Markets Actual Q2 Q3 Q4 Q1 2020
Currency 1193.73 1168 1175 1182 1189 1203
Stock Market (points) 2055.80 2178 2154 2129 2105 2057
Government Bond 10Y (%) 1.82 1.87 1.9 1.92 1.95 2.01
Overview Actual Q2 Q3 Q4 Q1 2020
GDP Growth Rate (%) -0.30 0.8 1 1.1 1.2 1
GDP Annual Growth Rate (%) 1.80 2.4 2.4 2.3 2 1.8
Unemployment Rate (%) 4.10 3.8 3.7 3.7 3.8 3.7
Inflation Rate (%) 0.60 0.7 1.3 1.5 1.4 1.4
Inflation Rate Mom (%) 0.40 0.4 0.4 0.3 0.3 0.2
Interest Rate (%) 1.75 1.75 1.75 1.75 1.75 1.75
Balance of Trade (USD Million) 4120.00 6400 8500 3900 4500 5800
Current Account (USD Million) 4820.00 7500 7900 9850 7500 9010
Current Account to GDP (%) 4.70 4.2 4.2 4.2 3.8 3.8
Government Debt to GDP (%) 36.60 39 39 39 40 40
Government Budget (% of GDP) -1.60 -2.7 -2.7 -2.7 -3.2 -3.2
Business Confidence (Index Points) 75.00 74 75 75 76 74
Manufacturing PMI 50.20 48.9 50.1 51.4 50.2 48.7
Consumer Confidence (Index Points) 102.00 101 102 102 105 103
Retail Sales MoM (%) 3.30 -0.7 0.4 0.7 0.5 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 Q2 Q3 Q4 Q1 2020
GDP Growth Rate (%) -0.30 0.8 1 1.1 1.2 1
GDP Annual Growth Rate (%) 1.80 2.4 2.4 2.3 2 1.8
GDP (USD Billion) 1530.75 1622 1622 1622 1700 1700
GDP Constant Prices (KRW Billion) 402678.40 401143 403399 413354 412142 420794
Gross National Product (KRW Billion) 426717.50 409302 415323 436532 435252 444390
Gross Fixed Capital Formation (KRW Billion) 116588.20 124410 118660 122534 122175 124740
GDP per capita (USD) 26152.03 26800 26800 26800 27200 27200
GDP per capita PPP (USD) 35938.37 37400 37400 37400 38201 38201
GDP From Agriculture (KRW Billion) 7649.60 7345 6944 7454 7432 7588
GDP From Construction (KRW Billion) 16318.90 17337 16354 16780 16731 17082
GDP From Manufacturing (KRW Billion) 115279.20 115269 117947 120705 120351 122877
GDP From Mining (KRW Billion) 579.30 531 506 568 566 578
GDP From Public Administration (KRW Billion) 24576.30 24187 24382 24880 24807 25328
GDP From Services (KRW Billion) 215013.70 212432 213429 218062 217422 221987
GDP From Transport (KRW Billion) 13243.60 13310 13300 13768 13728 14016
GDP From Utilities (KRW Billion) 7550.70 7953 7922 8364 8339 8514
Labour Actual Q2 Q3 Q4 Q1 2020
Unemployment Rate (%) 4.10 3.8 3.7 3.7 3.8 3.7
Unemployed Persons (Thousand ) 1058.00 1040 1060 1080 1080 1110
Labor Force Participation Rate (%) 63.60 62.7 62.5 62.7 62.7 63
Labour Costs (Index Points) 103.10 138 119 140 140 142
Wages (KRW/Month) 3359019.00 3832000 4075000 4041000 4362000 4236000
Wages in Manufacturing (KRW/Month) 3922407.00 4059000 4349000 4347000 5032000 4542000
Minimum Wages (KRW/Hour) 8350.00 8350 8350 8350 10000 10000
Population (Million) 51.61 51.65 51.7 51.71 51.85 51.85
Retirement Age Women 60.00 60 60 60 60 60
Retirement Age Men 60.00 60 60 60 60 60
Youth Unemployment Rate (%) 11.70 8.8 8.7 8.5 8.6 8.4
Employment Rate (%) 60.40 60.2 61.1 61.4 61.4 61.5
Prices Actual Q2 Q3 Q4 Q1 2020
Inflation Rate (%) 0.60 0.7 1.3 1.5 1.4 1.4
Inflation Rate Mom (%) 0.40 0.4 0.4 0.3 0.3 0.2
Consumer Price Index CPI (Index Points) 104.87 105 107 106 107 109
Core Consumer Prices (Index Points) 105.47 106 106 106 107 109
Core Inflation Rate (%) 0.70 1.8 1.7 1.5 1.8 2.2
Producer Prices (Index Points) 104.14 104 105 105 105 107
Producer Prices Change (%) 0.10 -0.7 -0.6 0.8 1.3 1.9
Food Inflation (%) 1.40 2.8 2.6 2.5 2.6 2.9
Cpi Housing Utilities (Index Points) 102.76 102 103 104 105 107
CPI Transportation (Index Points) 100.78 105 106 103 101 106
Money Actual Q2 Q3 Q4 Q1 2020
Interest Rate (%) 1.75 1.75 1.75 1.75 1.75 1.75
Interbank Rate (%) 1.80 1.87 1.87 1.87 1.87 1.87
Money Supply M2 (KRW Billion) 2757251.00 2780000 2820000 2890000 2890000 3130000
Foreign Exchange Reserves (USD Million) 404030.00 402000 402500 402400 402400 402700
Loans to Private Sector (KRW Hundred Million) 8372062.00 8270000 8260000 8280000 8280000 8320000
Deposit Interest Rate (%) 2.07 1.92 1.92 2.2 2.2 3.5
Private Debt To GDP (%) 253.30 258 258 258 258 258
Central Bank Balance Sheet (KRW Billion) 501158.80 490150 491000 493500 493500 498600
Foreign Stock Investment (USD Hundreds of Millions) 668173.70 7687 7700 7780 7780 7800
Trade Actual Q2 Q3 Q4 Q1 2020
Balance of Trade (USD Million) 4120.00 6400 8500 3900 4500 5800
Current Account (USD Million) 4820.00 7500 7900 9850 7500 9010
Current Account to GDP (%) 4.70 4.2 4.2 4.2 3.8 3.8
Imports (USD Million) 44737.00 43860 42750 44900 44500 45000
Exports (USD Million) 48857.00 50300 51200 48800 49000 50800
External Debt (USD Million) 440598.50 427700 421000 429000 429000 431000
Foreign Direct Investment (USD Thousand ) 3173570.00 6830000 4179000 8570000 7500000 9040000
Tourism Revenues (USD Million) 1645900.00 1273000 1375000 1310000 1305000 1420000
Tourist Arrivals 1535641.00 1345000 1312000 1350000 1490000 1380000
Government Actual Q2 Q3 Q4 Q1 2020
Government Debt to GDP (%) 36.60 39 39 39 40 40
Government Budget (% of GDP) -1.60 -2.7 -2.7 -2.7 -3.2 -3.2
Government Spending (KRW Billion) 62531.40 60112 60989 63790 63603 64938
Government Spending To GDP (%) 32.26 33.4 33.4 33.4 33.7 33.7
Taxes Actual Q2 Q3 Q4 Q1 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 Q2 Q3 Q4 Q1 2020
Business Confidence (Index Points) 75.00 74 75 75 76 74
Manufacturing PMI 50.20 48.9 50.1 51.4 50.2 48.7
Industrial Production (%) -2.80 2.1 -1.3 3.8 2.2 2.5
Industrial Production Mom (%) 1.40 -1.5 2.2 2.3 -0.5 1.7
Manufacturing Production (%) -2.90 -0.1 0.5 0.9 0.9 1.1
Changes in Inventories (KRW Billion) 3138.90 2250 2300 1200 1200 3030
Car Registrations 130093.00 134000 109200 118000 127000 141000
Leading Economic Index (Index Points) 113.70 115 116 116 116 119
Steel Production (Thousand Tonnes) 6266.42 6090 6130 6300 6300 6410
Mining Production (%) -1.40 -5.9 -2.8 1.2 1.2 4.7
Coincident Index (Index Points) 109.80 110 110 110 111 111
Car Production 4028834.00 4150000 4150000 4150000 4250000 4250000
Electricity Production (Gigawatt-hour) 23788.46 23300 23600 23800 23800 24300
Consumer Actual Q2 Q3 Q4 Q1 2020
Consumer Confidence (Index Points) 102.00 101 102 102 105 103
Retail Sales MoM (%) 3.30 -0.7 0.4 0.7 0.5 0.9
Retail Sales YoY (%) 2.40 3.7 2.9 2.8 3.2 5
Consumer Spending (KRW Billion) 193596.70 192105 193010 197775 197195 201335
Disposable Personal Income (KRW Billion) 1770713.90 1736273 1736273 1811440 1806128 1844046
Consumer Credit (KRW Billion) 1534631.00 1505101 1526492 1569928 1565324 1598186
Bank Lending Rate (%) 3.66 3.7 3.7 3.7 3.7 3.7
Households Debt To GDP (% of GDP) 96.90 96.1 96.4 96.8 96.8 96.9
Gasoline Prices (USD/Liter) 1.26 1.14 1.11 1.08 1.05 1.05
Housing Actual Q2 Q3 Q4 Q1 2020
Housing Index (Index points) 99.70 105 105 105 104 104
Home Ownership Rate (%) 57.70 57.1 57.1 57.1 55.8 55.8
Construction Orders (KRW Million) 5569965.00 5580000 5220000 7610000 7610000 8890000
Construction Output (%) -2.90 0.8 0.5 2.5 3 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.