New Tech Drives South Korea's IPO Boom
Upward of 20 companies went public on South Korea’s main market last year, raising around $14 billion—nearly double the previous record, set in 2010.
South Korea GDP and Economic Data
Includes South Korea real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about South Korea economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of South Korea best banks and safest banks are also available.
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International Reserves
USD 403.7 billion (2018)
International Monetary Fund (IMF), data retrieved October 2019
Gross Domestic Product - GDP
USD 1,619.4 billion (2018, estimate)
International Monetary Fund (IMF), data retrieved October 2019
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GDP (Purchasing Power Parity)
Intl$ 2,136.3 billion (2018, estimate)
International Monetary Fund (IMF), data retrieved October 2019
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Real GDP growth
| 2014 | 2015 | 2016 | 2017* | 2018* |
| 3.3% | 2.8% | 2.9% | 3.1% | 2.7% |
*Estimate
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GDP - composition by sector
- agriculture: 2.0%
- industry: 35.1%
- services: 53.6%
(2016 estimate)
Gross domestic expenditure on R&D; (% of GDP)
4.6% (2017)
OECD, data retrieved October 2019
Inflation
| 2014 | 2015 | 2016 | 2017* | 2018* |
| 0.7% | 1.0% | 1.9% | 1.5% | 0.5% |
*Estimate
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Unemployment rate
| 2014 | 2015 | 2016 | 2017* | 2018* |
| 3.6% | 3.7% | 3.7% | 3.8% | 4.0% |
*Estimate
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Public debt (General government gross debt as a % of GDP)
| 2014 | 2015 | 2016* | 2017* | 2018* |
| 37.3% | 37.3% | 37.7% | 37.9% | 40.1% |
*Estimate
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Public deficit (General government net lending/borrowing as a % of GDP)
| 2014 | 2015 | 2016* | 2017* | 2018* |
| -0.5% | 1.6% | 2.2% | 2.6% | 0.7% |
*Estimate
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Government bond ratings
Standard & Poor's: AA
Moody's: Aa2
Standard & Poor's / Moody's (Updated January 2017)
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Market value of publicly traded shares
| 2016 | 2017 | 2018 |
| USD 1254.5 billion | USD 1771.8 billion | USD 1413.7 billion |
Largest companies
Hyundai Engineering, Daelim Industrial, GS Engineering, Samsung Electro-Mechanics, LG Uplus, Hyundai Glovis, DGB Financial Group, Celltrion, NH Investment & Securities, JB Financial Group, Lotte, Meritz Securities, Samsung Securities, SK Networks, Hyundai Steel, S-Oil, LG Household & Health Care, Hyundai Marine & Fire, Doosan, Hyundai Heavy Industries, Lotte Shopping, Meritz Financial Group, BNK Financial Group, Mirae Asset Daewoo, E-mart, Korea Investment Holdings, Naver, Korean Air, KT&G, Korea Zinc, Samsung Electronics, SK Hynix, Hyundai Motor, KB Financial Group, Shinhan Financial Group, SK Holdings, Posco, Samsung Life Insurance, Hyundai Mobis, Samsung C&T, KIA Motors, SK Innovation, LG Chem, SK Telecom, Hana Financial Group, LG Electronics, Samsung Fire & Marine, Woori Financial Group, Korea Electric Power, Industrial Bank of Korea, LG, Hanwha, Lotte Chemical, KT, Korea Gas, Samsung SDI, GS Holdings, Db Insurance, CJ Cheiljedang, LG Display, Samsung SDS, CJ Corporation
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Current account balance
USD 76.4 billion (2018 estimate)
IMF - World Economic Outlook, October 2019
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Current account balance by percentage of GDP
4.4% (2018 estimate)
IMF - World Economic Outlook, October 2019
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Exports as percent of GDP (Exports of goods and services)
44% (2018)
World Bank - World Development Indicators (updated Oct 2019)
Shares in world total merchandising export
3.11% (2018
Shares in world total commercial services export
1.65% (2018)
Export commodities
Semiconductors, petrochemicals, automobile/auto parts, ships, wireless communication equipment, flat displays, steel, electronics, plastics, computers
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Import commodities
Crude oil/petroleum products, semiconductors, natural gas, coal, steel, computers, wireless communication equipment, automobiles, fine chemicals, textiles
Exports - major partners
China 25.1%, US 12.2%, Vietnam 8.2%, Hong Kong 6.9%, Japan 4.7% (2017)
Imports - major partners
China 20.5%, Japan 11.5%, US 10.5%, Germany 4.2%, Saudi Arabia 4.1% (2017)
FDI inflows
| 2016 | 2017 | 2018 |
| USD 12,104 million | USD 17,913 million | USD 14,479 million |
FDI outflows
| 2016 | 2017 | 2018 |
| USD 29,890 million | USD 34,069 million | USD 38.917 million |
Value of cross-border M&A, by country of purchaser
| 2015 | 2016 | 2017 | 2018 |
| USD 909 million | USD 4,596 million | USD 1,2646 million | USD 443.0 million |
Cross-border M&A deals worth over $3 billion completed in 2014
N/A
Cross-border M&A deals worth over $3 billion completed in 2015
N/A
Best countries for doing business
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 (2019)
Subcategories:
Starting a Business: 33 out of 190 countries
Dealing with Construction Permits: 12 out of 190 countries
Getting Electricity: 2 out of 190 countries
Registering Property: 40 out of 190 countries
Getting Credit: 67 out of 190 countries
Protecting Minority Investors: 25 out of 190 countries
Paying Taxes: 21 out of 190 countries
Trading across Borders: 36 out of 190 countries
Enforcing Contracts: 2 out of 190 countries
Resolving Insolvency: 11 out of 190 countries
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Global competitiveness ranking
13 out of 141 countries
(2019)
Index of Economic Freedom
Ranking: 29 / Score: 72.3 (Mostly free)
(100=totally free 0=totally repressed)
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Languages
Korean, English (widely taught in junior high and high school)
Religions
Protestant 19.7%, Buddhist 15.5%, Catholic 7.9%, none 56.9% (2015 est.)
Total population
| 1990 | 2000 | 2010 | 2015 | 2020* |
| 42.87 million | 47.01 million | 49.55 million | 51.02 million | 52.06 million |
*Estimate
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Urban population as % of total population
| 1960 | 1980 | 2000 | 2018 |
| 27.7% | 56.7% | 79.6% | 81.5% |
% of population living on less than $3.10 a day
0.5% (last available estimate, 2012)
Inequality of wealth distribution (Gini index)
31.6 (last available estimate, 2012)
Source
Freedom House rating
Political Rights: 2
Civil Liberties: 2 (2019)
(1 represents the most free, 7 the least free rating)
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Total telephone subscribers as % of population
Fixed 58.06% Mobile 118.46% (2015)
(fixed-telephone subscribers and mobile-cellular subscribers)