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.
- GDP USD 1.8 T (2021) 10th
- Trade Volume USD 1259.5 B (2021) 8th
- Trade Balance USD 29.3 B (2021) 18th
- Sovereign Credit Rating (2022) AA, Stable
- Foreign Exchange Reserves USD 438.6 B (2022.7) 9th
* Source: International Monetary Fund (IMF), Korea International Trade Association (KITA), Bank of Korea (BOK), Korea Exchange, Brand Finance, Korean Statistical Information Service (KOSIS)