Markets Actual Q2 Q3 Q4 Q1 2021
Currency 1231.46 1242 1249 1255 1262 1274
Stock Market (points) 2029.60 1989 1946 1903 1862 1779
Government Bond 10Y (%) 1.38 1.4 1.44 1.48 1.51 1.59

Overview Actual Q2 Q3 Q4 Q1 2021
GDP Growth Rate (%) -1.40 0.9 0.8 1 1 1
GDP Annual Growth Rate (%) 1.30 -1.7 -1.2 0.6 1.2 2.2
Unemployment Rate (%) 3.80 4.2 4.4 4.6 4.4 4
Inflation Rate (%) 0.10 0.1 1.5 1.4 1.4 2.1
Inflation Rate Mom (%) -0.60 -0.3 0.6 0.2 0.2 0.2
Interest Rate (%) 0.50 0.25 0.25 0.25 0.25 0.5
Balance of Trade (USD Million) -950.00 4100 9500 5800 5800 5800
Current Account (USD Million) 6230.00 6900 5500 4500 4500 4100
Current Account to GDP (%) 3.70 5 5 5 4.9 4.9
Government Debt to GDP (%) 36.60 40 40 40 40 40.5
Government Budget (% of GDP) -1.60 -5.7 -5.7 -5.7 -6.2 -6.2
Business Confidence (points) 49.00 59 49 51 54 61
Manufacturing PMI (points) 41.60 45.7 48.1 48.7 50.2 49.7
Consumer Confidence (points) 77.60 80 85 70 70 99
Retail Sales MoM (%) 5.30 0.6 0.3 0.9 0.9 0.9
Corporate Tax Rate (%) 25.00 25 25 25 25 25
Personal Income Tax Rate (%) 42.00 42 42 42 42 42

GDP Actual Q2 Q3 Q4 Q1 2021
GDP Growth Rate (%) -1.40 0.9 0.8 1 1 1
GDP Annual Growth Rate (%) 1.30 -1.7 -1.2 0.6 1.2 2.2
GDP (USD Billion) 1690.00 1700 1700 1700 1790 1790
GDP Constant Prices (KRW Billion) 460970.30 457206 459859 469847 472650 480184
Gross National Product (KRW Billion) 477883.70 447675 454626 480751 483618 491328
Gross Fixed Capital Formation (KRW Billion) 136891.30 132608 129289 135437 136245 138417
GDP per capita (USD) 26761.90 27912 27912 27912 28493 28493
GDP per capita PPP (USD) 36776.50 36831 38201 38201 36831 38540
GDP From Agriculture (KRW Billion) 8354.70 8128 8191 8453 8504 8639
GDP From Construction (KRW Billion) 22365.00 22076 21040 22293 22426 22783
GDP From Manufacturing (KRW Billion) 123745.40 120430 123485 126743 127499 129531
GDP From Mining (KRW Billion) 559.30 503 454 502 505 513
GDP From Public Administration (KRW Billion) 27295.60 26703 27002 27459 27623 28063
GDP From Services (KRW Billion) 255204.60 255392 257259 261645 263206 267402
GDP From Transport (KRW Billion) 13684.00 15433 15573 15742 15836 16089
GDP From Utilities (KRW Billion) 12227.90 12773 11055 11598 11667 11853

Labour Actual Q2 Q3 Q4 Q1 2021
Unemployment Rate (%) 3.80 4.2 4.4 4.6 4.4 4
Employed Persons (Thousand ) 26504.00 27300 273500 27500 27500 27500
Unemployed Persons (Thousand ) 1051.00 1100 1120 1110 1110 1110
Labor Force Participation Rate (%) 62.00 64 64 63 63 63
Labour Costs (points) 101.50 140 140 142 142 142
Wages (KRW/Month) 3806684.00 3697000 3981000 3886000 4251000 4042000
Wages in Manufacturing (KRW/Month) 4149388.00 3904000 4309000 4322000 4791000 4457000
Minimum Wages (KRW/Hour) 8590.00 8590 8590 8590 8990 8990
Population (Million) 51.71 51.78 51.78 51.78 52.36 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 (%) 9.10 10.3 8.8 8.4 8.4 8.4
Employment Rate (%) 59.40 59.5 59.3 59 60.9 61.5

Prices Actual Q2 Q3 Q4 Q1 2021
Inflation Rate (%) 0.10 0.1 1.5 1.4 1.4 2.1
Inflation Rate Mom (%) -0.60 -0.3 0.6 0.2 0.2 0.2
Consumer Price Index CPI (points) 104.95 105 107 107 107 109
Core Consumer Prices (points) 105.65 107 107 107 107 109
Core Inflation Rate (%) 0.30 1.4 1.5 1.4 1.4 1.7
Producer Prices (points) 102.08 102 105 106 105 108
Producer Prices Change (%) -1.50 -1.5 1.2 1.9 1.9 1.9
Food Inflation (%) 1.70 1.8 1.7 2.4 2.4 2.4
Cpi Housing Utilities (points) 103.95 103 105 105 106 107
CPI Transportation (points) 98.47 103 105 105 103 107

Money Actual Q2 Q3 Q4 Q1 2021
Interest Rate (%) 0.50 0.25 0.25 0.25 0.25 0.5
Interbank Rate (%) 0.78 0.87 0.87 0.87 0.87 1.12
Money Supply M2 (KRW Billion) 2988196.90 2890000 2890000 3130000 3130000 3130000
Foreign Exchange Reserves (USD Million) 403982.30 411700 413200 414637 416091 420454
Loans to Private Sector (KRW Hundred Million) 9291685.00 8470278 8583251 8741922 9121177 8934244
Deposit Interest Rate (%) 1.51 1.51 1.51 1.51 1.51 1.76
Private Debt To GDP (%) 260.80 261 261 261 261 259
Central Bank Balance Sheet (KRW Billion) 509259.90 498716 501369 504021 506673 514629
Foreign Stock Investment (USD Hundreds of Millions) 620784.20 740000 740000 690000 690000 680000

Trade Actual Q2 Q3 Q4 Q1 2021
Balance of Trade (USD Million) -950.00 4100 9500 5800 5800 5800
Current Account (USD Million) 6230.00 6900 5500 4500 4500 4100
Current Account to GDP (%) 3.70 5 5 5 4.9 4.9
Imports (USD Million) 37870.00 39800 40500 45000 45000 45900
Exports (USD Million) 36920.00 43900 50000 50800 50800 51700
External Debt (USD Million) 485814.70 461599 480076 480648 480648 499401
Foreign Direct Investment (USD Thousand ) 3275220.00 6500000 4500000 9040000 9040000 9040000
Tourism Revenues (USD Million) 729800.00 1555000 1390000 1420000 1420000 1420000
Tourist Arrivals 83497.00 660000 75000 1050000 1200000 1450000
Weapons Sales (USD Million) 1083.00 560 560 560 560 560

Government Actual Q2 Q3 Q4 Q1 2021
Government Debt to GDP (%) 36.60 40 40 40 40 40.5
Government Budget (% of GDP) -1.60 -5.7 -5.7 -5.7 -6.2 -6.2
Government Budget Value (KRW Billion) -45292.00 -12000 -20000 18000 18000 23000
Government Spending (KRW Billion) 79428.70 75314 76489 79254 79727 80998
Government Revenues (KRW Billion) 111402.00 220000 3150000 425000 425000 425000
Fiscal Expenditure (KRW Billion) 156693.00 245000 245000 399000 399000 399000
Military Expenditure (USD Million) 41157.00 40650 40650 40650 40650 40650
Government Spending To GDP (%) 30.27 38 38 38 38 39

Taxes Actual Q2 Q3 Q4 Q1 2021
Corporate Tax Rate (%) 25.00 25 25 25 25 25
Personal Income Tax Rate (%) 42.00 42 42 42 42 42
Sales Tax Rate (%) 10.00 10 10 10 10 10
Social Security Rate (%) 18.94 18.94 18.94 18.94 18.94 18.94
Social Security Rate For Companies (%) 9.96 9.96 9.96 9.96 9.96 9.96
Social Security Rate For Employees (%) 8.98 8.98 8.98 8.98 8.98 8.98

Business Actual Q2 Q3 Q4 Q1 2021
Business Confidence (points) 49.00 59 49 51 54 61
Manufacturing PMI (points) 41.60 45.7 48.1 48.7 50.2 49.7
Industrial Production (%) -4.50 0.5 1.2 1.8 1.8 2
Industrial Production Mom (%) -6.00 -0.8 0.9 1.7 1.7 1.7
Manufacturing Production (%) -4.70 0.5 1.1 1.1 1.1 1.5
Capacity Utilization (points) 104.00 103 103 105 105 105
Bankruptcies (Companies) 24.00 40 40 27 27 27
Car Registrations 140059.00 113000 105000 115000 115000 110000
Leading Economic Index (points) 118.50 114 114 116 116 115
Mining Production (%) 1.50 -1.5 -3 4.7 4.7 4.7
Steel Production (Thousand Tonnes) 5500.00 6300 6300 6410 6410 6410
Coincident Index (points) 112.10 111 111 111 111 111
Car Production 3950617.00 4250000 4250000 4250000 4250000 4250000
Electricity Production (Gigawatt-hour) 23129.81 23500 23500 25100 25100 25300

Consumer Actual Q2 Q3 Q4 Q1 2021
Consumer Confidence (points) 77.60 80 85 70 70 99
Retail Sales MoM (%) 5.30 0.6 0.3 0.9 0.9 0.9
Retail Sales YoY (%) -2.20 3.5 3.9 5 5 5
Consumer Spending (KRW Billion) 210041.30 220643 221376 225269 226613 230225
Disposable Personal Income (KRW Billion) 1925872.90 1880059 1883216 1937428 1948983 1980052
Personal Savings (%) 35.00 33.8 34 33.6 33.6 32.9
Consumer Credit (KRW Billion) 1611271.40 1547269 1566369 1609733 1619334 1645147
Bank Lending Rate (%) 2.91 2.91 2.91 2.91 2.91 3.16
Households Debt To GDP (% of GDP) 95.50 93.1 93.6 93.6 93.6 94.9
Gasoline Prices (USD/Liter) 1.02 1.1 1.05 0.99 0.95 0.9

Housing Actual Q2 Q3 Q4 Q1 2021
Housing Index (points) 101.70 102 102 102 102 102
Home Ownership Rate (%) 57.70 58.2 58.2 58.2 58.2 57.7
Construction Orders (KRW Million) 5197238.00 4310000 4400000 9890000 9890000 9000000
Construction Output (%) -2.70 0.5 1 1.9 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.