7
Construction Orders (KRW Million) 5454550.00 6010000 4310000 4400000 9890000 9000000
Construction Output (%) -4.70 -1.2 0.5 1 1.9 3.2


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.