Markets Actual Q4 Q1 Q2 Q3 2023
Currency 1341.01 1356 1378 1401 1424 1470
Stock Market (points) 2408.27 2363 2290 2219 2151 2021
Government Bond 10Y (%) 3.61 3.71 3.81 3.9 4 4.2

Overview Actual Q4 Q1 Q2 Q3 2023
GDP Growth Rate (%) 0.30 0.8 1.3 0.5 1 0.6
GDP Annual Growth Rate (%) 3.10 2.6 2.4 2.4 2 2.7
Unemployment Rate (%) 2.80 3.2 2.8 3 2.9 3.6
Inflation Rate (%) 5.70 6 5.6 5 4.5 4
Inflation Rate MoM (%) 0.30 0.1 0.5 0.5 0.2 0.2
Interest Rate (%) 3.25 3.25 3.5 3.5 3.5 3.5
Balance of Trade (USD Million) -6696.00 4700 -3500 3500 10000 6700
Current Account (USD Million) 1610.00 1600 5600 5600 5500 7900
Current Account to GDP (% of GDP) 4.90 2.4 3.5 3.5 3.5 3.5
Government Debt to GDP (% of GDP) 46.90 50 50 50 50 53
Government Budget (% of GDP) -5.60 -5.1 -2.8 -2.8 -2.8 -2.2
Business Confidence (points) 74.00 72 81 90 85 80
Manufacturing PMI (points) 48.20 48 49 52 51 50
Consumer Confidence (points) 86.50 86 85 90 95 105
Retail Sales MoM (%) -1.80 0.3 0.3 -0.6 1 0.9
Corporate Tax Rate (%) 27.50 27.5 24.5 24.5 24.5 24.5
Personal Income Tax Rate (%) 45.00 45 45 45 45 45

GDP Actual Q4 Q1 Q2 Q3 2023
GDP Growth Rate (%) 0.30 0.8 1.3 0.5 1 0.6
GDP Annual Growth Rate (%) 3.10 2.6 2.4 2.4 2 2.7
GDP (USD Billion) 1798.53 1710 1710 1710 1710 1780
GDP Constant Prices (KRW Billion) 493320.80 495630 498796 503683 503187 509012
Gross National Product (KRW Billion) 465618.60 503690 466480 476793 474931 517290
Gross Fixed Capital Formation (KRW Billion) 143091.00 144993 142135 142817 145953 148907
GDP per Capita (USD) 32644.67 28075 28075 28075 28075 28075
GDP per Capita PPP (USD) 44116.01 42500 42500 42500 42500 42500
Full Year GDP Growth (%) 4.02 2.5 2 2 2 2
GDP from Agriculture (KRW Billion) 8139.30 8583 8934 8099 8302 8814
GDP from Construction (KRW Billion) 21630.50 22081 21958 21824 22063 22677
GDP from Manufacturing (KRW Billion) 131551.20 133124 137416 135567 134182 136719
GDP from Mining (KRW Billion) 514.00 496 484 434 524 509
GDP from Public Administration (KRW Billion) 29534.50 30182 30139 30243 30125 30997
GDP from Services (KRW Billion) 281645.70 279848 279343 286309 287279 287404
GDP from Transport (KRW Billion) 15168.70 14885 14438 15899 15472 15286
GDP from Utilities (KRW Billion) 12428.60 12481 13034 12701 12677 12818

Labour Actual Q4 Q1 Q2 Q3 2023
Unemployment Rate (%) 2.80 3.2 2.8 3 2.9 3.6
Employed Persons (Thousand ) 28167.00 28100 27800 27900 28000 28000
Unemployed Persons (Thousand ) 812.00 1050 750 840 820 1100
Labor Force Participation Rate (%) 64.30 63.8 63.6 64.5 64 63
Wages (KRW/Month) 3928819.00 4282000 4756000 4151000 4689000 4551000
Wages in Manufacturing (KRW/Month) 4220311.00 4827000 5517000 4491000 4951000 5042000
Minimum Wages (KRW/Hour) 9160.00 9160 9500 9500 9500 9500
Population (Million) 51.74 51.98 51.98 51.98 51.98 52.1
Retirement Age Women 60.00 60 60 60 60 60
Retirement Age Men 60.00 60 60 60 60 60
Employment Rate (%) 62.80 62 61.9 62 61.6 60
Youth Unemployment Rate (%) 5.70 5.5 6.5 6.5 5 5.5

Prices Actual Q4 Q1 Q2 Q3 2023
Inflation Rate (%) 5.70 6 5.6 5 4.5 4
Inflation Rate MoM (%) 0.30 0.1 0.5 0.5 0.2 0.2
Consumer Price Index CPI (points) 109.21 110 112 114 114 115
Core Consumer Prices (points) 107.47 108 109 110 110 110
Core Inflation Rate (%) 4.77 4.5 4 3.2 2.5 1.6
Producer Prices (points) 120.61 121 124 127 126 125
Producer Prices Change (%) 7.30 7 6.5 5.8 5 3.5
Export Prices (points) 132.90 132 128 125 120 120
Import Prices (points) 156.89 152 149 145 140 140
Food Inflation (%) 7.54 7.8 6 4.5 4 2.4
CPI Housing Utilities (points) 110.71 110 111 112 113 114
CPI Transportation (points) 115.18 115 116 116 117 117

Money Actual Q4 Q1 Q2 Q3 2023
Interest Rate (%) 3.25 3.25 3.5 3.5 3.5 3.5
Interbank Rate (%) 4.06 4.06 4.31 4.31 4.31 4.31
Money Supply M2 (KRW Billion) 3745708.50 3779000 3779000 3779000 3779000 4069517
Foreign Exchange Reserves (USD Million) 414010.00 430000 434000 440000 445000 450000
Loans to Private Sector (KRW Hundred Million) 11691637.00 10933914 11201525 11522006 11785700 11229129
Deposit Interest Rate (%) 3.36 3.61 3.86 3.86 3.86 3.86
Central Bank Balance Sheet (KRW Billion) 581762.10 562000 552000 560000 565000 638386
Private Debt to GDP (%) 275.17 293 285 285 285 285

Trade Actual Q4 Q1 Q2 Q3 2023
Balance of Trade (USD Million) -6696.00 4700 -3500 3500 10000 6700
Current Account (USD Million) 1610.00 1600 5600 5600 5500 7900
Current Account to GDP (% of GDP) 4.90 2.4 3.5 3.5 3.5 3.5
Imports (USD Million) 59178.00 63000 60000 55000 50000 45000
Exports (USD Million) 52482.00 54500 56500 58500 60000 51700
External Debt (USD Million) 638980.80 675000 680000 670000 670000 660000
Tourist Arrivals 334351.00 250000 250000 350000 400000 450000

Government Actual Q4 Q1 Q2 Q3 2023
Government Debt to GDP (% of GDP) 46.90 50 50 50 50 53
Government Budget (% of GDP) -5.60 -5.1 -2.8 -2.8 -2.8 -2.2
Government Budget Value (KRW Billion) -52719.00 -23000 -23000 -23000 -23000 -23000
Government Spending (KRW Billion) 87475.10 88512 88487 89741 89225 90902
Government Revenues (KRW Billion) 460929.00 399000 399000 399000 399000 399000
Fiscal Expenditure (KRW Billion) 513649.00 580000 200000 200000 460000 600000
Asylum Applications (Persons) 2341.00 5500 5500 5500 5500 3800
Government Spending to GDP (% of GDP) 33.87 39 39 39 39 39

Taxes Actual Q4 Q1 Q2 Q3 2023
Corporate Tax Rate (%) 27.50 27.5 24.5 24.5 24.5 24.5
Personal Income Tax Rate (%) 45.00 45 45 45 45 45
Sales Tax Rate (%) 10.00 10 10 10 10 10
Social Security Rate (%) 19.24 18.94 18.94 18.94 18.94 18.94
Social Security Rate For Companies (%) 10.11 9.96 9.96 9.96 9.96 9.96
Social Security Rate For Employees (%) 9.13 8.98 8.98 8.98 8.98 8.98

Business Actual Q4 Q1 Q2 Q3 2023
Business Confidence (points) 74.00 72 81 90 85 80
Manufacturing PMI (points) 48.20 48 49 52 51 50
Industrial Production (%) 0.80 2.6 2.6 4.2 3.5 2.5
Industrial Production Mom (%) -1.80 2.5 0.8 1 1.5 1.5
Manufacturing Production (%) 0.80 -2 3 3.5 4 2.5
Capacity Utilization (points) 105.30 106 105 105 106 109
Bankruptcies (Companies) 20.00 15 10 8 10 25
Car Registrations 118695.00 130500 134000 120500 112000 140000
Leading Economic Index (points) 129.90 129 129 129 129 130
Electricity Production (Gigawatt-hour) 24520.43 25300 25300 25300 25300 25300
Coincident Index (points) 123.40 119 119 119 119 120
Car Production 284704.00 350000 340000 380000 300000 380000
Steel Production (Thousand Tonnes) 5100.00 5600 5900 5900 6100 6000

Consumer Actual Q4 Q1 Q2 Q3 2023
Consumer Confidence (points) 86.50 86 85 90 95 105
Retail Sales MoM (%) -1.80 0.3 0.3 -0.6 1 0.9
Retail Sales YoY (%) -0.70 2.5 2 2 3 5
Consumer Spending (KRW Billion) 234667.40 230227 228566 235971 239361 236443
Disposable Personal Income (KRW Billion) 2078537.30 2132579 2128422 2128422 2120108 2190159
Personal Savings (%) 34.20 34.3 33.8 33.6 33.7 33.5
Consumer Credit (KRW Billion) 1870613.80 1910479 1904050 1914222 1908026 1962062
Bank Lending Rate (%) 4.71 4.96 5.21 5.21 5.21 5.21
Gasoline Prices (USD/Liter) 1.22 1.29 1.34 1.4 1.45 1.56
Households Debt to GDP (% of GDP) 105.40 105 105 104 104 100

Housing Actual Q4 Q1 Q2 Q3 2023
Housing Index (points) 100.00 100 99.8 99 98 96
Construction Orders (KRW Million) 8373286.00 12000000 6500000 7900000 6500000 10000000
Construction Output (%) 3.90 1.5 3 2 3 3.2
Home Ownership Rate (%) 56.10 58.5 58.5 58.5 58.5 58.5