Markets Actual Q1/23 Q2/23 Q3/23 Q4/23
Currency 1247.46 1252 1274 1297 1320
Stock Market (points) 2480.40 2409 2336 2265 2196
Government Bond 10Y (%) 3.15 3.37 3.45 3.54 3.63

Overview Actual Q1/23 Q2/23 Q3/23 Q4/23
GDP Growth Rate (%) -0.40 0.3 0.5 0.6 0.6
GDP Annual Growth Rate (%) 1.40 2.4 3 2 2.7
Unemployment Rate (%) 3.30 2.8 3 2.9 3.6
Inflation Rate (%) 5.20 4.6 4.3 4 3.7
Inflation Rate MoM (%) 0.80 0.5 -0.2 0.2 0.7
Interest Rate (%) 3.50 3.75 3.75 3.75 3.5
Balance of Trade (USD Million) -12690.00 -5500 -5500 -2000 6000
Current Account (USD Million) -620.00 5600 2800 5500 7900
Current Account to GDP (% of GDP) 4.90 3.5
Business Confidence (points) 66.00 71 80 85 80
Manufacturing PMI (points) 48.50 49.1 50 51 50
Consumer Confidence (points) 90.70 85 90 95 105
Retail Sales MoM (%) 1.40 0.6 -0.6 1
Corporate Tax Rate (%) 27.50 24.5
Personal Income Tax Rate (%) 45.00 45
Government Debt to GDP (% of GDP) 46.90 53
Government Budget (% of GDP) -5.60 -2.9

GDP Actual Q1/23 Q2/23 Q3/23 Q4/23
GDP Growth Rate (%) -0.40 0.3 0.5 0.6 0.6
GDP Annual Growth Rate (%) 1.40 2.4 3 2 2.7
GDP (USD Billion) 1798.53 1829
GDP Constant Prices (KRW Billion) 491674.40 498796 506634 503187 504950
Gross National Product (KRW Billion) 464457.20 466480 479587 473746 476998
Gross Fixed Capital Formation (KRW Billion) 144943.60 142135 143654 145953 148857
Full Year GDP Growth (%) 2.60 1.7
GDP from Agriculture (KRW Billion) 8134.70 8934 8146 8302 8354
GDP from Construction (KRW Billion) 21931.90 21958 21952 22063 22524
GDP from Manufacturing (KRW Billion) 126402.90 137416 136361 134182 129816
GDP from Mining (KRW Billion) 424.20 484 437 524 436
GDP from Public Administration (KRW Billion) 29534.50 30139 30421 30125 30332
GDP from Services (KRW Billion) 284030.40 279343 287987 287279 291699
GDP from Transport (KRW Billion) 15870.70 14438 15992 15472 16299
GDP from Utilities (KRW Billion) 12435.00 13034 12775 12677 12771

Labour Actual Q1/23 Q2/23 Q3/23 Q4/23
Unemployment Rate (%) 3.30 2.8 3 2.9 3.6
Employed Persons (Thousand ) 28091.00 27800 27900 28000 28000
Unemployed Persons (Thousand ) 948.00 750 840 820 1100
Labor Force Participation Rate (%) 63.30 63.6 64.5 64
Wages (KRW/Month) 4264096.00 4756000 4151000 4689000 4551000
Wages in Manufacturing (KRW/Month) 4701178.00 5517000 4491000 4951000 5042000
Minimum Wages (KRW/Hour) 9620.00 9620
Retirement Age Women (Years) 60.00 60
Retirement Age Men (Years) 60.00 60
Employment Rate (%) 61.30 61.9 62 61.6 60
Youth Unemployment Rate (%) 5.20 6.5 6.5 5 5.5
Population (Million) 51.74 51.6

Prices Actual Q1/23 Q2/23 Q3/23 Q4/23
Inflation Rate (%) 5.20 4.6 4.3 4 3.7
Inflation Rate MoM (%) 0.80 0.5 -0.2 0.2 0.7
Consumer Price Index CPI (points) 110.11 111 113 113 113
Core Consumer Prices (points) 108.91 109 110 110 111
Core Inflation Rate (%) 4.95 4.2 3.6 2.8 2.6
GDP Deflator (points) 110.80 114 115 115 115
Producer Prices (points) 119.96 123 126 125 124
Producer Prices Change (%) 6.00 5.5 4.8 4 3.5
Export Prices (points) 118.03 115 114 116 120
Import Prices (points) 138.63 132 125 130 140
Food Inflation (%) 5.77 6 4.5 4 3.8
Import Prices YoY (%) 9.10 7.6 4.5 2.6 2.2
Producer Price Inflation MoM (%) -0.30 -0.1 0.1 0.2 -0.3
Export Prices YoY (%) 3.10 3.2 1.5 1.9 2.3
CPI Housing Utilities (points) 111.96 110 111 113 115
CPI Transportation (points) 112.38 113 113 113 114

Money Actual Q1/23 Q2/23 Q3/23 Q4/23
Interest Rate (%) 3.50 3.75 3.75 3.75 3.5
Interbank Rate (%) 3.51 3.76 3.76 3.76 3.51
Foreign Exchange Reserves (USD Million) 429970.00 434000 440000 445000 450000
Loans to Private Sector (KRW Hundred Million) 11703145.00 11201525 11589518 11785700 12019130
Deposit Interest Rate (%) 4.52 4.77 4.77 4.77 4.52
Central Bank Balance Sheet (KRW Billion) 584275.50 582000 580000 575000 575000
Private Debt to GDP (%) 275.17 285

Trade Actual Q1/23 Q2/23 Q3/23 Q4/23
Balance of Trade (USD Million) -12690.00 -5500 -5500 -2000 6000
Current Account (USD Million) -620.00 5600 2800 5500 7900
Current Account to GDP (% of GDP) 4.90 3.5
Imports (USD Million) 58960.00 58000 55000 50000 45000
Exports (USD Million) 46270.00 52500 49500 48000 51000
External Debt (USD Million) 638980.80 650000 640000 670000 660000
Tourist Arrivals 456436.00 250000 350000 400000 450000

Government Actual Q1/23 Q2/23 Q3/23 Q4/23
Government Spending (KRW Billion) 90145.20 88487 90267 89225 92579
Fiscal Expenditure (KRW Billion) 595823.00 210000 420000 520000 630000
Government Debt to GDP (% of GDP) 46.90 53
Government Budget (% of GDP) -5.60 -2.9

Taxes Actual Q1/23 Q2/23 Q3/23 Q4/23
Corporate Tax Rate (%) 27.50 24.5
Personal Income Tax Rate (%) 45.00 45
Sales Tax Rate (%) 10.00 10

Business Actual Q1/23 Q2/23 Q3/23 Q4/23
Business Confidence (points) 66.00 71 80 85 80
Manufacturing PMI (points) 48.50 49.1 50 51 50
Industrial Production (%) -7.30 2.7 4.2 3.5 2.5
Industrial Production Mom (%) -2.90 0.8 1 1.5 1.5
Manufacturing Production (%) -3.76 3 3.5 4 3.6
Capacity Utilization (points) 105.20 105 105 105 105
Bankruptcies (Companies) 15.00 10 8 10 25
Car Registrations (Units) 123678.00 134000 120500 112000 140000
Leading Economic Index (points) 130.40 129 129 129 130
Car Production (units) 328173.00 340000 380000 300000 380000

Consumer Actual Q1/23 Q2/23 Q3/23 Q4/23
Consumer Confidence (points) 90.70 85 90 95 105
Retail Sales MoM (%) 1.40 0.6 -0.6 1
Retail Sales YoY (%) -2.50 2 2.8 3 4.2
Consumer Spending (KRW Billion) 233084.60 228566 237353 239361 239378
Disposable Personal Income (KRW Billion) 2078537.30 2134658
Personal Savings (%) 34.20 33.8 33.6 33.7 33.5
Consumer Credit (KRW Billion) 1870613.80 1904050 1925438 1908026 1921120
Bank Lending Rate (%) 5.56 5.81 5.81 5.81 5.56
Gasoline Prices (USD/Liter) 1.28 1.38 1.44 1.49 1.55
Households Debt to GDP (% of GDP) 105.60 105 104 104 100

Housing Actual Q1/23 Q2/23 Q3/23 Q4/23
Housing Index (points) 97.90 96.8 96 97 97.5
Construction Orders (KRW Million) 6622739.00 6500000 7900000 6500000 10000000
Construction Output (%) 10.20 3 2 3 2.5