Household Saving Rate in South Korea decreased to 34.50 percent in the second quarter of 2020 from 36 percent in the first quarter of 2020. source: The Bank of Korea

Personal Savings in South Korea averaged 32.61 percent from 1970 until 2020, reaching an all time high of 42.70 percent in the first quarter of 1988 and a record low of 13.40 percent in the third quarter of 1971. This page provides - South Korea Households Savings - actual values, historical data, forecast, chart, statistics, economic calendar and news. South Korea Household Gross Saving Ratio - values, historical data and charts - was last updated on October of 2020.

Personal Savings in South Korea is expected to be 34.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Personal Savings in South Korea to stand at 33.60 in 12 months time. In the long-term, the South Korea Household Gross Saving Ratio is projected to trend around 32.90 percent in 2021, according to our econometric models.

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South Korea Household Gross Saving Ratio

Actual Previous Highest Lowest Dates Unit Frequency
34.50 36.00 42.70 13.40 1970 - 2020 percent Quarterly
SA

South Korea Consumer Last Previous Highest Lowest Unit
Consumer Confidence 79.40 88.20 121.50 67.70 points [+]
Retail Sales MoM 3.00 -6.00 5.50 -12.50 percent [+]
Retail Sales YoY 0.30 0.50 20.20 -21.50 percent [+]
Consumer Spending 213186.30 210078.60 224585.80 7263.90 KRW Billion [+]
Disposable Personal Income 1925872.90 1890779.40 1925872.90 2866.70 KRW Billion [+]
Personal Savings 34.50 36.00 42.70 13.40 percent [+]
Consumer Credit 1637276.40 1611271.40 1637276.40 142746.90 KRW Billion [+]
Bank Lending Rate 2.63 2.70 17.01 2.63 percent [+]
Economic Optimism Index 73.00 80.00 117.00 55.00 Net Balance [+]
Gasoline Prices 1.15 1.15 1.84 0.54 USD/Liter [+]
Households Debt To GDP 95.90 95.50 95.90 1.40 percent of GDP [+]
Consumer Confidence Current Conditions 96.00 93.00 117.00 25.00 [+]
Consumer Confidence Economic Expectations 109.00 112.00 122.00 49.00 [+]
Consumer Confidence Financial Expectations 103.00 103.00 107.00 82.00 [+]
Consumer Confidence Major Purchases Expectations 97.00 96.00 97.00 73.00 [+]
Consumer Confidence Price Trends 139.00 139.00 163.00 129.00 [+]
Consumer Confidence Savings Expectations 97.00 97.00 102.00 82.00 [+]
Consumer Confidence Unemployment Expectations 110.00 121.00 121.00 41.00 [+]


South Korea Household Gross Saving Ratio
In South Korea, Households Savings correspond to the income saved during a certain period of time.