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Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about South Korea economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of South Korea best banks and safest banks are also available.
South Korea | Country Report
One of Asia’s most powerful economies, South Korea is maneuvering deftly between even more powerful neighbors and allies.
USD 363.3 billion (2015)
International Monetary Fund (IMF), data retrieved January 2017
USD 1,521.0 billion (2017, estimate)
Intl$ 2,029.9 billion (2017, estimate)
2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 |
5.2% | 5.5% | 2.8% | 0.7% | 6.5% | 3.7% | 2.3% |
2013 | 2014 | 2015 | 2016* | 2017* | ||
2.9% | 3.3% | 2.6% | 2.7% | 3% |
*Estimate
USD 29,806.2 (2017, estimate)
1980 | 1990 | 2000 | 2010 | 2017* |
0.69% | 1.26% | 1.59% | 1.69% | 1.6% |
*Estimate
(2016 estimate)
4.3% (2014)
OECD, data retrieved January 2017
2013 | 2014 | 2015 | 2016* | 2017* |
1.3% | 1.3% | 0.7% | 1.0% | 1.9% |
*Estimate
2013 | 2014 | 2015 | 2016* | 2017* |
3.1% | 3.5% | 3.6% | 3.6% | 3.3% |
*Estimate
2013 | 2014 | 2015 | 2016* | 2017* |
33.8% | 35.9% | 37.9% | 38.9% | 39.2% |
*Estimate
2013 | 2014 | 2015 | 2016* | 2017* |
0.7% | 0.4% | 0.3% | 0.8% | 1.1% |
*Estimate
Standard & Poor's: AA
Moody's: Aa2
Standard & Poor's / Moody's (Updated January 2017)
2013 | 2014 | 2015 |
USD 1234.5 billion | USD 1212.8 billion | USD 1231.2 billion |
Samsung Electronics, Korea Electric Power, Hyundai Motor, SK Holdings, Shinhan Financial Group, Samsung Life Insurance, KIA Motors, Hyundai Mobis, KB Financial Group, Cheil Industries, SK Hynix, Samsung Fire & Marine, SK Innovation, SK Telecom, LG Chem, Posco, Woori Bank, Hana Financial Group, Industrial Bank of Korea, LG Display, Hyundai Steel, LG Electronics, Hyundai Heavy Industries, KT Corp, LG Corp, Hanwha Corp, Lotte Shopping, S-Oil, Lotte Chemical, Korea Gas, Dongbu Insurance, Doosan, GS Holdings, Hyundai Engineering, KT&G, CJ Corp, Amorepacific, BS Financial Group, Samsung SDS, Hyundai Marine & Fire, E-mart, Hyosung, Naver, LG Household & Health Care, DSME, Korean Air, Hyundai Glovis, Meritz Financial Group, Entermate, LIG Insurance, Hankook Tire, Samsung SDI, Korea Zinc, Samsung Heavy Industries, CJ Cheiljedang, LG Uplus, SK Networks, DGB Financial Group, Pacific Corp, Korea Investment Holdings, NH Investment & Securities, GS Engineering, Daewoo Securities, JB Financial Group, LG International, Kangwon Land, Hanwha Chemical.
5.9% (2017 estimate)
45.9% (2015)
3.2% (2015)
2.0% (2015)
Semiconductors, petrochemicals, automobile/auto parts, ships, wireless communication equipment, flat display displays, steel, electronics, plastics, computers
Crude oil/petroleum products, semiconductors, natural gas, coal, steel, computers, wireless communication equipment, automobiles, fine chemical, textiles
China 26%, US 13.3%, Hong Kong 5.8%, Vietnam 5.3%, Japan 4.9% (2015)
China 20.7%, Japan 10.5%, US 10.1%, Germany 4.8%, Saudi Arabia 4.5% (2015)
2013 | 2014 | 2015 |
USD 12,767 million | USD 9,274 million | USD 5,042 million |
2013 | 2014 | 2015 |
USD 28,360 million | USD 28,039 million | USD 27,640 million |
2012 | 2013 | 2014 | 2015 |
USD 5713.9 million | USD 4027.0 million | USD 3305.4 million | USD 563.0 million |
N/A
Investor Group, Tesco PLC-Homeplus Group, Korea, Republic of, USD 6.4 billion / Investor Group, Halla Visteon Climate Control Corp, Korea, Republic of, USD 3.5 billion
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.
Overall ranking: 5 out of 190 countries (2017)
Subcategories:
Starting a business: 11 out of 190 countries
Enforcing Contracts: 1 out of 190 countries
Registering Property: 39 out of 190 countries
Getting Credit: 44 out of 190 countries
Protecting Minority Investors: 13 out of 190 countries
Trading Across Borders: 32 out of 190 countries
Paying Taxes: 23 out of 190 countries
Dealing with Construction Permits: 31 out of 190 countries
Getting Electricity: 1 out of 190 countries
Resolving Insolvency: 4 out of 190 countries
26 out of 138 countries
(2016-2017)
Ranking: 27 / Score: 71.74 (Mostly free) (2016)
(100=totally free 0=totally repressed)
Korean, English (widely taught in junior high and high school)
Christian 31.6% (Protestant 24.0%, Catholic 7.6%), Buddhist 24.2%, other or unknown 0.9%, none 43.3% (2010 est.)
1990 | 2000 | 2010 | 2016* | 2021* |
42.869 million | 47.008 million | 49.41 million | 50.823 million | 51.865 million |
*Estimate
1960 | 1980 | 2000 | 2015 |
28% | 57% | 80% | 83% |
Political Rights: 2
Civil Liberties: 2 (2017)
(1 represents the most free, 7 the least free rating)
Fixed 58.06% Mobile 118.46% (2015)
(fixed-telephone subscribers and mobile-cellular subscribers)