Markets Actual Q3 Q4 Q1 Q2 2021
Currency 1199.40 1207 1213 1219 1225 1238
Stock Market (points) 2135.37 2089 2043 1999 1955 1868
Government Bond 10Y (%) 1.38 1.41 1.45 1.49 1.52 1.6

Overview Actual Q3 Q4 Q1 Q2 2021
GDP Growth Rate (%) -1.30 0.8 1 1 1 1
GDP Annual Growth Rate (%) 1.40 -1.2 0.6 1.2 3.5 3
Unemployment Rate (%) 4.50 4.9 4.6 4.4 4.2 4
Inflation Rate (%) 0.00 1.5 1.4 1.4 2.5 2.1
Inflation Rate Mom (%) 0.20 0.6 0.2 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) 3670.00 9500 5800 5800 5800 5800
Current Account (USD Million) -3124.30 5500 4500 4500 4500 4100
Current Account to GDP (%) 3.70 5 5 4.9 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 -6.2 -6.2 -6.2
Business Confidence (points) 51.00 49 51 54 54 61
Manufacturing PMI (points) 43.40 48.1 48.7 50.2 50.2 49.7
Consumer Confidence (points) 81.80 85 70 70 70 99
Retail Sales MoM (%) 4.60 0.3 0.9 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 Q3 Q4 Q1 Q2 2021
GDP Growth Rate (%) -1.30 0.8 1 1 1 1
GDP Annual Growth Rate (%) 1.40 -1.2 0.6 1.2 3.5 3
GDP (USD Billion) 1690.00 1700 1700 1790 1790 1790
GDP Constant Prices (KRW Billion) 462805.50 460894 471627 468359 479004 485776
Gross National Product (KRW Billion) 437974.60 454626 480751 443230 453304 495174
Gross Fixed Capital Formation (KRW Billion) 136891.30 129289 135437 138534 141682 139500
GDP per capita (USD) 26761.90 27912 27912 28493 28493 28493
GDP per capita PPP (USD) 36776.50 38201 38201 38201 36831 38540
GDP From Agriculture (KRW Billion) 8423.20 8213 8168 8524 8718 8413
GDP From Construction (KRW Billion) 22365.00 21040 22293 22633 23148 22961
GDP From Manufacturing (KRW Billion) 123745.40 123485 126743 125230 128076 130545
GDP From Mining (KRW Billion) 559.30 454 502 566 579 517
GDP From Public Administration (KRW Billion) 27295.60 27002 27459 27623 28251 28283
GDP From Services (KRW Billion) 255204.60 257259 261645 258267 264137 269495
GDP From Transport (KRW Billion) 13684.00 15573 15742 13848 14163 16215
GDP From Utilities (KRW Billion) 12227.90 11055 11598 12375 12656 11946

Labour Actual Q3 Q4 Q1 Q2 2021
Unemployment Rate (%) 4.50 4.9 4.6 4.4 4.2 4
Employed Persons (Thousand ) 26657.00 273500 27500 27500 27500 27500
Unemployed Persons (Thousand ) 1242.00 1120 1110 1110 1110 1110
Labor Force Participation Rate (%) 63.00 64 63 63 63 63
Labour Costs (points) 101.50 140 142 142 142 142
Wages (KRW/Month) 4003335.00 3981000 3886000 4251000 4251000 4042000
Wages in Manufacturing (KRW/Month) 4432727.00 4309000 4322000 4791000 4791000 4457000
Minimum Wages (KRW/Hour) 8590.00 8590 8590 8990 8990 8990
Population (Million) 51.71 51.78 51.78 52.36 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 (%) 10.30 8.8 8.4 8.4 8.4 8.4
Employment Rate (%) 59.40 59.3 59 60.9 60.9 61.5

Prices Actual Q3 Q4 Q1 Q2 2021
Inflation Rate (%) 0.00 1.5 1.4 1.4 2.5 2.1
Inflation Rate Mom (%) 0.20 0.6 0.2 0.2 0.2 0.2
Consumer Price Index CPI (points) 104.71 107 107 107 107 109
Core Consumer Prices (points) 105.86 107 107 107 107 109
Core Inflation Rate (%) 0.30 1.5 1.4 1.4 1.4 1.7
Producer Prices (points) 101.98 105 106 105 104 108
Producer Prices Change (%) -1.70 1.2 1.9 1.9 1.9 1.9
Food Inflation (%) 1.70 1.7 2.4 2.4 2.4 2.4
Cpi Housing Utilities (points) 103.57 105 105 106 106 107
CPI Transportation (points) 96.00 105 105 103 98.4 107

Money Actual Q3 Q4 Q1 Q2 2021
Interest Rate (%) 0.50 0.25 0.25 0.25 0.25 0.5
Interbank Rate (%) 0.69 0.69 0.69 0.69 0.69 0.69
Money Supply M2 (KRW Billion) 3020227.00 2890000 3130000 3130000 3130000 3130000
Foreign Exchange Reserves (USD Million) 407310.60 413200 414637 416091 416091 420454
Loans to Private Sector (KRW Hundred Million) 9451416.00 8583251 8741922 9121177 9782216 9004179
Deposit Interest Rate (%) 1.37 1.51 3.5 1.51 1.51 1.76
Private Debt To GDP (%) 260.80 261 261 261 261 259
Central Bank Balance Sheet (KRW Billion) 528555.00 501369 504021 506673 506673 514629
Foreign Stock Investment (USD Million) 620784.20 740000 690000 690000 690000 680000

Trade Actual Q3 Q4 Q1 Q2 2021
Balance of Trade (USD Million) 3670.00 9500 5800 5800 5800 5800
Current Account (USD Million) -3124.30 5500 4500 4500 4500 4100
Current Account to GDP (%) 3.70 5 5 4.9 4.9 4.9
Imports (USD Million) 35500.00 40500 45000 45000 45000 45900
Exports (USD Million) 39200.00 50000 50800 50800 50800 51700
External Debt (USD Million) 485814.70 480076 480648 480648 480648 499401
Foreign Direct Investment (USD Thousand ) 3275220.00 4500000 9040000 9040000 9040000 9040000
Tourism Revenues (USD Million) 360000.00 1390000 1420000 1420000 1420000 1420000
Tourist Arrivals 29415.00 75000 1050000 1200000 1200000 1450000
Weapons Sales (USD Million) 1083.00 560 560 560 560 560

Government Actual Q3 Q4 Q1 Q2 2021
Government Debt to GDP (%) 36.60 40 40 40 40 40.5
Government Budget (% of GDP) -1.60 -5.7 -5.7 -6.2 -6.2 -6.2
Government Budget Value (KRW Billion) -43345.00 -20000 18000 18000 18000 23000
Government Spending (KRW Billion) 79428.70 76489 79254 80382 82209 81632
Government Revenues (KRW Billion) 155748.00 3150000 425000 425000 425000 425000
Fiscal Expenditure (KRW Billion) 199094.00 245000 399000 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 Q3 Q4 Q1 Q2 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 Q3 Q4 Q1 Q2 2021
Business Confidence (points) 51.00 49 51 54 54 61
Manufacturing PMI (points) 43.40 48.1 48.7 50.2 50.2 49.7
Industrial Production (%) -9.60 1.2 1.8 1.8 1.8 2
Industrial Production Mom (%) -6.70 0.9 1.7 1.7 1.7 1.7
Manufacturing Production (%) -9.80 1.1 1.1 1.1 1.1 1.5
Capacity Utilization (points) 103.90 103 105 105 105 105
Bankruptcies (Companies) 23.00 40 27 27 27 27
Car Registrations 147121.00 105000 115000 115000 115000 110000
Leading Economic Index (points) 118.40 114 116 116 116 115
Mining Production (%) 1.50 -3 4.7 4.7 4.7 4.7
Steel Production (Thousand Tonnes) 5386.91 6300 6410 6410 6410 6410
Coincident Index (points) 110.90 111 111 111 111 111
Car Production 3950617.00 4250000 4250000 4250000 4250000 4250000
Electricity Production (Gigawatt-hour) 21881.82 23500 25100 25100 25100 25300

Consumer Actual Q3 Q4 Q1 Q2 2021
Consumer Confidence (points) 81.80 85 70 70 70 99
Retail Sales MoM (%) 4.60 0.3 0.9 0.9 0.9 0.9
Retail Sales YoY (%) 1.70 3.9 5 5 5 5
Consumer Spending (KRW Billion) 210041.30 221376 225269 212562 217393 232027
Disposable Personal Income (KRW Billion) 1925872.90 1883216 1937428 1948983 1993278 1995551
Personal Savings (%) 35.00 34 33.6 33.6 33.6 32.9
Consumer Credit (KRW Billion) 1611271.40 1566369 1609733 1630607 1667666 1658025
Bank Lending Rate (%) 2.80 2.8 2.8 2.8 2.8 2.8
Households Debt To GDP (% of GDP) 95.50 93.6 93.6 93.6 93.6 94.9
Gasoline Prices (USD/Liter) 1.12 1.06 1.01 0.96 0.91 0.87

Housing Actual Q3 Q4 Q1 Q2 2021
Housing Index (points) 101.90 102 102 102 102 102
Home Ownership Rate (%) 57.70 58.2 58.2 58.2 58.2 57.7
Construction Orders (KRW Million) 4745281.00 4400000 9890000 9890000 9890000 9000000
Construction Output (%) -5.80 1 1.9 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.