Markets Actual Q4 Q1 Q2 Q3 2020
Currency 1179.22 1173 1180 1186 1193 1206
Stock Market (points) 2060.69 2036 2012 1987 1964 1917
Government Bond 10Y (%) 1.59 1.49 1.52 1.55 1.58 1.65
Overview Actual Q4 Q1 Q2 Q3 2020
GDP Growth Rate (%) 1.00 0.9 1.2 0.9 0.8 1
GDP Annual Growth Rate (%) 2.00 2 2.5 2.6 2.4 2.3
Unemployment Rate (%) 3.40 3.7 3.8 3.9 3.8 3.7
Inflation Rate (%) -0.40 0.5 1.1 1.3 1.5 1.4
Inflation Rate Mom (%) 0.40 0.3 0.3 0.3 0.6 0.2
Interest Rate (%) 1.25 1.25 1.25 1.25 1.25 1.25
Balance of Trade (USD Million) 5973.00 3900 4500 4500 4100 5800
Current Account (USD Million) 5270.00 3200 4500 6900 5500 4500
Current Account to GDP (%) 4.70 4.2 3.8 3.8 3.8 3.8
Government Debt to GDP (%) 36.60 39 40 40 40 40
Government Budget (% of GDP) -1.60 -2.7 -3.2 -3.2 -3.2 -3.2
Business Confidence (Index Points) 71.00 65 67 69 68 71
Manufacturing PMI 48.00 49.4 50.2 49.8 50.1 48.7
Consumer Confidence (Index Points) 96.90 89 92 95 94 96
Retail Sales MoM (%) 3.90 0.7 0.5 0.6 0.3 0.9
Corporate Tax Rate (%) 25.00 25 25 25 25 25
Personal Income Tax Rate (%) 40.00 40 40 40 40 40
GDP Actual Q4 Q1 Q2 Q3 2020
GDP Growth Rate (%) 1.00 0.9 1.2 0.9 0.8 1
GDP Annual Growth Rate (%) 2.00 2 2.5 2.6 2.4 2.3
GDP (USD Billion) 1619.42 1690 1780 1780 1780 1780
GDP Constant Prices (KRW Billion) 459813.40 465905 466458 471769 470849 476621
Gross National Product (KRW Billion) 450227.40 483170 446785 461933 461033 494282
Gross Fixed Capital Formation (KRW Billion) 133364.50 137778 134579 136832 136565 140947
GDP per capita (USD) 26761.90 26800 26800 26800 27200 27200
GDP per capita PPP (USD) 36776.50 37400 38201 38201 38201 38201
GDP From Agriculture (KRW Billion) 8174.20 8268 8695 8387 8370 8458
GDP From Construction (KRW Billion) 22202.10 22510 22402 22779 22735 23028
GDP From Manufacturing (KRW Billion) 121116.70 126331 122808 124266 124024 129237
GDP From Mining (KRW Billion) 505.90 545 536 519 518 558
GDP From Public Administration (KRW Billion) 26855.50 26823 27240 27554 27500 27439
GDP From Services (KRW Billion) 256848.50 257920 261269 263527 263013 263852
GDP From Transport (KRW Billion) 15521.40 16086 15611 15925 15894 16456
GDP From Utilities (KRW Billion) 12845.80 11839 11891 13180 13154 12111
Labour Actual Q4 Q1 Q2 Q3 2020
Unemployment Rate (%) 3.40 3.7 3.8 3.9 3.8 3.7
Unemployed Persons (Thousand ) 954.00 1080 1080 1100 1120 1110
Labor Force Participation Rate (%) 63.50 62.5 63.4 64 64 63
Labour Costs (Index Points) 129.90 140 140 140 140 142
Wages (KRW/Month) 3585588.00 4041000 4362000 4027000 4291000 4236000
Wages in Manufacturing (KRW/Month) 3804036.00 4347000 5032000 4244000 4519000 4542000
Minimum Wages (KRW/Hour) 8350.00 8350 10000 10000 10000 10000
Population (Million) 51.61 51.71 51.82 51.82 51.82 51.82
Retirement Age Women 60.00 60 60 60 60 60
Retirement Age Men 60.00 60 60 60 60 60
Youth Unemployment Rate (%) 7.10 8.5 10.6 10.3 8.8 8.4
Employment Rate (%) 61.50 61.4 61.4 61.4 61.4 61.5
Prices Actual Q4 Q1 Q2 Q3 2020
Inflation Rate (%) -0.40 0.5 1.1 1.3 1.5 1.4
Inflation Rate Mom (%) 0.40 0.3 0.3 0.3 0.6 0.2
Consumer Price Index CPI (Index Points) 105.20 106 107 106 106 109
Core Consumer Prices (Index Points) 105.28 106 107 106 107 109
Core Inflation Rate (%) 0.60 1.1 1.2 1.4 1.5 1.4
Producer Prices (Index Points) 103.73 105 105 105 105 107
Producer Prices Change (%) -0.60 0.8 1.3 1.5 1.2 1.9
Food Inflation (%) -4.10 1 1.9 1.8 1.7 2.4
Cpi Housing Utilities (Index Points) 103.18 104 105 104 104 107
CPI Transportation (Index Points) 102.99 103 101 100 105 106
Money Actual Q4 Q1 Q2 Q3 2020
Interest Rate (%) 1.25 1.25 1.25 1.25 1.25 1.25
Interbank Rate (%) 1.43 1.87 1.87 1.51 1.51 1.87
Money Supply M2 (KRW Billion) 2815403.80 2890000 2890000 2890000 2890000 3130000
Foreign Exchange Reserves (USD Million) 403320.00 402400 402400 401500 401500 402700
Loans to Private Sector (KRW Hundred Million) 8617722.00 8405724 8581364 8740061 8824547 8599056
Deposit Interest Rate (%) 1.81 2.2 1.97 1.97 1.97 3.5
Private Debt To GDP (%) 260.80 263 261 261 261 261
Central Bank Balance Sheet (KRW Billion) 495882.70 493500 499500 495500 494500 498600
Foreign Stock Investment (USD Hundreds of Millions) 708835.90 680780 710080 740000 740000 690000
Trade Actual Q4 Q1 Q2 Q3 2020
Balance of Trade (USD Million) 5973.00 3900 4500 4500 4100 5800
Current Account (USD Million) 5270.00 3200 4500 6900 5500 4500
Current Account to GDP (%) 4.70 4.2 3.8 3.8 3.8 3.8
Imports (USD Million) 38738.00 43900 41500 39800 40500 45000
Exports (USD Million) 44712.00 47800 45000 43900 50000 50800
External Debt (USD Million) 462061.90 460292 461599 461599 480076 480648
Foreign Direct Investment (USD Thousand ) 3612754.00 6557000 3300000 6500000 4500000 9040000
Tourism Revenues (USD Million) 1522800.00 1310000 1505000 1555000 1390000 1420000
Tourist Arrivals 1586299.00 1350000 1490000 1490000 1350000 1380000
Government Actual Q4 Q1 Q2 Q3 2020
Government Debt to GDP (%) 36.60 39 40 40 40 40
Government Budget (% of GDP) -1.60 -2.7 -3.2 -3.2 -3.2 -3.2
Government Spending (KRW Billion) 75743.40 75336 75972 77713 77561 77068
Government Spending To GDP (%) 32.26 37.5 38 38 38 38
Taxes Actual Q4 Q1 Q2 Q3 2020
Corporate Tax Rate (%) 25.00 25 25 25 25 25
Personal Income Tax Rate (%) 40.00 40 40 40 40 40
Sales Tax Rate (%) 10.00 10 10 10 10 10
Social Security Rate (%) 18.81 18.81 18.81 18.81 18.81 18.81
Social Security Rate For Companies (%) 10.40 10.4 10.4 10.4 10.4 10.4
Social Security Rate For Employees (%) 8.41 8.41 8.41 8.41 8.41 8.41
Business Actual Q4 Q1 Q2 Q3 2020
Business Confidence (Index Points) 71.00 65 67 69 68 71
Manufacturing PMI 48.00 49.4 50.2 49.8 50.1 48.7
Industrial Production (%) -2.90 1 1.1 0.5 1.2 1.8
Industrial Production Mom (%) -1.40 2.3 -0.5 -0.8 0.9 1.7
Manufacturing Production (%) -3.00 0.9 0.9 0.5 1.1 1.1
Car Registrations 120147.00 117000 121000 113000 105000 115000
Leading Economic Index (Index Points) 114.90 114 114 114 114 116
Steel Production (Thousand Tonnes) 5940.66 6300 6300 6300 6300 6410
Mining Production (%) -2.90 1.2 1.2 -1.5 -3 4.7
Coincident Index (Index Points) 111.20 110 111 111 111 111
Car Production 4028834.00 4150000 4250000 4250000 4250000 4250000
Electricity Production (Gigawatt-hour) 24255.21 24800 23850 23500 23500 25100
Consumer Actual Q4 Q1 Q2 Q3 2020
Consumer Confidence (Index Points) 96.90 89 92 95 94 96
Retail Sales MoM (%) 3.90 0.7 0.5 0.6 0.3 0.9
Retail Sales YoY (%) 4.10 2.8 3.2 3.5 3.9 5
Consumer Spending (KRW Billion) 221901.20 224507 225928 227671 227227 229670
Disposable Personal Income (KRW Billion) 1890779.40 1928595 1938049 1939940 1936158 1972953
Consumer Credit (KRW Billion) 1556091.90 1567447 1578545 1596550 1593438 1603498
Bank Lending Rate (%) 3.19 3.7 3.7 3.49 3.49 3.7
Households Debt To GDP (% of GDP) 92.10 92.8 93 93.1 93.6 93.6
Gasoline Prices (USD/Liter) 1.28 1.14 1.1 1.07 1.04 0.98
Housing Actual Q4 Q1 Q2 Q3 2020
Housing Index (Index points) 99.60 100 100 102 102 102
Home Ownership Rate (%) 57.70 58 58.2 58.2 58.2 58.2
Construction Orders (KRW Million) 2976163.00 9970336 6610000 4610000 4700000 9890000
Construction Output (%) -6.90 -3 -1.2 0.5 1 1.9


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.