Solid Economic Fundamentals

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Solid Economic Fundamentals

Sound & Robust Economy

Korea is the world’s 10th largest economy, with a value of approximately USD 1.8 trillion. Also, Korea’s economic fundamentals are solid, with its trade volume ranking 8th as of 2021, and with the 9th largest foreign exchange reserves in the world as of June 2022.

The country’s stable economy continues to support business management and growth. According to the International Monetary Fund (IMF), Korea’s economic growth rate is forecast at 2.3% in 2022.

* Source: International Monetary Fund (IMF), Korea International Trade Association (KITA), Bank of Korea (BOK), Korea Exchange, Brand Finance, Korean Statistical Information Service (KOSIS)

Major Economic Indicators

Population, Health & Welfare

인구·보건·복지 Institution,statistical information,last,reference,previous,frequency,chart
Statistics	Current	Year	Unit
Projected Population	51,558,034	2023	person
Ratio of Aged Population (65 or older)	18.4	2023	%
Total Fertility Rate	0.78	2022	%
Number of Medical Institutions	100,396	2022.04	agency
In-patient Care Beds per 1,000 People	14	2021	bed
Number of Registered Foreigners	1,093,891	2021	person

Interest Rate & Securities

금리·증권 Institution,statistical information,last,reference,previous,frequency,chart
Statistics	Current	Year	Unit
Key Interest Rate	3.5	2023.05	Year (%)
Corporate Bond Yield (3yr, AA-)	4.16	2022	Year (%)
Deposit Interest Rate	3.43	2023.04	Year (%)
Loan Interest Rate	5.01	2023.04	Year (%)
KOSPI	2,641.16	2023.06.09	1980.01.04=100
KOSDAQ Index	883.71	2023.06.09	1996.07.01=1000

Labor & Household

노동·가계 Institution,statistical information,last,reference,previous,frequency,chart
Statistics	Current	Year	Unit
Average Monthly Wage of Workers	2,184.4	2022.08	USD
Total Working Hours	166.1	2023.03	hour
Household Debts	71,049.203	2022	USD
Unemployment Rate	2.8	2023.04	%
Employment Rate	62.7	2023.04	%
Economically Active Population	29,236.4	2023.04	1,000 persons

Economy, Corporate, Wage & Price

경기·기업·임금·물가 Institution,statistical information,last,reference,previous,frequency,chart
Statistics	Current	Year	Unit	Graph/Chart/ Table
Consumer Price Index	3.3	2023.05	%

Transportation & Science

건설·교통·과학 Institution,statistical information,last,reference,previous,frequency,chart
Statistics	Current	Year	Unit	Graph/Chart/ Table
Internet Usage Rate	93	2021	%
Number of Vehicles Registered	1,902,880	2022	car

Manufacturing & Service

농림·제조·서비스 Institution,statistical information,last,reference,previous,frequency,chart
Statistics	Current	Year	Unit
Online Shopping Mall Transaction Amount	13,552.607	2023.04	USD 1 mil.
Manufacturing Production Index (YoY)	-8	2022.12	%
Retail Sales Index (YoY)	-2.5	2022.12	%

Exchange Rate

국민계정·재정·무역 Institution,statistical information,last,reference,previous,frequency,chart
Statistics	Current	Year	Unit	Graph/Chart/ Table
KRW to USD Exchange Rate (as of transaction date)	1,300.5	2023.06.08	KRW

Environment & Energy

환경·에너지 Institution,statistical information,last,reference,previous,frequency,chart
Statistics	Current	Year	Unit	Graph/Chart/ Table
Total GHG Emissions	656.223	2020	백만t CO₂eq.

International Balance of Payments & Foreign Transactions

국제수지·대외거래 Institution,statistical information,last,reference,previous,frequency,chart
Statistics	Current	Year	Unit	Graph/Chart/ Table
Current Account	29,830.9	2022	USD 1 mil.

Industrial Activities, Consumption & Investment

산업활동·소비·투자 Institution,statistical information,last,reference,previous,frequency,chart
Statistics	Current	Year	Unit
Index of All Industries Production (excl. agriculture, forestry and fishery)	110.1	2022	2020=100
Service Production Index	112	2022	2020=100
Wholesale and Retail Industry Index	107.1	2022	2020=100
Equipment Investment Index	119.6	2023.04	2015=100

* Source: Bank of Korea (BOK), Korean Statistical Information Service (KOSIS)

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