Markets Actual Q3 Q4 Q1 Q2 2020
Currency 1173.07 1162 1169 1175 1182 1195
Stock Market (points) 2066.55 2107 2083 2059 2036 1990
Government Bond 10Y (%) 1.47 1.62 1.65 1.67 1.7 1.75
Overview Actual Q3 Q4 Q1 Q2 2020
GDP Growth Rate (%) -0.40 1 1.1 1.2 0.9 1
GDP Annual Growth Rate (%) 1.70 2.4 2.3 2 1.9 1.8
Unemployment Rate (%) 4.00 3.8 3.7 3.8 3.9 3.7
Inflation Rate (%) 0.70 1.3 1.5 1.4 1.3 1.4
Inflation Rate Mom (%) -0.20 0.4 0.3 0.3 0.3 0.2
Interest Rate (%) 1.50 1.5 1.5 1.75 1.75 1.75
Balance of Trade (USD Million) 4168.00 8500 3900 4500 4500 5800
Current Account (USD Million) 4949.40 7900 3200 4500 6900 4500
Current Account to GDP (%) 4.70 4.2 4.2 3.8 3.8 3.8
Government Debt to GDP (%) 36.60 39 39 40 40 40
Government Budget (% of GDP) -1.60 -2.7 -2.7 -3.2 -3.2 -3.2
Business Confidence (Index Points) 75.00 75 75 76 77 74
Manufacturing PMI 47.50 50.1 49.4 50.2 49.8 48.7
Consumer Confidence (Index Points) 97.50 102 102 105 103 103
Retail Sales MoM (%) 0.90 0.4 0.7 0.5 0.6 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 Q3 Q4 Q1 Q2 2020
GDP Growth Rate (%) -0.40 1 1.1 1.2 0.9 1
GDP Annual Growth Rate (%) 1.70 2.4 2.3 2 1.9 1.8
GDP (USD Billion) 1619.42 1690 1690 1780 1780 1780
GDP Constant Prices (KRW Billion) 455081.00 463423 467275 464183 463728 475686
Gross National Product (KRW Billion) 435887.50 421915 436532 444605 444169 444390
Gross Fixed Capital Formation (KRW Billion) 131296.60 135722 138183 133923 133791 140670
GDP per capita (USD) 26761.90 26800 26800 26800 27200 27200
GDP per capita PPP (USD) 36776.50 37400 37400 38201 38201 38201
GDP From Agriculture (KRW Billion) 8482.70 8073 8292 8652 8644 8441
GDP From Construction (KRW Billion) 21855.30 22423 22576 22292 22271 22983
GDP From Manufacturing (KRW Billion) 119813.10 124847 126703 122209 122090 128983
GDP From Mining (KRW Billion) 523.30 480 547 534 533 557
GDP From Public Administration (KRW Billion) 26575.90 26761 26901 27107 27081 27386
GDP From Services (KRW Billion) 215013.70 216816 217919 219314 219099 221842
GDP From Transport (KRW Billion) 15230.20 15992 16133 15535 15520 16423
GDP From Utilities (KRW Billion) 11601.30 11598 11874 11833 11822 12087
Labour Actual Q3 Q4 Q1 Q2 2020
Unemployment Rate (%) 4.00 3.8 3.7 3.8 3.9 3.7
Unemployed Persons (Thousand ) 1127.00 1060 1080 1080 1100 1110
Labor Force Participation Rate (%) 64.20 63.5 62.5 63.4 64 63
Labour Costs (Index Points) 103.10 138 140 140 140 142
Wages (KRW/Month) 4021244.00 4075000 4041000 4362000 4027000 4236000
Wages in Manufacturing (KRW/Month) 4654149.00 4349000 4347000 5032000 4244000 4542000
Minimum Wages (KRW/Hour) 8350.00 8350 8350 10000 10000 10000
Population (Million) 51.61 51.7 51.71 51.85 51.85 51.85
Retirement Age Women 60.00 60 60 60 60 60
Retirement Age Men 60.00 60 60 60 60 60
Youth Unemployment Rate (%) 10.50 8.7 8.5 10.6 8.9 8.4
Employment Rate (%) 61.50 61.1 61.4 61.4 61.4 61.5
Prices Actual Q3 Q4 Q1 Q2 2020
Inflation Rate (%) 0.70 1.3 1.5 1.4 1.3 1.4
Inflation Rate Mom (%) -0.20 0.4 0.3 0.3 0.3 0.2
Consumer Price Index CPI (Index Points) 104.88 107 106 106 106 107
Core Consumer Prices (Index Points) 105.41 106 106 107 107 109
Core Inflation Rate (%) 0.70 1.7 1.5 1.8 1.6 2.2
Producer Prices (Index Points) 103.73 105 105 105 105 107
Producer Prices Change (%) 0.40 -0.6 0.8 1.3 1.5 1.9
Food Inflation (%) 2.00 1.6 2.5 2.6 1.8 2.9
Cpi Housing Utilities (Index Points) 102.90 103 104 104 104 105
CPI Transportation (Index Points) 103.31 106 103 101 105 104
Money Actual Q3 Q4 Q1 Q2 2020
Interest Rate (%) 1.50 1.5 1.5 1.75 1.75 1.75
Interbank Rate (%) 1.66 1.66 1.66 1.91 1.91 1.91
Money Supply M2 (KRW Billion) 2778412.60 2820000 2890000 2890000 2890000 3130000
Foreign Exchange Reserves (USD Million) 403070.00 402500 402400 402400 401500 402700
Loans to Private Sector (KRW Hundred Million) 8518578.00 8411802 8430447 8539503 8680431 8582195
Deposit Interest Rate (%) 1.99 1.99 1.99 2.24 2.24 2.24
Private Debt To GDP (%) 260.80 263 263 261 261 261
Central Bank Balance Sheet (KRW Billion) 491716.00 491000 493500 493500 491500 498600
Foreign Stock Investment (USD Hundreds of Millions) 697567.10 750000 680780 710080 740000 690000
Trade Actual Q3 Q4 Q1 Q2 2020
Balance of Trade (USD Million) 4168.00 8500 3900 4500 4500 5800
Current Account (USD Million) 4949.40 7900 3200 4500 6900 4500
Current Account to GDP (%) 4.70 4.2 4.2 3.8 3.8 3.8
Imports (USD Million) 40010.00 42750 44900 44500 43800 45000
Exports (USD Million) 44180.00 51200 48800 49000 50900 50800
External Debt (USD Million) 440584.60 452292 450732 449396 448956 458845
Foreign Direct Investment (USD Thousand ) 6704915.00 4179000 4057000 3500000 6500000 9040000
Tourism Revenues (USD Million) 1645900.00 1375000 1310000 1505000 1555000 1420000
Tourist Arrivals 1485684.00 1312000 1350000 1490000 1290000 1380000
Government Actual Q3 Q4 Q1 Q2 2020
Government Debt to GDP (%) 36.60 39 39 40 40 40
Government Budget (% of GDP) -1.60 -2.7 -2.7 -3.2 -3.2 -3.2
Government Spending (KRW Billion) 74118.60 73552 75557 75601 75527 76917
Government Spending To GDP (%) 32.26 33.4 33.4 33.7 33.7 33.7
Taxes Actual Q3 Q4 Q1 Q2 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 Q3 Q4 Q1 Q2 2020
Business Confidence (Index Points) 75.00 75 75 76 77 74
Manufacturing PMI 47.50 50.1 49.4 50.2 49.8 48.7
Industrial Production (%) -0.20 -1.3 3.8 2.2 -0.5 2.5
Industrial Production Mom (%) -1.70 2.2 2.3 -0.5 -0.8 1.7
Manufacturing Production (%) -0.10 0.5 0.9 0.9 -0.5 1.1
Changes in Inventories (KRW Billion) 6511.70 2300 1200 1200 1200 3030
Car Registrations 128434.00 109200 117000 121000 129000 115000
Leading Economic Index (Index Points) 114.40 115 114 115 116 116
Steel Production (Thousand Tonnes) 6370.58 6130 6300 6300 6300 6410
Mining Production (%) -5.90 -2.8 1.2 1.2 -1.5 4.7
Coincident Index (Index Points) 110.40 110 110 111 111 111
Car Production 4028834.00 4150000 4150000 4250000 4250000 4250000
Electricity Production (Gigawatt-hour) 23193.02 23600 24800 23850 23500 25100
Consumer Actual Q3 Q4 Q1 Q2 2020
Consumer Confidence (Index Points) 97.50 102 102 105 103 103
Retail Sales MoM (%) 0.90 0.4 0.7 0.5 0.6 0.9
Retail Sales YoY (%) 3.40 2.9 2.8 3.2 3.5 5
Consumer Spending (KRW Billion) 220417.20 223596 225167 224826 224605 229220
Disposable Personal Income (KRW Billion) 1770713.90 1763833 1811440 1806128 1804357 1844046
Consumer Credit (KRW Billion) 1540043.80 1550224 1572057 1570845 1569305 1600354
Bank Lending Rate (%) 3.62 3.62 3.62 3.87 3.87 3.87
Households Debt To GDP (% of GDP) 97.70 96.4 96.8 96.8 96.8 96.9
Gasoline Prices (USD/Liter) 1.30 1.33 1.3 1.26 1.23 1.23
Housing Actual Q3 Q4 Q1 Q2 2020
Housing Index (Index points) 99.50 103 102 100 104 104
Home Ownership Rate (%) 57.70 57.1 57.1 55.8 55.8 55.8
Construction Orders (KRW Million) 4077452.00 5220000 7610000 7610000 7610000 8890000
Construction Output (%) -5.30 2.5 2.5 3 2.9 5.9


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.