Source
Central bank

Bank of Korea

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

GDP (Purchasing Power Parity)

Intl$ 2,136.3 billion (2018, estimate)

International Monetary Fund (IMF), data retrieved October 2019

Real GDP growth
2014 2015 2016 2017* 2018*
3.3% 2.8% 2.9% 3.1% 2.7%

*Estimate

GDP per capita - current prices

USD 31,345.6 (2018, estimate)

GDP per capita - PPP

Intl$ 39,778.1 (2017, estimate)

GDP (PPP) - share of world total

1.6% (2019, estimate)

 
 
Source
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

Unemployment rate
2014 2015 2016 2017* 2018*
3.6% 3.7% 3.7% 3.8% 4.0%

*Estimate

Household saving rates

7.2% (Total, 2014)

 

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

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   

Government bond ratings

Standard & Poor's: AA

Moody's: Aa2

Standard & Poor's / Moody's (Updated January 2017)

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

 
 
Source
Current account balance

USD 76.4 billion (2018 estimate)

IMF - World Economic Outlook, October 2019

Current account balance by percentage of GDP

4.4% (2018 estimate)

IMF - World Economic Outlook, October 2019

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)

Total exports

USD 722.0 billion (2018 estimate)

Export commodities

Semiconductors, petrochemicals, automobile/auto parts, ships, wireless communication equipment, flat displays, steel, electronics, plastics, computers

Total imports

USD 637.8 billion (2018 estimate)

 
 
Source
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

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)

 
 
Source
Time zone

UTC+9

Total area

 99,720 sq km

Capital

Seoul

Currency

South Korean won (KRW)

Government type

Presidential republic

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

 
 
Source
Urban population as % of total population
1960 1980 2000 2018
27.7% 56.7% 79.6% 81.5%
Population median age

42.3

Population growth rate

0.53% (2016 estimate)

Life expectancy

82.5 years (2018 estimate)

Literacy

N/A

% 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)

Freedom House rating

Political Rights: 2
Civil Liberties: 2 (2019)                         

(1 represents the most free, 7 the least free rating)

Source
Total telephone subscribers as % of population

Fixed 58.06%   Mobile 118.46% (2015)
(fixed-telephone subscribers and mobile-cellular subscribers)

Internet users as % of total population

89.65% (2015)

Mercer Cost of living index

N/A

CO2 emissions

1.62 metric tons per capita (2014)

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