Markets Actual Q4 Q1 Q2 Q3 2022
Currency 1190.17 1200 1211 1221 1231 1252
Stock Market (points) 3281.78 3183 3088 2995 2905 2734
Government Bond 10Y (%) 2.25 2.3 2.34 2.39 2.43 2.53

Overview Actual Q4 Q1 Q2 Q3 2022
GDP Growth Rate (%) 0.30 0.8 1 1.5 1 0.8
GDP Annual Growth Rate (%) 4.00 3 1.6 2.1 2 2.5
Unemployment Rate (%) 3.20 4.2 3.8 3.8 3.7 3.8
Inflation Rate (%) 3.20 3.4 2.7 2.5 2.1 1.5
Inflation Rate Mom (%) 0.10 -0.2 0.3 0.1 0.4 0.2
Interest Rate (%) 1.00 1 1 1 1.25 1.25
Balance of Trade (USD Million) 1690.00 6700 6500 6500 6500 6700
Current Account (USD Million) 10067.70 9500 7500 5500 5500 8600
Current Account to GDP (% of GDP) 3.50 3.5 4 4 4 4
Government Debt to GDP (% of GDP) 42.60 47 50 50 50 50
Government Budget (% of GDP) -6.10 -4 -2.8 -2.8 -2.8 -2.8
Business Confidence (points) 90.00 87 85 83 83 80
Manufacturing PMI (points) 50.20 51 51.6 50.5 51 50
Consumer Confidence (points) 107.60 100 108 110 110 110
Retail Sales MoM (%) 2.50 0.9 0.5 0.5 0.5 0.9
Corporate Tax Rate (%) 25.00 25 25 25 25 25
Personal Income Tax Rate (%) 45.00 40 40 40 40 40

GDP Actual Q4 Q1 Q2 Q3 2022
GDP Growth Rate (%) 0.30 0.8 1 1.5 1 0.8
GDP Annual Growth Rate (%) 4.00 3 1.6 2.1 2 2.5
GDP (USD Billion) 1630.53 1660 1710 1710 1710 1710
GDP Constant Prices (KRW Billion) 477714.20 427106 480164 486246 487268 490415
Gross National Product (KRW Billion) 471381.30 451055 462226 481280 480809 508821
Gross Fixed Capital Formation (KRW Billion) 139788.00 126611 145437 145517 142584 147441
GDP per capita (USD) 31264.94 27490 28075 28075 28075 28075
GDP per capita PPP (USD) 42251.50 41400 42500 42500 42500 42500
GDP From Agriculture (KRW Billion) 8249.50 7702 8819 7739 8414 8528
GDP From Construction (KRW Billion) 21197.60 17339 22216 22027 21622 22884
GDP From Manufacturing (KRW Billion) 128639.70 124720 132157 131071 131212 132260
GDP From Mining (KRW Billion) 525.60 587 469 531 536 539
GDP From Public Administration (KRW Billion) 29409.10 29366 29199 29518 29997 30100
GDP From Services (KRW Billion) 268973.70 225317 266444 273489 274353 274966
GDP From Transport (KRW Billion) 14289.20 14226 13541 14924 14575 13858
GDP From Utilities (KRW Billion) 12130.10 8642 12742 12281 12373 12503

Labour Actual Q4 Q1 Q2 Q3 2022
Unemployment Rate (%) 3.20 4.2 3.8 3.8 3.7 3.8
Employed Persons (Thousand ) 27472.00 27000 28000 28000 28000 28000
Unemployed Persons (Thousand ) 900.00 1150 1110 1110 1110 1110
Labor Force Participation Rate (%) 63.20 62 63 63 63 63
Labour Costs (points) 98.40 142 142 142 142 142
Wages (KRW/Month) 3773068.00 3962000 4156000 3886000 4026000 4121000
Wages in Manufacturing (KRW/Month) 4022810.00 4307000 4651000 4191000 4446000 4427000
Minimum Wages (KRW/Hour) 8720.00 8720 8990 8990 8990 8990
Population (Million) 51.78 51.82 51.98 51.98 51.98 51.98
Retirement Age Women 62.00 60 60 60 62 62
Retirement Age Men 62.00 60 60 60 62 62
Youth Unemployment Rate (%) 5.70 8.5 8.5 8.5 8.5 8.5
Employment Rate (%) 61.30 59 61 61 61 60

Prices Actual Q4 Q1 Q2 Q3 2022
Inflation Rate (%) 3.20 3.4 2.7 2.5 2.1 1.5
Inflation Rate Mom (%) 0.10 -0.2 0.3 0.1 0.4 0.2
Consumer Price Index CPI (points) 108.97 109 110 110 111 111
Core Consumer Prices (points) 108.61 109 109 110 111 111
Core Inflation Rate (%) 2.80 2.5 2.1 2.1 2.1 1.6
Producer Prices (points) 112.21 113 114 115 116 115
Producer Prices Change (%) 8.90 8.3 6.9 5.7 4 2.5
Food Inflation (%) 1.60 9.5 4.5 2.5 2.5 2.4
CPI Housing Utilities (points) 106.12 107 107 108 108 109
CPI Transportation (points) 109.30 109 109 110 110 110

Money Actual Q4 Q1 Q2 Q3 2022
Interest Rate (%) 1.00 1 1 1 1.25 1.25
Interbank Rate (%) 1.28 1.28 1.28 1.28 1.53 1.53
Money Supply M2 (KRW Billion) 3518041.10 3464273 3536902 3536902 3536902 3779000
Foreign Exchange Reserves (USD Million) 469210.00 476991 488441 493441 508722 540791
Loans to Private Sector (KRW Hundred Million) 10592891.00 10056638 10159704 10436119 10699846 10308054
Deposit Interest Rate (%) 1.17 1.42 1.42 1.42 1.67 1.67
Private Debt To GDP (%) 272.78 265 263 263 263 263
Central Bank Balance Sheet (KRW Billion) 578868.40 567108 576017 576017 576017 602747
Foreign Stock Investment (USD Million) 966191.50 950000 900000 900000 900000 900000

Trade Actual Q4 Q1 Q2 Q3 2022
Balance of Trade (USD Million) 1690.00 6700 6500 6500 6500 6700
Current Account (USD Million) 10067.70 9500 7500 5500 5500 8600
Current Account to GDP (% of GDP) 3.50 3.5 4 4 4 4
Imports (USD Million) 53860.00 43000 44000 44000 44000 45000
Exports (USD Million) 55619.16 49700 50500 50500 50500 51700
External Debt (USD Million) 610752.90 596874 612101 612101 612101 660947
Foreign Direct Investment (USD Thousand ) 4724987.00 9000000 9000000 9000000 9000000 10000000
Tourism Revenues (USD Million) 931900.00 970000 1000000 1000000 1000000 1420000
Tourist Arrivals 89800.00 900000 1000000 1000000 1000000 1250000
Weapons Sales (SIPRI TIV Million) 827.00 800 800 800 800 800

Government Actual Q4 Q1 Q2 Q3 2022
Government Debt to GDP (% of GDP) 42.60 47 50 50 50 50
Government Budget (% of GDP) -6.10 -4 -2.8 -2.8 -2.8 -2.8
Government Budget Value (KRW Billion) -29648.00 -38700 -28300 -28300 -26000 -23000
Government Spending (KRW Billion) 85257.00 65912 82389 86061 86962 84285
Government Revenues (KRW Billion) 417651.00 399000 399000 399000 399000 399000
Fiscal Expenditure (KRW Billion) 447300.00 415000 415000 415000 415000 415000
Military Expenditure (USD Million) 46056.00 40650 40650 40650 40650 40650
Government Spending To GDP (% of GDP) 31.15 39 39 39 39 39
Asylum Applications (Persons) 6684.00 6650 4330 4000 4350 5500

Taxes Actual Q4 Q1 Q2 Q3 2022
Corporate Tax Rate (%) 25.00 25 25 25 25 25
Personal Income Tax Rate (%) 45.00 40 40 40 40 40
Sales Tax Rate (%) 10.00 10 10 10 10 10
Social Security Rate (%) 19.24 18.94 18.94 18.94 18.94 18.94
Social Security Rate For Companies (%) 10.11 9.96 9.96 9.96 9.96 9.96
Social Security Rate For Employees (%) 9.13 8.98 8.98 8.98 8.98 8.98

Business Actual Q4 Q1 Q2 Q3 2022
Business Confidence (points) 90.00 87 85 83 83 80
Manufacturing PMI (points) 50.20 51 51.6 50.5 51 50
Industrial Production (%) -1.80 4 3.2 3.2 3.2 3.6
Industrial Production Mom (%) -0.80 1.3 1.5 1.5 1.5 1.5
Manufacturing Production (%) -1.90 3.5 2.5 2.5 2.5 2.5
Capacity Utilization (points) 104.80 107 108 108 108 109
Bankruptcies (Companies) 8.00 25 25 25 25 25
Car Registrations 108046.00 175000 175000 175000 175000 190500
Leading Economic Index (points) 128.20 126 126 126 126 128
Steel Production (Thousand Tonnes) 5800.00 6500 5900 5900 5900 6000
Mining Production (%) -7.20 5 2.5 2.5 2.5 4
Coincident Index (points) 117.30 115 117 117 117 119
Car Production 3506774.00 4250000 44000000 44000000 44000000 44000000
Electricity Production (Gigawatt-hour) 23885.37 25300 25300 25300 25300 25300

Consumer Actual Q4 Q1 Q2 Q3 2022
Consumer Confidence (points) 107.60 100 108 110 110 110
Retail Sales MoM (%) 2.50 0.9 0.5 0.5 0.5 0.9
Retail Sales YoY (%) 3.70 8 5 5 5 5
Consumer Spending (KRW Billion) 220525.40 204355 216961 225790 224936 222740
Disposable Personal Income (KRW Billion) 1938678.90 1871707 1969698 1979391 1977452 2046760
Personal Savings (%) 35.80 34 34 34 34 33
Consumer Credit (KRW Billion) 1844893.30 1777874 1793238 1843790 1881791 1822321
Bank Lending Rate (%) 3.07 3.07 3.07 3.07 3.32 3.32
Households Debt To GDP (% of GDP) 104.90 94 93 93 93 93
Gasoline Prices (USD/Liter) 1.51 1.04 1.36 1.29 1.23 1.17

Housing Actual Q4 Q1 Q2 Q3 2022
Housing Index (points) 122.90 119 120 120 120 125
Home Ownership Rate (%) 58.00 58 58.5 58.5 58.5 58.5
Construction Orders (KRW Million) 5935790.00 9000000 9000000 9000000 9000000 10000000
Construction Output (%) -8.40 3.2 2.5 2.5 2.5 3.2


Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. South Korea Forecast - was last updated on Sunday, November 28, 2021.