Key Indicators for Asia and the Pacific 2021 1

Korea, Republic of
Item 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

POPULATION
Total population as of 1 July (million) 47.0 47.4 47.6 47.9 48.1 48.2 48.4 48.7 49.1 49.3 49.6 49.9 50.2 50.4 50.7 51.0 51.2 51.4 51.6 51.7 51.8
Population density (persons/km2) 473 476 478 481 483 484 486 488 491 494 495 499 501 503 506 509 510 512 514 515 516
Population (% annual change) 0.8 0.8 0.6 0.5 0.4 0.2 0.5 0.5 0.8 0.5 0.5 0.8 0.5 0.5 0.6 0.5 0.4 0.3 0.5 0.2 0.1
Urban population (% of total population) 79.6 79.9 80.3 80.7 81.0 81.3 81.5 81.6 81.7 81.8 81.9 81.9 81.9 81.8 81.7 81.6 81.6 81.5 81.5 81.4 81.4

LABOR FORCE calendar year (‘000) 22,151 22,511 22,982 23,043 23,544 23,718 24,024 24,351 24,551 24,582 24,956 25,389 25,781 26,108 26,836 27,153 27,418 27,748 27,895 28,186 28,012
Employed 21,173 21,614 22,232 22,222 22,682 22,831 23,188 23,561 23,775 23,688 24,033 24,527 24,955 25,299 25,897 26,178 26,409 26,725 26,822 27,123 26,904
Agriculture, forestry, and fishing 2,266 2,193 2,107 1,976 1,905 1,817 1,774 1,720 1,698 1,660 1,586 1,563 1,531 1,513 1,446 1,337 1,273 1,279 1,340 1,395 1,445
Mining and quarrying 17 18 18 18 16 17 17 17 23 23 21 17 15 16 13 14 19 23 19 15 13
Manufacturing 4,297 4,275 4,258 4,215 4,192 4,129 4,071 4,047 4,008 3,876 4,078 4,156 4,171 4,307 4,459 4,604 4,584 4,566 4,510 4,429 4,376
Electricity, gas, steam, and air-conditioning supply; water supply;
sewerage, waste management, and remediation activities 122 127 139 148 158 169 145 150 152 168 174 184 189 187 197 203 227
Construction 1,830 1,814 1,838 1,864 1,828 1,735 1,768 1,772 1,797 1,780 1,829 1,854 1,869 1,988 2,034 2,020 2,016
Wholesale and retail trade; repair of motor vehicles and motorcycles 3,804 3,741 3,716 3,692 3,664 3,628 3,608 3,680 3,729 3,694 3,834 3,816 3,754 3,795 3,723 3,663 3,503
Transportation and storage 1,135 1,158 1,190 1,249 1,256 1,253 1,288 1,346 1,394 1,428 1,429 1,429 1,426 1,405 1,407 2,303 1,482
Accommodation and food service activities 2,061 2,053 2,049 2,052 2,056 1,951 1,903 1,874 1,927 1,985 2,118 2,195 2,291 2,288 2,243 1,431 2,144
Information and communication 609 640 659 645 636 658 670 706 707 697 718 774 784 783 837 861 847
Financial and insurance activities 741 748 793 816 833 777 820 859 856 878 852 799 803 794 840 800 778
Real estate activities 451 492 495 502 489 501 517 488 489 437 454 462 483 540 528 556 517
Others 14,593 15,128 15,849 16,013 5,817 6,097 6,449 6,810 7,125 7,457 7,627 7,915 8,190 8,399 8,572 8,711 8,936 9,079 9,145 9,449 9,557
Underemployeda ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 504 512 571 629 750 1,088
Unemployed 978 898 751 821 862 887 836 790 776 894 924 863 826 808 939 976 1,009 1,023 1,073 1,063 1,108
Unemployment rate (%) 4.4 4.0 3.3 3.6 3.7 3.7 3.5 3.2 3.2 3.6 3.7 3.4 3.2 3.1 3.5 3.6 3.7 3.7 3.8 3.8 4.0
Labor force (% annual change) ... 1.6 2.1 0.3 2.2 0.7 1.3 1.4 0.8 0.1 1.5 1.7 1.5 1.3 2.8 1.2 1.0 1.2 0.5 1.0 -0.6
Labor force participation rate (%) 61.2 61.5 62.1 61.6 62.3 62.2 62.2 62.2 61.7 61.0 61.1 61.3 61.6 61.7 62.7 62.8 62.9 63.2 63.1 63.3 62.5
Male 74.4 74.4 75.1 74.9 75.2 74.8 74.5 74.4 73.8 73.2 73.2 73.4 73.5 73.5 74.4 74.1 74.0 74.1 73.7 73.5 72.6
Female 48.8 49.4 49.9 49.1 50.1 50.3 50.5 50.5 50.2 49.3 49.6 49.8 50.1 50.3 51.5 51.9 52.2 52.7 52.9 53.5 52.8

NATIONAL ACCOUNTSb calendar year (W billion)

At Current Prices
GDP by industrial origin at current market prices 651,634 707,021 784,741 837,365 908,439 957,448 1,005,602 1,089,660 1,154,217 1,205,348 1,322,611 1,388,937 1,440,111 1,500,819 1,562,929 1,658,020 1,740,780 1,835,698 1,898,193 1,924,498 1,933,152
Agriculture, forestry, and fishing 25,139 25,211 25,165 24,825 26,872 25,085 25,115 24,881 24,726 27,007 28,357 30,684 31,484 31,503 32,144 33,225 32,362 33,974 33,150 32,099 35,421
Mining and quarrying 1,602 1,600 1,675 1,633 1,680 1,854 1,786 1,823 2,009 2,005 1,947 1,956 1,912 2,102 2,089 2,145 2,368 2,349 2,128 2,009 1,945
Manufacturing 172,347 175,900 192,149 202,006 237,270 246,420 254,471 277,678 295,735 310,677 362,908 392,191 400,810 417,015 422,654 441,134 458,831 494,645 505,650 485,401 479,629
Electricity, gas, steam, and air-conditioning supply 13,607 14,676 16,225 17,281 16,834 17,066 17,668 18,258 11,194 15,523 19,460 17,026 18,411 21,484 27,287 32,384 34,003 29,477 23,601 24,468 29,795
Water supply; sewerage, waste management, and remediation activities 3,194 3,482 3,759 4,102 4,526 4,810 5,077 5,371 5,738 6,238 6,247 6,631 7,368 7,873 8,460 9,377 10,305 10,537 11,553 12,177 13,324
Construction 35,728 39,221 43,687 52,240 55,235 56,821 58,048 61,402 60,563 62,181 60,669 60,698 63,077 68,525 72,339 81,174 91,543 101,197 103,323 104,855 105,180
Wholesale and retail trade; repair of motor vehicles and motorcycles 56,582 59,348 62,982 64,452 68,367 71,810 75,821 81,392 88,559 92,328 103,542 111,989 117,518 121,181 119,139 123,433 128,897 133,713 136,415 137,689 133,342
Transportation and storage 25,841 27,251 29,568 32,461 36,636 37,340 37,841 42,590 45,778 41,866 45,781 42,691 44,129 47,335 51,326 58,500 58,803 58,284 57,926 60,689 56,078
Accommodation and food service activities 16,724 18,737 20,955 21,409 21,596 21,753 23,176 24,866 26,747 27,803 28,705 29,324 30,553 31,698 33,450 36,912 40,344 41,412 44,009 46,915 38,904
Information and communication 27,763 33,126 38,764 40,786 42,275 46,364 48,351 50,004 51,062 53,637 55,334 57,037 60,214 63,368 66,375 69,789 74,470 76,712 79,536 83,041 87,500
Financial and insurance activities 32,327 38,209 49,449 50,622 50,634 55,218 58,043 65,868 69,260 70,528 77,692 83,539 81,294 79,411 84,176 88,258 89,594 96,984 104,190 104,252 110,441
Real estate activities 51,626 56,044 59,425 63,964 67,603 71,236 75,597 81,024 86,153 91,109 93,974 97,963 103,066 108,223 115,914 122,198 128,539 133,153 138,193 141,409 145,464
Professional, scientific, and technical activities 21,025 24,150 28,154 31,824 36,067 39,203 44,086 49,494 56,069 59,561 65,665 70,367 75,479 81,098 86,838 93,215 96,106 100,263 106,990 113,818 119,676
Administrative and support service activities 12,831 12,928 14,423 16,904 18,733 20,635 22,542 25,311 28,280 28,075 32,852 35,167 37,574 40,962 44,361 48,704 51,112 54,233 58,555 61,566 59,801
Public administration and defense; compulsory social security 32,519 35,728 39,494 43,486 47,725 52,221 55,129 58,957 64,951 69,371 72,064 76,369 81,487 86,132 90,617 95,491 100,787 107,326 114,863 121,818 128,647
2 Key Indicators for Asia and the Pacific 2021

Korea, Republic of
Item 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Education 29,014 32,984 36,984 41,443 45,828 49,062 53,708 58,340 64,287 66,770 68,692 71,484 73,365 76,522 79,125 82,134 84,528 87,880 90,677 94,401 92,681
Human health and social work activities 13,956 18,764 19,812 21,949 24,288 27,106 30,060 34,223 37,100 42,385 45,555 47,989 51,610 54,730 59,059 63,337 68,705 74,707 81,128 89,511 93,246
Arts, entertainment, and recreation
Other service activities 16,156 18,047 20,667 21,802 22,603 23,916 25,704 28,101 30,278 31,546 33,591 35,132 36,827 37,995 39,312 39,499 41,787 42,175 44,655 46,516 38,462
Gross value added at basic prices 587,980 635,405 703,338 753,186 824,770 867,919 912,221 989,584 1,048,487 1,098,608 1,203,036 1,268,239 1,316,177 1,377,159 1,434,665 1,520,908 1,593,083 1,679,019 1,736,541 1,762,633 1,769,534
Taxes less subsidies on products 63,655 71,616 81,403 84,179 83,669 89,529 93,381 100,076 105,730 106,740 119,575 120,698 123,935 123,660 128,264 137,113 147,697 156,680 161,652 161,865 163,619
Net factor income from abroad -4,360 -4,785 -2,913 -2,922 -1,575 -6,762 -2,937 -2,763 293 -1,868 1,976 8,598 15,059 9,566 7,564 5,186 6,364 7,483 7,645 16,610 14,868
GNI 647,274 702,236 781,829 834,443 906,865 950,685 1,002,665 1,086,897 1,154,510 1,203,480 1,324,587 1,397,535 1,455,170 1,510,385 1,570,493 1,663,207 1,747,144 1,843,181 1,905,838 1,941,108 1,948,021

Structure of Output (% of GDP at current basic prices)

Agriculture 4.3 4.0 3.6 3.3 3.3 2.9 2.8 2.5 2.4 2.5 2.4 2.4 2.4 2.3 2.2 2.2 2.0 2.0 1.9 1.8 2.0
Industry 38.5 36.9 36.6 36.8 38.2 37.7 36.9 36.9 35.7 36.1 37.5 37.7 37.3 37.5 37.2 37.2 37.5 38.0 37.2 35.7 35.6
Services 57.2 59.1 59.8 59.9 58.5 59.4 60.3 60.6 61.9 61.4 60.1 59.9 60.3 60.2 60.6 60.6 60.5 60.0 60.9 62.5 62.4

Expenditure on GDP at current market prices 651,634 707,021 784,741 837,365 908,439 957,448 1,005,602 1,089,660 1,154,217 1,205,348 1,322,611 1,388,937 1,440,111 1,500,819 1,562,929 1,658,020 1,740,780 1,835,698 1,898,193 1,924,498 1,933,152
Final consumption expenditure 426,170 474,802 532,348 554,493 581,232 624,060 667,733 718,291 768,507 799,520 854,936 910,746 949,805 982,776 1,018,422 1,054,900 1,100,100 1,155,837 1,216,269 1,264,597 1,246,572
Household final consumption 347,316 382,961 430,309 441,850 456,886 488,042 519,431 556,349 589,654 605,170 649,706 691,781 716,113 732,358 754,025 777,068 803,432 840,678 877,428 901,236 863,121
NPISHs final consumption 7,825 8,731 9,898 10,887 11,815 12,869 13,847 15,461 16,702 17,638 17,355 19,338 22,199 25,648 26,437 27,744 31,373 32,114 34,148 34,697 34,328
Government final consumption 71,028 83,111 92,142 101,757 112,531 123,149 134,455 146,482 162,151 176,712 187,875 199,627 211,493 224,771 237,959 250,088 265,295 283,046 304,693 328,663 349,123
Gross capital formation 214,346 223,440 243,998 270,298 295,693 311,249 331,781 360,650 388,588 354,372 430,538 462,786 450,995 448,525 465,604 489,602 524,718 592,711 597,687 606,119 615,922
Gross fixed capital formation 206,895 217,426 238,401 261,797 281,906 291,800 306,642 328,572 357,760 372,056 399,786 418,825 425,614 436,628 452,590 481,002 517,350 578,457 576,587 579,002 601,465
Public 34,627 38,198 39,698 47,055 50,763 50,928 50,979 54,093 60,736 78,057 69,268 69,213 68,956 71,677 67,739 71,849 77,122 81,236 85,495 97,972 101,012
Private 172,268 179,228 198,703 214,742 231,143 240,872 255,664 274,479 297,023 293,999 330,518 349,612 356,658 364,951 384,851 409,153 440,228 497,221 491,093 481,030 500,454
Changes in inventories 7,451 6,013 5,598 8,502 13,787 19,449 25,139 32,079 30,829 -17,684 30,752 43,961 25,381 11,897 13,014 8,600 7,368 14,255 21,100 27,117 14,457
Acquisitions less disposals of valuables
Exports of goods and services 221,159 224,746 233,639 262,915 333,891 337,817 358,260 407,448 549,891 544,641 622,999 740,828 779,015 769,801 747,571 712,776 698,621 751,429 791,799 755,863 704,554
Exports of goods 187,292 190,326 201,416 229,207 288,474 293,913 314,115 353,029 471,795 475,340 545,803 661,539 689,443 682,500 653,839 620,257 605,601 664,860 695,186 649,295 610,058
Exports of services 33,867 34,420 32,223 33,707 45,417 43,904 44,145 54,419 78,095 69,301 77,197 79,288 89,572 87,301 93,732 92,519 93,020 86,568 96,613 106,568 94,496
Less: Imports of goods and services 209,540 215,189 224,281 249,340 302,159 316,357 352,217 397,534 552,575 493,569 585,862 725,422 739,703 700,283 668,668 599,257 582,659 664,279 707,562 702,082 633,488
Imports of goods 174,260 176,845 182,695 205,604 247,709 258,353 290,071 323,989 454,190 396,838 480,860 619,419 625,568 588,883 554,973 478,471 458,001 526,817 567,852 555,615 513,252
Imports of services 35,280 38,345 41,586 43,736 54,451 58,004 62,145 73,544 98,385 96,731 105,002 106,003 114,135 111,400 113,695 120,786 124,658 137,462 139,710 146,467 120,235
Statistical discrepancy -501 -777 -963 -1,001 -217 679 44 805 -194 384 – – – – – – – – – – -408

Structure of Demand (% of GDP at current market prices)

Household final consumption 53.3 54.2 54.8 52.8 50.3 51.0 51.7 51.1 51.1 50.2 49.1 49.8 49.7 48.8 48.2 46.9 46.2 45.8 46.2 46.8 44.6
Government final consumption 10.9 11.8 11.7 12.2 12.4 12.9 13.4 13.4 14.0 14.7 14.2 14.4 14.7 15.0 15.2 15.1 15.2 15.4 16.1 17.1 18.1
Gross capital formation 32.9 31.6 31.1 32.3 32.5 32.5 33.0 33.1 33.7 29.4 32.6 33.3 31.3 29.9 29.8 29.5 30.1 32.3 31.5 31.5 31.9
Changes in inventories 1.1 0.9 0.7 1.0 1.5 2.0 2.5 2.9 2.7 -1.5 2.3 3.2 1.8 0.8 0.8 0.5 0.4 0.8 1.1 1.4 0.7
Exports of goods and services 33.9 31.8 29.8 31.4 36.8 35.3 35.6 37.4 47.6 45.2 47.1 53.3 54.1 51.3 47.8 43.0 40.1 40.9 41.7 39.3 36.4
Imports of goods and services 32.2 30.4 28.6 29.8 33.3 33.0 35.0 36.5 47.9 40.9 44.3 52.2 51.4 46.7 42.8 36.1 33.5 36.2 37.3 36.5 32.8
Statistical discrepancy -0.1 -0.1 -0.1 -0.1 -0.0 0.1 0.0 0.1 -0.0 0.0 – – – – – – – – – – -0.0

At Chained Prices
GDP by industrial origin at 2015 market prices 903,551 947,395 1,020,582 1,052,703 1,107,416 1,155,130 1,215,940 1,286,459 1,325,219 1,335,724 1,426,618 1,479,198 1,514,737 1,562,674 1,612,718 1,658,020 1,706,880 1,760,812 1,812,005 1,852,666 1,836,881
Agriculture, forestry, and fishing 27,070 27,180 26,360 24,738 26,642 26,794 27,414 28,783 30,636 32,056 30,888 30,571 30,420 31,697 33,307 33,225 31,353 32,060 32,109 33,373 32,054
Mining and quarrying 3,370 3,407 3,393 3,470 3,333 3,256 3,219 3,031 3,028 2,952 2,661 2,346 2,260 2,356 2,363 2,145 2,296 2,205 2,042 1,916 1,912
Manufacturing 207,466 213,365 233,593 245,340 270,703 285,096 307,506 332,669 344,459 336,416 382,243 402,282 407,960 420,493 433,854 441,134 451,294 468,070 483,530 488,935 484,649
 Key Indicators for Asia and the Pacific 2021 3

Korea, Republic of
Item 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Electricity, gas, steam, and air-conditioning supply 19,979 21,592 23,558 24,128 25,838 28,078 28,664 29,884 30,778 31,441 32,816 32,267 32,095 30,397 31,288 32,384 32,047 35,119 34,203 36,351 38,133
Water supply; sewerage, waste management, and remediation activities 4,702 4,725 4,980 5,327 5,678 5,789 6,031 6,308 6,566 7,131 7,384 7,734 8,318 8,705 9,089 9,377 9,216 8,831 8,857 8,875 9,121
Construction 64,922 67,899 70,743 76,829 78,338 78,384 78,981 80,858 78,208 79,283 76,144 72,505 72,170 75,294 76,415 81,174 89,140 94,369 91,741 89,366 88,088
Wholesale and retail trade; repair of motor vehicles and motorcycles 78,300 80,238 85,025 82,046 81,961 84,500 87,845 92,574 94,189 94,009 101,941 108,056 112,771 118,044 118,923 123,433 126,132 129,378 132,620 137,252 134,621
Transportation and storage 33,787 35,283 36,567 36,873 38,919 40,200 41,923 44,433 46,547 44,473 50,295 52,571 55,626 56,446 57,135 58,500 58,714 60,289 62,522 63,574 53,954
Accommodation and food service activities 29,939 33,124 35,315 34,884 34,831 33,803 34,326 35,673 36,100 35,580 36,163 35,629 35,913 35,575 36,272 36,912 38,573 38,390 39,926 41,358 34,458
Information and communication 27,308 32,528 38,046 40,472 44,167 48,405 50,789 52,461 54,343 56,340 58,443 61,601 64,106 67,895 69,064 69,789 73,517 75,814 79,246 82,894 85,521
Financial and insurance activities 35,656 38,609 47,821 47,551 47,418 50,502 52,811 59,364 63,003 66,637 68,643 70,356 73,997 77,293 82,077 88,258 89,948 93,709 99,000 102,360 111,654
Real estate activities 78,273 82,820 83,671 86,792 89,451 93,606 98,056 100,634 105,026 107,141 109,866 113,402 113,859 115,168 120,196 122,198 126,461 129,307 133,423 135,309 137,650
Professional, scientific, and technical activities 39,027 43,415 48,188 51,019 53,674 55,723 60,793 65,906 69,498 71,380 74,386 77,813 80,317 84,389 88,785 93,215 94,384 94,866 98,050 99,978 102,259
Administrative and support service activities 18,399 17,919 19,533 22,424 23,998 25,658 27,098 29,566 31,527 31,366 36,077 38,968 40,359 43,756 46,414 48,704 50,694 53,097 55,584 57,646 54,513
Public administration and defense; compulsory social security 57,424 59,113 61,358 63,818 66,406 69,115 72,070 74,602 76,677 80,058 82,556 84,904 87,761 90,221 92,972 95,491 98,023 100,723 104,101 108,117 112,396
Education 52,166 55,081 58,504 61,515 63,728 65,247 68,376 70,852 73,303 74,116 75,424 77,321 78,852 80,729 81,146 82,134 83,161 84,806 86,223 87,582 85,465
Human health and social work activities 27,477 26,271 28,080 29,849 31,704 33,838 36,010 39,110 40,577 43,731 46,645 49,825 53,265 56,505 60,491 63,337 67,975 72,330 78,268 85,932 87,054
Arts, entertainment, and recreation
Other service activities 28,077 30,348 33,734 33,356 33,130 34,185 36,135 38,411 39,369 39,624 41,370 41,212 41,259 41,320 40,890 39,499 40,839 40,496 41,604 42,683 34,705
Gross value added at basic prices 819,508 858,697 927,265 957,728 1,008,287 1,051,713 1,107,876 1,176,059 1,215,778 1,226,048 1,308,667 1,356,276 1,389,384 1,436,068 1,480,547 1,520,908 1,563,765 1,613,713 1,663,057 1,702,671 1,686,896
Taxes less subsidies on products 83,240 87,821 92,579 94,390 98,606 102,870 107,530 110,038 109,390 109,693 117,904 122,815 125,268 126,634 132,173 137,113 143,115 147,105 149,012 150,146 150,084
Net factor income from abroad -6,489 -6,743 -3,996 -3,836 -2,047 -8,448 -3,688 -3,427 111 -2,013 2,002 8,815 15,346 9,701 7,626 5,186 6,177 7,085 7,106 15,242 13,772
GNIc 926,961 963,701 1,046,880 1,074,837 1,121,037 1,148,216 1,193,968 1,261,872 1,266,674 1,298,061 1,391,621 1,414,273 1,455,657 1,511,626 1,564,407 1,663,207 1,736,627 1,793,818 1,822,153 1,828,547 1,824,243

Growth of Output (% annual change)

GDP 9.1 4.9 7.7 3.1 5.2 4.3 5.3 5.8 3.0 0.8 6.8 3.7 2.4 3.2 3.2 2.8 2.9 3.2 2.9 2.2 -0.9
Agriculture 0.3 0.4 -3.0 -6.2 7.7 0.6 2.3 5.0 6.4 4.6 -3.6 -1.0 -0.5 4.2 5.1 -0.2 -5.6 2.3 0.2 3.9 -4.0
Industryd ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...
Services 7.6 6.1 8.4 2.5 3.2 4.4 4.9 5.8 3.9 2.0 5.1 3.9 3.4 3.6 3.1 3.1 2.9 2.6 3.8 3.4 -1.0

Expenditure on GDP at 2015 market prices 903,551 947,395 1,020,582 1,052,703 1,107,416 1,155,130 1,215,940 1,286,459 1,325,219 1,335,724 1,426,618 1,479,198 1,514,737 1,562,674 1,612,718 1,658,020 1,706,880 1,760,812 1,812,005 1,852,666 1,836,881
Final consumption expenditure 627,729 664,781 721,628 725,696 734,193 769,351 811,336 856,239 875,717 889,512 930,995 957,649 979,446 1,003,096 1,028,320 1,054,900 1,086,839 1,120,029 1,161,543 1,198,557 1,169,402
Household final consumption 498,971 527,784 575,063 572,160 573,966 600,660 630,397 663,348 673,871 674,862 706,108 726,067 735,825 745,679 760,603 777,068 794,746 817,304 842,551 860,558 815,966
NPISHs final consumption 12,483 13,308 14,615 15,362 15,946 16,722 17,361 18,648 19,198 19,721 18,973 20,390 22,991 26,334 26,805 27,744 30,930 31,287 33,030 33,519 33,123
Government final consumption 115,735 123,200 131,262 137,910 144,259 151,963 163,566 174,245 182,641 194,787 205,739 211,013 220,490 231,036 240,901 250,088 261,162 271,429 285,893 304,190 319,321
Gross capital formation 305,770 311,010 335,632 354,037 368,707 376,880 395,728 415,650 414,563 373,573 437,274 451,364 439,479 443,911 459,679 489,602 520,296 576,997 569,404 558,469 561,440
Gross fixed capital formation 306,030 312,806 336,087 353,958 363,826 369,229 383,896 403,309 400,827 402,485 425,635 431,261 430,686 442,806 456,558 481,002 512,635 562,777 550,387 538,654 552,730
Public 57,698 60,183 60,452 67,703 69,091 68,272 67,709 69,752 70,042 87,289 75,491 71,837 70,036 72,912 68,308 71,849 76,753 78,410 80,475 89,634 92,098
Private 248,752 253,213 275,834 286,822 295,282 301,399 316,427 333,716 330,985 315,968 350,306 359,459 360,669 369,917 388,251 409,153 435,881 484,337 469,848 448,779 460,382
Changes in inventories 10,058 8,346 9,436 7,449 13,828 17,797 26,174 26,877 30,420 -8,059 17,171 32,599 27,990 5,280 6,203 8,600 7,662 13,945 18,509 20,531 14,016
Acquisitions less disposals of valuables
Exports of goods and services 218,958 215,018 242,568 275,508 333,378 359,712 403,039 453,838 488,340 486,109 549,438 634,146 670,885 696,514 711,110 712,776 729,685 747,784 777,515 779,368 765,016
Exports of goods 179,755 176,340 204,111 237,115 286,134 312,573 354,115 397,673 421,694 422,573 480,900 563,734 592,067 615,269 622,145 620,257 632,553 660,435 682,013 674,703 671,442
Exports of services 41,640 41,123 39,716 38,680 47,677 47,382 49,139 56,393 66,394 63,422 68,314 70,116 78,668 81,075 88,973 92,519 97,132 87,352 95,579 104,818 94,214
Imports of goods and services 231,805 223,779 257,103 284,045 318,370 343,052 385,837 429,758 443,781 413,126 485,464 555,914 570,188 579,538 586,859 599,257 630,267 686,089 697,841 684,517 661,725
Imports of goods 189,515 181,229 208,169 232,434 257,404 274,777 309,687 341,412 351,972 326,488 389,454 458,488 468,226 473,929 475,272 478,471 497,193 541,187 552,117 538,270 537,807
Imports of services 41,518 41,947 48,244 50,805 60,148 67,556 75,280 87,852 91,376 86,468 95,308 95,111 100,019 103,973 110,671 120,786 133,074 144,901 145,681 146,444 123,548
Statistical discrepancy -137 -781 -1,330 -1,210 -285 1,913 1,424 1,021 352 135 -132 -818 -269 210 354 – 327 -1,130 -1,325 -1,433 200
4 Key Indicators for Asia and the Pacific 2021

Korea, Republic of
Item 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Growth of Demand (% annual change)

Household final consumption 9.4 5.8 9.0 -0.5 0.3 4.7 5.0 5.2 1.6 0.1 4.6 2.8 1.3 1.3 2.0 2.2 2.3 2.8 3.1 2.1 -5.2
Government final consumption 0.7 6.5 6.5 5.1 4.6 5.3 7.6 6.5 4.8 6.7 5.6 2.6 4.5 4.8 4.3 3.8 4.4 3.9 5.3 6.4 5.0
Gross capital formation 14.4 1.7 7.9 5.5 4.1 2.2 5.0 5.0 -0.3 -9.9 17.1 3.2 -2.6 1.0 3.6 6.5 6.3 10.9 -1.3 -1.9 0.5
Exports of goods and services 17.0 -1.8 12.8 13.6 21.0 7.9 12.0 12.6 7.6 -0.5 13.0 15.4 5.8 3.8 2.1 0.2 2.4 2.5 4.0 0.2 -1.8
Imports of goods and services 22.1 -3.5 14.9 10.5 12.1 7.8 12.5 11.4 3.3 -6.9 17.5 14.5 2.6 1.6 1.3 2.1 5.2 8.9 1.7 -1.9 -3.3

Investment Financing at Current Prices

Gross capital formation 214,346 223,440 243,998 270,298 295,693 311,249 331,781 360,650 388,588 354,372 430,538 462,786 450,995 448,525 465,604 489,602 524,718 592,711 597,687 606,119 615,922
Gross national saving 221,026 226,197 247,544 276,799 322,993 324,214 331,623 366,107 386,166 402,902 464,451 482,737 500,807 524,949 548,691 604,062 641,904 680,905 682,357 670,615 699,348
Gross domestic saving 225,465 232,219 252,393 282,872 327,207 333,387 337,868 371,369 385,710 405,828 467,675 478,191 490,307 518,043 544,507 603,120 640,680 679,861 681,924 659,901 686,581
Net factor income from abroad -4,360 -4,785 -2,913 -2,922 -1,575 -6,762 -2,937 -2,763 293 -1,868 1,976 8,598 15,059 9,566 7,564 5,186 6,364 7,483 7,645 16,610 14,868
Net current transfers from abroad -79 -1,237 -1,937 -3,151 -2,640 -2,412 -3,309 -2,499 163 -1,058 -5,199 -4,052 -4,559 -2,660 -3,380 -4,245 -5,139 -6,439 -7,212 -5,896 -2,101

Savings and Investment (% of GDP at current market prices)

Gross domestic saving 34.6 32.8 32.2 33.8 36.0 34.8 33.6 34.1 33.4 33.7 35.4 34.4 34.0 34.5 34.8 36.4 36.8 37.0 35.9 34.3 35.5
Gross national saving 33.9 32.0 31.5 33.1 35.6 33.9 33.0 33.6 33.5 33.4 35.1 34.8 34.8 35.0 35.1 36.4 36.9 37.1 35.9 34.8 36.2
Gross capital formation 32.9 31.6 31.1 32.3 32.5 32.5 33.0 33.1 33.7 29.4 32.6 33.3 31.3 29.9 29.8 29.5 30.1 32.3 31.5 31.5 31.9

At Current Market Prices (W ‘000)

Per capita GDP 13,862 14,925 16,471 17,484 18,893 19,870 20,760 22,382 23,529 24,445 26,690 27,814 28,688 29,761 30,799 32,501 33,988 35,740 36,782 37,218 37,334
Per capita GNI 13,769 14,824 16,410 17,423 18,861 19,730 20,700 22,326 23,535 24,407 26,730 27,986 28,988 29,951 30,948 32,602 34,112 35,886 36,930 37,539 37,621

PRODUCTION INDEXES period averages

Agriculture; 2014–2016 = 100 97.1 96.8 93.1 90.7 92.1 92.2 92.8 93.5 96.5 98.1 93.7 90.1 94.0 98.4 102.0 99.6 98.4 97.4 99.1 100.5 ...
Mining; 2015 = 100 133.6 133.4 139.0 137.8 133.0 122.6 117.5 112.2 101.0 107.8 100.0 104.5 99.8 106.9 98.5 100.0 103.4 100.2 89.5 85.4 84.1
Manufacturing; 2015 = 100 58.6 60.7 62.4 64.4 67.5 69.8 72.6 76.5 80.5 83.2 89.8 93.9 95.9 97.5 100.3 100.0 102.3 104.7 106.1 106.6 106.3

ENERGY annual values

Crude petroleume (t ‘000)
Production 121,424 118,862 112,446 110,176 116,120 120,900 124,448 125,223 122,976 119,558 122,999 131,296 135,547 131,259 134,942 147,235 153,143 161,963 164,887 163,757 152,638
Exports 40,124 38,646 31,326 27,389 30,851 34,407 37,868 38,261 43,723 43,349 44,774 53,492 57,758 56,237 58,796 62,857 64,362 67,014 70,135 68,492 61,436
Imports 143,870 139,403 133,561 134,236 133,738 133,955 141,526 141,847 142,723 144,532 150,554 158,247 164,930 163,001 164,293 174,752 185,067 187,678 190,986 186,553 174,849
Consumption 97,275 97,420 99,936 99,945 98,555 99,701 100,283 104,138 99,644 101,981 104,050 105,015 108,426 108,101 107,611 117,365 126,677 128,935 127,482 127,699 120,101

Coal (t ‘000)
Production 4,150 3,817 3,318 3,298 3,191 2,832 2,824 2,886 2,773 2,519 2,084 2,084 2,094 1,815 1,748 1,764 1,726 1,485 1,202 1,084 1,019
Exports – – – – – – – – – – – – – – – – – – – – –
Imports 61,638 64,966 68,519 69,958 76,354 73,897 76,001 84,799 96,425 102,982 118,592 129,149 125,534 126,507 131,032 135,084 131,462 148,236 148,720 141,395 123,578
Consumption 66,625 70,823 75,951 79,120 82,115 84,822 87,827 94,128 104,198 108,632 121,860 132,729 128,552 129,117 131,533 131,469 134,105 147,835 151,941 134,441 117,999

Natural gas (m3 million)

Production – – – – 207 506 450 344 230 487 526 441 424 451 313 170 142 316 285 240 171
Exports – – – – – – – – – – – – – – – – – – – – –
Imports 18,501 20,515 22,626 24,665 28,116 28,307 31,216 31,424 35,466 30,202 40,381 43,120 44,384 49,912 46,113 42,205 43,519 48,445 57,107 52,716 49,800
Consumption 18,043 19,782 22,468 23,411 27,061 29,005 29,826 32,314 33,437 31,279 39,602 42,608 46,386 49,086 44,642 39,883 41,859 41,320 46,644 43,183 39,388
 Key Indicators for Asia and the Pacific 2021 5

Korea, Republic of
Item 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Electricity (GWh million)

Production 266,400 285,224 306,474 322,452 342,148 364,639 381,181 403,124 422,355 433,604 474,660 496,893 509,574 517,148 521,971 528,091 540,441 553,530 570,647 563,040 552,165
Exports – – – – – – – – – – – – – – – – – – – – –
Imports – – – – – – – – – – – – – – – – – – – – –
Consumption 239,535 257,731 278,451 293,599 312,096 332,413 348,719 368,605 385,070 394,475 434,160 455,070 466,593 474,848 477,592 483,655 497,039 507,746 526,149 520,499 509,270

Retail prices (W/L)

Gasoline, premiumf 1,249 1,280 1,269 1,295 1,365 1,432 1,492 1,526 1,692 1,601 1,710 1,929 1,986 1,924 1,827 1,510 1,403 1,491 1,581 1,472 1,381
Diesel 613 645 678 772 908 1,080 1,228 1,273 1,614 1,398 1,503 1,746 1,806 1,730 1,637 1,300 1,183 1,283 1,392 1,341 1,190

PRICE INDEXES period averages; 2015 = 100

Consumer (national) 66.6 69.3 71.2 73.7 76.3 78.4 80.2 82.2 86.1 88.5 91.1 94.7 96.8 98.0 99.3 100.0 101.0 102.9 104.5 104.9 105.4
Food and nonalcoholic beverages 54.4 57.2 59.9 62.7 67.8 69.9 70.2 72.0 75.6 81.3 86.5 93.6 97.3 98.1 98.4 100.0 102.3 105.8 108.7 108.8 113.6
Alcoholic beverages, tobacco, and narcotics 46.6 48.9 52.5 54.0 54.6 62.7 62.6 62.8 63.1 63.9 64.1 64.6 65.6 66.7 66.6 100.0 100.7 102.2 102.5 103.1 103.4
Clothing and footwear 65.4 67.3 69.4 71.9 72.1 72.8 74.8 76.8 78.7 82.7 85.1 88.0 92.2 94.9 98.7 100.0 101.8 102.9 104.0 104.2 104.9
Housing, water, electricity, gas, and other fuels 63.7 67.5 69.4 72.3 74.7 76.1 78.3 80.0 83.5 84.4 86.4 90.3 94.5 97.8 100.6 100.0 99.2 100.9 101.6 102.8 103.3
Furnishings, household equipment, and routine household maintenance 74.6 76.0 76.7 78.3 78.9 79.3 79.5 81.6 85.1 88.9 89.2 92.5 95.2 95.4 97.5 100.0 101.6 102.7 105.0 107.2 107.3
Health 73.7 82.1 81.7 83.5 84.7 86.6 88.3 89.8 91.5 93.5 95.2 96.8 97.7 98.1 98.8 100.0 101.0 101.9 101.8 102.3 103.9
Transport 70.9 73.7 74.4 77.4 80.1 84.1 88.0 91.2 99.2 95.7 100.4 107.4 110.9 110.3 108.5 100.0 97.8 101.3 103.7 101.9 100.0
Communication 131.0 126.9 121.2 114.9 113.1 111.1 109.6 107.4 105.9 105.7 104.7 103.0 100.4 100.3 100.2 100.0 100.1 100.4 99.5 97.2 95.2
Recreation and culture 96.1 95.8 96.4 96.8 96.7 96.8 94.5 92.9 94.2 96.4 97.3 98.8 99.0 100.1 100.5 100.0 101.8 101.9 102.4 102.1 101.1
Education 58.8 61.4 64.9 68.7 72.5 75.6 79.2 84.0 88.6 90.8 92.8 94.4 95.8 96.9 98.3 100.0 101.6 102.8 104.2 104.8 102.5
Restaurants and hotels 67.1 68.3 70.6 73.2 75.9 77.7 79.3 80.7 84.6 87.8 89.9 93.7 94.9 96.3 97.7 100.0 102.5 105.0 108.1 110.1 111.2
Miscellaneous goods and services 62.1 64.6 66.7 68.4 69.8 70.8 74.4 78.1 85.2 91.0 94.2 97.2 94.1 94.5 97.4 100.0 103.4 106.3 107.0 108.7 110.8
Consumer (Seoul) 65.4 68.3 70.5 73.2 76.1 78.1 79.7 81.8 85.2 87.7 90.1 93.6 95.9 97.2 98.8 100.0 101.2 103.2 104.6 105.2 105.9
Food and nonalcoholic beverages 54.6 57.3 59.8 62.9 68.6 71.4 71.7 73.4 76.7 82.5 87.1 93.9 97.3 97.6 97.8 100.0 102.1 106.3 108.9 108.3 113.6
Alcoholic beverages, tobacco, and narcotics 47.5 50.0 53.6 55.2 55.6 64.0 64.0 64.2 64.5 65.2 65.5 65.9 66.7 67.8 67.6 100.0 101.0 102.4 102.7 103.5 104.0
Clothing and footwear 65.5 67.3 69.4 71.9 72.3 73.0 74.9 76.9 78.8 82.8 85.2 87.9 92.0 94.6 98.4 100.0 101.8 102.7 103.8 104.4 105.4
Housing, water, electricity, gas, and other fuels 60.6 64.8 67.8 71.1 73.5 74.5 76.4 78.2 81.1 83.1 85.0 88.7 93.0 96.6 99.7 100.0 99.7 101.9 102.6 103.8 104.5
Furnishings, household equipment, and routine household maintenance 75.2 76.5 76.7 78.2 79.5 79.8 80.0 82.1 85.4 89.4 89.3 92.2 96.5 96.5 97.8 100.0 101.6 102.8 106.1 109.1 109.3
Health 73.9 82.5 81.8 83.6 84.5 86.5 88.0 89.9 91.8 93.7 95.1 96.7 97.7 98.3 98.9 100.0 101.0 101.9 102.0 102.6 104.2
Transport 67.8 70.7 71.7 74.8 77.8 81.5 84.8 88.3 95.3 92.4 96.6 102.2 106.7 106.4 105.2 100.0 99.6 102.2 103.9 103.2 101.7
Communication 130.4 126.2 120.5 114.3 112.4 110.3 109.2 107.1 105.6 105.5 104.5 102.8 100.2 100.1 100.1 100.0 100.1 100.4 99.5 97.3 95.2
Recreation and culture 95.0 95.1 96.0 96.6 96.5 96.8 94.7 93.2 94.7 96.7 97.5 99.5 99.6 100.6 100.9 100.0 102.0 102.0 102.4 102.0 100.6
Education 58.2 61.1 64.7 68.7 72.9 76.1 79.7 84.3 88.5 90.3 92.3 94.1 95.2 96.0 97.9 100.0 101.7 103.1 104.6 105.2 103.2
Restaurants and hotels 67.7 68.9 71.0 73.7 76.5 78.0 79.4 80.9 84.1 87.3 90.0 94.0 94.9 96.1 97.3 100.0 102.7 105.3 108.6 111.0 112.0
Miscellaneous goods and services 62.7 64.3 66.6 68.7 69.7 70.9 74.0 77.7 84.4 90.8 94.0 96.8 94.0 94.1 97.7 100.0 103.2 105.7 106.0 107.7 109.7
Producer; 2015 = 100 78.4 78.0 77.8 79.5 84.3 86.1 86.9 88.1 95.6 95.4 99.1 105.7 106.4 104.7 104.2 100.0 98.2 101.6 103.5 103.5 103.0
Implicit GDP deflator; 2015 = 100 72.1 74.6 76.9 79.5 82.0 82.9 82.7 84.7 87.1 90.2 92.7 93.9 95.1 96.0 96.9 100.0 102.0 104.3 104.8 103.9 105.2

Price Indexes (% annual change)

Consumer price index 2.3 4.1 2.8 3.5 3.6 2.8 2.2 2.5 4.7 2.8 2.9 4.0 2.2 1.3 1.3 0.7 1.0 1.9 1.5 0.4 0.5
Food and nonalcoholic beverages price index (national) 0.8 5.1 4.8 4.7 8.1 3.1 0.5 2.5 4.9 7.6 6.4 8.1 4.0 0.9 0.3 1.6 2.3 3.4 2.8 0.0 4.4
Producer price index 2.1 -0.5 -0.3 2.2 6.1 2.1 0.9 1.4 8.6 -0.2 3.8 6.7 0.7 -1.6 -0.5 -4.0 -1.8 3.5 1.9 0.0 -0.5
Implicit GDP deflator ... 3.5 3.0 3.4 3.1 1.0 -0.2 2.4 2.8 3.6 2.7 1.3 1.3 1.0 0.9 3.2 2.0 2.2 0.5 -0.8 1.3
6 Key Indicators for Asia and the Pacific 2021

Korea, Republic of
Item 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

MONEY AND INTEREST RATESg as of end of period (W billion)

Money supply (M1) 196,715 246,721 283,581 298,953 321,728 332,345 371,088 316,383 330,624 389,395 427,792 442,078 470,011 515,643 585,823 708,453 795,531 849,862 865,852 952,923 1,197,829
Currency in circulation 16,170 17,079 18,228 17,348 19,207 20,412 21,636 22,040 23,437 29,206 34,949 39,609 44,174 53,316 64,439 76,343 86,830 96,843 103,995 114,524 136,153
Demand depositsh 180,544 229,642 265,353 281,605 302,521 311,933 349,452 294,343 307,187 360,189 392,843 402,468 425,837 462,327 521,384 632,110 708,702 753,020 761,857 838,399 1,061,676
Quasi-money 510,984 518,259 588,495 599,116 632,995 689,104 778,175 957,229 1,095,264 1,177,456 1,232,738 1,309,381 1,365,631 1,405,152 1,491,412 1,538,922 1,611,928 1,680,491 1,834,511 1,960,687 2,002,007
Money supply (M2) 707,699 764,979 872,076 898,069 954,723 1,021,449 1,149,262 1,273,612 1,425,888 1,566,850 1,660,530 1,751,458 1,835,642 1,920,795 2,077,234 2,247,375 2,407,459 2,530,354 2,700,362 2,913,610 3,199,836
Foreign assets (net)i 125,714 129,943 118,151 151,839 180,521 181,536 173,671 223,400 155,669 259,150 294,416 313,718 334,379 385,446 427,674 500,136 534,177 547,441 575,568 611,842 628,226
Domestic credit 792,441 882,611 1,025,348 1,049,833 1,063,775 1,145,190 1,317,265 1,471,987 1,725,185 1,793,131 1,874,199 1,988,340 2,072,118 2,135,927 2,299,675 2,473,921 2,647,315 2,789,019 2,995,591 3,282,771 3,602,571
Net claims on central government -19,048 -24,864 -24,761 -17,146 -27,744 -47,441 -91,319 -94,361 -71,287 -81,912 -102,380 -99,848 -106,525 -112,643 -125,146 -139,356 -171,654 -194,012 -186,825 -182,161
Claims on local government -23,943 5,769 3,906 3,245 2,539 2,570 4,602 6,158 6,337 6,661 6,995 8,198 10,391 13,612 18,969 23,565 23,711 23,011 18,689 12,683 11,609
Claims on social security organizations 387 462 625 183 199 250 300 280 132 260 550 2,123 313 97 660 610 235 290 898 872
Claims on nonfinancial corporations 456,756 526,704 525,371 521,065 576,220 697,769 844,224 1,022,276 1,027,896 1,051,853 1,137,216 1,159,480 1,186,404 1,256,770 1,327,268 1,387,794 1,476,601 1,588,412 1,772,942 1,964,039
Claims on households 816,384 278,422 361,339 406,667 441,554 479,408 532,968 566,738 621,322 645,495 675,121 711,975 728,051 749,861 806,129 873,068 969,288 1,035,695 1,096,529 1,146,250 1,233,646
Claims on other financial institutions – 160,325 157,802 138,686 115,581 114,535 129,117 145,885 169,332 184,235 221,883 232,781 271,921 292,262 330,354 374,506 405,268 425,132 485,685 536,823 574,565
Other itemsj -210,456 -247,574 -271,423 -303,604 -289,574 -305,277 -341,674 -421,774 -454,966 -485,431 -508,085 -550,599 -570,855 -600,578 -650,114 -726,682 -774,033 -806,107 -870,797 -981,003 -1,030,961

Money Supply (M2) (% annual change) 5.2 8.1 14.0 3.0 6.3 7.0 12.5 10.8 12.0 9.9 6.0 5.5 4.8 4.6 8.1 8.2 7.1 5.1 6.7 7.9 9.8
M2 (% of GDP at current market prices) 108.6 108.2 111.1 107.2 105.1 106.7 114.3 116.9 123.5 130.0 125.5 126.1 127.5 128.0 132.9 135.5 138.3 137.8 142.3 151.4 165.5

Deposit Money Banksk

Demand depositsh 180,544 229,642 265,351 246,923 247,953 281,338 308,683 294,343 307,187 360,189 392,843 402,468 425,837 462,327 521,384 632,110 708,702 753,020 761,857 838,399 1,061,676
Savings depositsl 314,254 322,142 361,721 386,642 402,640 408,587 444,555 474,709 569,423 647,779 776,285 849,960 875,875 867,041 885,198 892,002 930,508 975,914 1,090,844 1,188,572 1,191,837
Time depositsm 196,730 196,117 226,774 212,474 230,354 280,517 333,619 482,521 525,841 529,677 456,454 459,421 489,757 538,111 606,213 646,920 681,420 704,578 743,666 772,115 810,170
Domestic credits outstanding 792,441 882,611 1,025,348 1,049,833 1,063,775 1,145,190 1,317,265 1,471,987 1,725,185 1,793,131 1,874,199 1,988,340 2,072,118 2,135,928 2,299,675 2,473,921 2,647,315 2,789,019 2,995,591 3,282,771 3,602,571

Interest Rates period averages (% per annum)

On deposits
Savingsn 7.1 5.5 4.7 4.2 3.8 3.6 4.4 5.0 5.7 3.2 3.2 3.7 3.4 2.7 2.4 1.7 1.5 1.5 1.8 1.7 1.0
Time: 6 months 7.5 5.6 4.9 4.3 3.8 3.6 4.4 5.0 5.7 3.3 3.3 3.7 3.4 2.7 2.5 1.8 1.5 1.6 1.9 1.8 1.1
12 months 7.9 5.8 5.0 4.3 3.9 3.7 4.5 5.2 5.9 3.5 3.9 4.2 3.7 2.9 2.5 1.8 1.6 1.7 2.0 1.9 1.2
On loans and discounts
Commercial billso 8.6 7.7 6.7 6.2 5.9 5.6 6.0 6.6 7.2 5.7 5.5 5.8 5.4 4.6 4.3 3.5 3.4 3.5 3.7 3.5 2.8

GOVERNMENT FINANCE fiscal year ending 31 December (W billion)

General Government
Revenue ... ... ... ... ... ... ... ... ... ... ... ... 479,727 484,435 504,923 534,557 568,032 610,244 633,788 655,480 ...
Taxes ... ... ... ... ... ... ... ... ... ... ... ... 258,649 260,176 270,524 291,192 320,696 348,269 380,956 384,982 ...
Taxes on income, profits, and capital gains ... ... ... ... ... ... ... ... ... ... ... ... 105,096 105,172 109,781 122,163 136,954 152,332 177,413 177,245 ...
Payable by individuals ... ... ... ... ... ... ... ... ... ... ... ... 58,855 60,927 66,438 76,118 84,613 92,734 104,932 104,397 ...
Payable by corporations and other enterprises ... ... ... ... ... ... ... ... ... ... ... ... 46,241 44,245 43,343 46,045 52,341 59,598 72,481 72,848 ...
Other taxes on income, profits, and capital gains ... ... ... ... ... ... ... ... ... ... ... ... – – – – – – – – ...
Taxes on payroll and workforce ... ... ... ... ... ... ... ... ... ... ... ... – – – – – – – – ...
Taxes on property ... ... ... ... ... ... ... ... ... ... ... ... 40,498 39,256 44,409 49,591 52,266 29,118 60,600 62,396 ...
Taxes on goods and services ... ... ... ... ... ... ... ... ... ... ... ... 92,192 91,276 96,196 97,040 109,276 143,812 120,440 122,789 ...
Taxes on international trade and transaction ... ... ... ... ... ... ... ... ... ... ... ... 9,609 10,839 8,705 8,516 8,156 8,616 8,350 7,701 ...
Other taxes ... ... ... ... ... ... ... ... ... ... ... ... 11,254 13,634 11,434 13,881 14,044 14,392 14,154 14,852 ...
Social contributions ... ... ... ... ... ... ... ... ... ... ... ... 90,422 95,717 102,600 109,407 117,732 125,037 134,461 146,439 ...
 Key Indicators for Asia and the Pacific 2021 7

Korea, Republic of
Item 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Grants ... ... ... ... ... ... ... ... ... ... ... ... 49 – 0 0 0 1 0 0 ...
Other revenue ... ... ... ... ... ... ... ... ... ... ... ... 130,607 128,541 131,799 133,957 129,604 136,936 118,370 124,058 ...
Expense ... ... ... ... ... ... ... ... ... ... ... ... 418,814 421,085 442,842 470,169 482,889 516,900 537,798 590,596 ...
Compensation of employees ... ... ... ... ... ... ... ... ... ... ... ... 82,171 86,316 90,415 94,906 99,633 105,300 112,712 119,961 ...
Use of goods and services ... ... ... ... ... ... ... ... ... ... ... ... 82,490 86,311 92,234 99,060 106,437 110,732 107,557 117,258 ...
Consumption of fixed capital ... ... ... ... ... ... ... ... ... ... ... ... 21,458 23,952 24,692 26,593 27,538 29,792 31,739 33,210 ...
Interest ... ... ... ... ... ... ... ... ... ... ... ... 21,754 21,580 22,613 22,208 21,008 20,705 20,412 21,055 ...
Subsidies ... ... ... ... ... ... ... ... ... ... ... ... 58,381 70,602 70,005 76,569 74,316 77,017 86,651 103,125 ...
Grants ... ... ... ... ... ... ... ... ... ... ... ... 488 536 597 658 139 137 626 701 ...
Social benefits ... ... ... ... ... ... ... ... ... ... ... ... 91,156 85,565 92,593 100,105 108,941 118,986 138,694 155,675 ...
Other expense ... ... ... ... ... ... ... ... ... ... ... ... 60,917 46,223 49,694 50,070 44,878 54,231 39,405 39,612 ...
Net operating balance ... ... ... ... ... ... ... ... ... ... ... ... 60,913 63,350 62,081 64,388 85,144 93,344 95,990 64,884 ...
Gross operating balance ... ... ... ... ... ... ... ... ... ... ... ... 82,371 87,302 86,773 90,981 112,682 123,136 127,729 98,094 ...
Transactions in Nonfinancial Assets
Net/gross investment in nonfinancial assets ... ... ... ... ... ... ... ... ... ... ... ... 44,452 42,184 41,284 44,885 42,282 45,857 37,139 48,551 ...
Fixed assets ... ... ... ... ... ... ... ... ... ... ... ... 34,713 29,582 26,511 26,737 31,256 31,521 33,473 41,434 ...
Inventories ... ... ... ... ... ... ... ... ... ... ... ... -1,690 650 387 724 331 1,026 -1,777 221 ...
Valuables ... ... ... ... ... ... ... ... ... ... ... ... 0 – – – – – – – ...
Nonproduced assets ... ... ... ... ... ... ... ... ... ... ... ... 11,429 11,952 14,386 17,425 10,696 13,309 5,444 6,896 ...
Expenditure ... ... ... ... ... ... ... ... ... ... ... ... 463,267 463,269 484,126 515,055 525,171 562,757 574,937 639,147 ...
Net lending/Net borrowing ... ... ... ... ... ... ... ... ... ... ... ... 16,461 21,165 20,797 19,502 42,861 47,487 58,851 16,333 ...
Primary balance ... ... ... ... ... ... ... ... ... ... ... ... 38,214 42,746 43,410 41,711 63,869 68,192 79,264 37,388 ...
Transactions in Financial Assets and Liabilities (Financing)
Net acquisition of financial assets ... ... ... ... ... ... ... ... ... ... ... ... 55,483 75,051 71,758 71,546 79,386 72,134 75,454 65,916 ...
Domestic ... ... ... ... ... ... ... ... ... ... ... ... 55,483 61,104 ... ... 77,886 71,758 74,401 63,383 ...
External ... ... ... ... ... ... ... ... ... ... ... ... 0 13,947 ... ... 1,500 376 1,053 2,533 ...
Net incurrence of liabilities ... ... ... ... ... ... ... ... ... ... ... ... 40,723 53,886 50,960 52,043 36,525 24,647 16,603 49,583 ...
Domestic ... ... ... ... ... ... ... ... ... ... ... ... 41,334 -4,914 ... ... 31,272 19,275 573 36,934 ...
External ... ... ... ... ... ... ... ... ... ... ... ... -611 58,799 ... ... 5,253 5,372 16,030 12,649 ...

Government Finance (% of GDP at current market prices)

Revenue ... ... ... ... ... ... ... ... ... ... ... ... 33.3 32.3 32.3 32.2 32.6 33.2 33.4 34.1 ...
Taxes ... ... ... ... ... ... ... ... ... ... ... ... 18.0 17.3 17.3 17.6 18.4 19.0 20.1 20.0 ...
Taxes payable by individuals ... ... ... ... ... ... ... ... ... ... ... ... 4.1 4.1 4.3 4.6 4.9 5.1 5.5 5.4 ...
Taxes payable by corporations and other enterprises ... ... ... ... ... ... ... ... ... ... ... ... 3.2 2.9 2.8 2.8 3.0 3.2 3.8 3.8 ...
Expenditure ... ... ... ... ... ... ... ... ... ... ... ... 32.2 30.9 31.0 31.1 30.2 30.7 30.3 33.2 ...
Net lending/Net borrowing ... ... ... ... ... ... ... ... ... ... ... ... 1.1 1.4 1.3 1.2 2.5 2.6 3.1 0.8 ...
Primary balance ... ... ... ... ... ... ... ... ... ... ... ... 2.7 2.8 2.8 2.5 3.7 3.7 4.2 1.9 ...

Expenditure by Function, Central Government

Total expenditure 126,788 142,865 131,057 157,026 168,329 183,566 200,537 203,908 236,127 269,325 251,156 270,655 289,084 296,557 308,980 336,244 351,546 399,728 404,492 452,094 ...
General public services 6,653 6,861 8,234 9,233 8,093 8,373 9,284 11,494 11,627 15,379 13,512 14,298 16,017 18,765 16,652 17,115 19,525 18,335 18,671 21,467 ...
Defense 14,397 15,721 15,260 17,156 18,472 20,200 21,390 22,397 25,182 27,719 27,772 30,134 30,765 32,370 33,300 35,040 36,215 37,366 40,710 44,327 ...
Public order and safety 5,794 6,331 7,061 8,831 8,777 9,210 10,640 10,846 10,783 12,030 12,373 13,546 15,194 14,987 15,687 16,627 17,566 18,469 18,974 20,231 ...
Economic affairs 31,954 41,793 29,624 29,892 31,103 34,220 36,179 37,604 43,982 54,431 47,607 48,546 48,803 48,909 47,542 55,570 55,229 64,060 45,357 51,701 ...
Environmental protection ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...
Housing and community amenities 6,773 12,199 2,483 8,693 11,697 13,748 14,605 14,344 14,063 16,965 12,330 12,758 15,844 12,705 13,464 14,327 14,272 30,388 32,607 27,073 ...
8 Key Indicators for Asia and the Pacific 2021

Korea, Republic of
Item 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Health 940 836 498 1,538 1,567 2,102 2,183 1,986 2,189 2,821 2,972 2,641 2,617 3,057 3,028 4,727 4,291 4,450 4,489 4,508 ...
Recreation, culture, and religion 1,048 1,329 1,851 1,731 1,909 2,183 2,387 1,900 2,166 2,540 2,913 3,189 3,428 3,929 3,991 4,591 5,073 5,294 4,589 5,802 ...
Education 19,373 22,924 21,573 24,045 25,580 27,491 28,567 30,403 35,790 38,894 37,676 40,988 45,093 48,263 50,310 50,392 53,748 59,192 63,707 70,385 ...
Social protection 19,343 18,414 21,231 26,033 29,761 32,986 36,968 41,602 47,648 53,998 56,350 60,107 66,114 72,806 79,196 87,601 92,593 99,238 108,124 130,568 ...
Othersp 20,513 16,455 23,242 29,874 31,370 33,054 38,336 31,332 42,699 44,548 37,651 44,449 45,211 40,767 45,812 50,257 53,034 60,815 67,265 76,031 ...

Expenditure by Function (% of GDP at current market prices)

Education 3.0 3.2 2.7 2.9 2.8 2.9 2.8 2.8 3.1 3.2 2.8 3.0 3.1 3.2 3.2 3.0 3.1 3.2 3.4 3.7 ...
Health 0.1 0.1 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.3 0.2 0.2 0.2 0.2 ...
Social Protection 3.0 2.6 2.7 3.1 3.3 3.4 3.7 3.8 4.1 4.5 4.3 4.3 4.6 4.9 5.1 5.3 5.3 5.4 5.7 6.8 ...

EXTERNAL TRADE calendar year ($ million)

Exports, fob 172,268 150,439 162,471 193,817 253,845 284,419 325,465 371,489 422,007 363,534 466,384 555,214 547,870 559,632 572,665 526,757 495,426 573,694 604,860 542,233 512,498
Imports, cif 160,481 141,098 152,126 178,827 224,463 261,238 309,383 356,846 435,275 323,085 425,212 524,413 519,584 515,586 525,515 436,499 406,193 478,478 535,202 503,343 467,633
Trade balance 11,786 9,341 10,344 14,991 29,382 23,180 16,082 14,643 -13,267 40,449 41,172 30,801 28,285 44,047 47,150 90,258 89,233 95,216 69,657 38,890 44,865

External Trade (% annual change)

Exports 19.9 -12.7 8.0 19.3 31.0 12.0 14.4 14.1 13.6 -13.9 28.3 19.0 -1.3 2.1 2.3 -8.0 -5.9 15.8 5.4 -10.4 -5.5
Imports 34.0 -12.1 7.8 17.6 25.5 16.4 18.4 15.3 22.0 -25.8 31.6 23.3 -0.9 -0.8 1.9 -16.9 -6.9 17.8 11.9 -6.0 -7.1

Direction of Trade calendar year ($ million)

Exports, total 172,179 150,356 161,919 193,731 253,745 284,243 325,173 371,213 421,778 363,280 466,384 555,405 547,870 559,632 572,665 526,757 495,857 562,026 605,708 542,602 512,647
1. China, People’s Republic of 18,455 18,190 23,754 35,110 49,763 61,915 69,459 81,985 91,389 86,703 116,838 134,205 134,323 145,869 145,288 137,124 124,442 141,181 162,168 136,273 132,580
2. United States 37,806 31,358 32,943 34,369 43,027 41,500 43,321 45,884 46,501 37,803 49,992 56,417 58,807 62,327 70,556 70,117 66,754 68,734 73,314 73,892 74,531
3. Viet Nam 1,686 1,732 2,240 2,561 3,256 3,432 3,927 5,760 7,805 7,149 9,652 13,551 15,946 21,088 22,352 27,771 32,704 46,005 48,637 48,218 48,517
4. Hong Kong, China 10,708 9,452 10,146 14,654 18,127 15,531 18,979 18,654 19,772 19,661 25,294 30,975 32,606 27,756 27,256 30,418 32,709 38,730 46,010 31,914 30,662
5. Japan 20,466 16,506 15,143 17,276 21,701 24,027 26,534 26,370 28,252 21,771 28,176 39,713 38,796 34,662 32,184 25,577 24,363 26,520 30,595 28,420 25,086
6. Taipei,China 8,027 5,835 6,632 7,045 9,844 10,863 12,996 13,027 11,462 9,501 14,830 18,198 14,815 15,699 15,077 12,004 12,157 14,630 20,773 15,713 16,471
7. India 1,326 1,408 1,384 2,853 3,632 4,598 5,533 6,600 8,977 8,013 11,435 12,686 11,922 11,376 12,782 12,030 11,374 14,822 15,611 15,096 11,943
8. Singapore 5,648 4,080 4,222 4,636 5,654 7,407 9,489 11,949 16,293 13,617 15,244 20,855 22,888 22,289 23,750 15,011 12,821 11,974 11,794 12,823 9,853
9. Mexico 2,391 2,149 2,231 2,455 2,994 3,789 6,285 7,482 9,090 7,133 8,846 9,728 9,042 9,727 10,846 10,892 9,648 10,717 11,460 10,929 8,242
 10. Australia 2,606 2,173 2,340 3,272 3,378 3,812 4,692 4,691 5,171 5,243 6,642 8,163 9,250 9,563 10,283 10,831 7,496 16,400 9,623 7,891 6,207

Imports, total 160,340 140,986 151,292 178,738 224,283 261,097 309,146 356,501 435,149 323,069 425,212 524,375 519,584 515,586 525,515 436,499 406,032 472,574 534,720 502,758 467,645
1. China, People’s Republic of 12,799 13,303 17,400 21,909 29,585 38,648 48,557 63,028 76,930 54,246 71,574 86,426 80,785 83,053 90,082 90,250 86,972 97,010 106,449 107,191 108,855
2. United States 29,286 22,431 23,111 24,935 28,919 30,788 33,797 37,393 38,556 29,161 40,589 44,816 43,654 41,766 45,540 44,212 43,389 49,799 58,982 62,073 57,763
3. Japan 31,828 26,633 29,856 36,313 46,144 48,403 51,926 56,250 60,956 49,428 64,296 68,302 64,363 60,029 53,768 45,854 47,462 54,369 54,559 47,474 46,023
4. Germany 4,625 4,473 5,472 6,822 8,486 9,774 11,365 13,534 14,769 12,298 14,305 16,959 17,645 19,336 21,299 20,957 18,972 19,905 20,840 19,932 20,656
5. Saudi Arabia 9,641 8,058 7,551 9,268 11,800 16,106 20,552 21,164 33,781 19,737 26,820 36,976 39,707 37,665 36,695 19,561 15,701 19,251 26,261 21,764 15,954
6. Australia 5,959 5,534 5,973 5,916 7,438 9,860 11,309 13,232 18,000 14,756 20,456 26,323 22,988 20,785 20,413 16,438 15,133 18,652 20,699 20,556 18,681
7. Viet Nam 322 386 470 511 673 694 925 1,392 2,037 2,370 3,331 5,084 5,719 7,175 7,990 9,805 12,534 15,840 19,626 21,068 20,577
8. Taipei,China 4,701 4,301 4,832 5,880 7,312 8,050 9,288 9,967 10,643 9,851 13,647 14,693 14,012 14,633 15,690 16,654 16,399 17,830 16,720 15,716 17,837
9. Russian Federation 2,058 1,929 2,218 2,522 3,671 3,937 4,573 6,977 8,340 5,789 9,899 10,855 11,354 11,495 15,669 11,308 8,643 11,739 17,458 14,532 10,683
 10. Qatar 2,292 2,572 2,173 3,140 3,650 5,599 6,985 8,454 14,375 8,386 11,915 20,754 25,505 25,874 25,723 16,475 10,036 11,156 16,294 13,035 7,561
 Key Indicators for Asia and the Pacific 2021 9

Korea, Republic of
Item 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

BALANCE OF PAYMENTSq calendar year ($ million)

Current account 10,181 2,165 4,066 11,308 29,290 12,209 2,095 10,473 1,753 33,088 27,951 16,638 48,791 77,259 83,030 105,119 97,924 75,231 77,467 59,676 75,276
Balance on goods 15,393 9,407 14,414 22,138 39,173 32,493 24,515 32,436 11,746 48,056 47,932 28,014 48,589 80,259 86,145 120,275 116,462 113,593 110,087 79,812 81,945
Exports 169,524 146,420 160,956 194,912 256,054 285,262 329,111 382,803 432,910 363,931 463,835 587,213 603,665 618,393 613,397 543,083 511,926 580,310 626,267 556,668 516,604
Imports 154,131 137,013 146,542 172,774 216,881 252,770 304,596 350,367 421,164 315,876 415,902 559,199 555,076 538,134 527,252 422,808 395,464 466,717 516,180 476,856 434,659
Balance on services -846 -2,266 -5,826 -4,845 -5,050 -8,984 -13,040 -13,040 -6,311 -9,338 -13,973 -12,057 -5,058 -6,329 -3,290 -14,626 -17,338 -36,734 -29,369 -26,845 -16,190
Credit 32,556 30,777 31,023 35,761 45,285 50,538 57,012 71,413 91,045 72,541 82,949 90,560 103,134 103,324 111,902 97,499 94,809 89,701 103,678 103,839 90,106
Debit 33,402 33,043 36,849 40,606 50,335 59,522 70,052 84,453 97,356 81,879 96,922 102,616 108,192 109,653 115,192 112,124 112,148 126,435 133,047 130,684 106,296
Balance on primary income -4,152 -3,714 -2,407 -2,820 -1,794 -8,041 -4,998 -4,537 -2,416 -3,436 -693 5,396 10,733 7,518 5,159 4,455 4,567 5,337 4,902 12,856 12,050
Credit 7,037 7,278 7,300 7,692 10,781 11,467 14,710 20,118 20,808 14,711 21,976 26,666 29,153 28,982 28,233 25,102 26,473 29,472 34,822 41,372 35,400
Debit 11,189 10,992 9,707 10,512 12,575 19,508 19,708 24,655 23,224 18,147 22,669 21,270 18,420 21,464 23,073 20,647 21,906 24,135 29,920 28,516 23,349
Balance on secondary income -214 -1,261 -2,114 -3,165 -3,038 -3,258 -4,382 -4,387 -1,267 -2,195 -5,317 -4,716 -5,474 -4,189 -4,985 -4,985 -5,767 -6,965 -8,153 -6,147 -2,530
Credit 4,441 4,476 5,325 5,862 6,162 6,252 6,065 6,609 9,275 7,902 7,050 8,432 8,558 8,779 8,874 8,844 8,743 9,707 9,477 10,428 10,593
Debit 4,655 5,738 7,439 9,026 9,200 9,510 10,447 10,997 10,542 10,097 12,366 13,148 14,032 12,968 13,859 13,830 14,509 16,672 17,630 16,575 13,123
Capital account 38 -64 -9 -48 10 -1 -69 6 26 -70 -63 -112 -42 -27 -9 -60 -46 -27 317 -169 -339
Credit 73 6 12 14 23 113 64 156 104 16 62 24 21 59 54 88 81 250 425 85 31
Debit 34 70 21 62 13 114 133 151 77 85 125 136 62 86 63 149 127 276 108 254 370
Financial account -14,245 713 -6,240 -9,169 -4,651 -1,337 -10,147 1,998 49,951 -41,486 -5,450 8,968 35,205 62,243 68,622 90,905 92,310 80,159 58,978 57,561 59,724
Direct investment -6,667 -3,779 -2,038 -1,991 -6,099 -5,313 3,401 13,004 8,349 8,379 18,724 19,875 21,103 15,551 18,725 19,583 17,785 16,157 26,038 25,605 23,256
Portfolio investment -12,177 -6,706 -346 -17,287 -6,599 3,518 23,386 27,078 2,421 -51,188 -42,365 -13,143 -6,748 9,345 30,609 49,530 66,970 57,853 47,421 42,377 41,494
Financial derivatives 179 123 -362 -619 -2,020 -1,790 -484 -5,445 14,369 4,912 -829 1,031 -2,628 -4,410 -3,827 1,791 -3,440 -8,253 -1,502 6,233 4,215
Other investment 4,419 11,075 -3,493 10,729 10,067 2,248 -36,449 -32,640 24,811 -3,589 19,019 1,204 23,478 41,758 23,115 20,001 10,995 14,403 -12,978 -16,654 -9,241
Net errors and omissions -693 6,188 1,503 5,421 4,760 6,261 9,940 6,648 -8,274 -5,837 -6,367 6,394 -360 1,307 3,487 -2,101 2,048 9,312 -1,310 -480 2,180
Overall balance 23,771 7,576 11,799 25,849 38,711 19,806 22,113 15,128 -56,446 68,666 26,971 13,953 13,185 16,296 17,886 12,053 7,615 4,357 17,496 1,466 17,392
Reserves and related items -23,771 -7,576 -11,799 -25,849 -38,711 -19,806 -22,113 -15,128 56,446 -68,666 -26,971 -13,953 -13,185 -16,296 -17,886 -12,053 -7,615 -4,357 -17,496 -1,466 -17,392
International investment position -36,455 -57,708 -61,084 -63,021 -60,218 -143,872 -156,707 -188,934 -70,246 -100,688 -132,653 -82,191 -97,686 -40,365 80,921 204,461 281,098 261,698 436,162 500,946 441,444

Balance of Payments (% of GDP at current market prices)

Exports 29.4 26.7 25.7 27.7 32.3 30.5 31.3 32.6 41.3 38.6 40.6 46.9 47.2 45.1 41.3 37.0 34.1 35.8 36.3 33.7 31.5
Imports 26.7 25.0 23.4 24.6 27.4 27.0 28.9 29.9 40.1 33.5 36.4 44.6 43.4 39.3 35.5 28.8 26.4 28.8 29.9 28.9 26.5
Balance on goods 2.7 1.7 2.3 3.2 4.9 3.5 2.3 2.8 1.1 5.1 4.2 2.2 3.8 5.9 5.8 8.2 7.8 7.0 6.4 4.8 5.0
Current account balance 1.8 0.4 0.6 1.6 3.7 1.3 0.2 0.9 0.2 3.5 2.4 1.3 3.8 5.6 5.6 7.2 6.5 4.6 4.5 3.6 4.6
Overall balance 4.1 1.4 1.9 3.7 4.9 2.1 2.1 1.3 -5.4 7.3 2.4 1.1 1.0 1.2 1.2 0.8 0.5 0.3 1.0 0.1 1.1

INTERNATIONAL RESERVES as of end of period ($ million)

Total 96,198 102,822 121,414 155,355 199,069 210,391 238,957 262,224 201,220 270,012 291,571 306,422 326,968 346,444 363,580 367,944 371,103 389,248 403,575 408,500 441,907
Gold, national valuation 67.6 68.3 69.2 70.9 72.3 73.6 74.2 74.3 75.7 79.0 79.6 2,166.6 3,761.4 4,794.5 4,794.7 4,794.8 4,794.8 4,794.8 4,794.8 4,794.8 4,794.8
Foreign exchange 95,855.1 102,487.5 120,811.4 154,508.8 198,175.3 209,967.7 238,387.9 261,770.7 200,479.1 265,202.3 286,926.4 298,232.9 316,897.7 335,647.5 353,600.5 358,513.8 361,701.4 379,476.6 393,332.5 397,876.1 430,117.2
Reserve position in the IMF 271.8 262.4 522.0 754.4 788.4 305.8 440.4 310.8 579.8 985.2 1,024.8 2,564.3 2,783.7 2,512.3 1,903.1 1,396.8 1,719.5 1,594.2 2,021.2 2,476.2 3,624.6
SDRs 3.5 3.3 11.8 21.1 32.8 43.7 54.1 68.7 85.6 3,745.5 3,540.0 3,457.7 3,525.7 3,489.9 3,281.4 3,238.7 2,887.1 3,382.4 3,426.6 3,352.4 3,370.7

EXCHANGE RATES (W–$)

End of period 1,259.7 1,326.1 1,200.4 1,197.8 1,043.8 1,013.0 929.6 938.2 1,257.5 1,167.6 1,138.9 1,153.3 1,071.1 1,055.3 1,099.2 1,172.0 1,208.5 1,071.4 1,118.1 1,157.8 1,088.0
Average of period 1,130.4 1,290.8 1,251.6 1,191.6 1,146.2 1,024.3 955.3 929.4 1,100.1 1,277.2 1,156.5 1,108.2 1,126.8 1,095.0 1,052.8 1,131.0 1,160.8 1,131.0 1,100.2 1,165.4 1,180.3
10 Key Indicators for Asia and the Pacific 2021

Korea, Republic of
Item 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

EXTERNAL INDEBTEDNESS as of end of year ($ million)

Total debt outstanding and disbursed 133,807 114,666 127,376 137,205 146,961 160,478 226,972 336,237 314,076 342,082 354,693 399,150 408,188 422,082 422,992 396,058 382,162 412,028 441,173 466,979 542,448
Long-term debtr 91,609 80,927 84,429 90,706 94,115 95,385 111,322 173,043 167,243 196,214 219,740 260,612 281,396 312,204 308,376 291,745 277,354 296,063 315,552 332,482 384,958
Public and publicly guaranteed ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...
Private nonguaranteed ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...
Short-term debt 42,198 33,739 42,947 46,499 52,846 65,093 115,649 163,194 146,832 145,869 134,953 138,538 126,792 109,878 114,616 104,314 104,807 115,965 125,621 134,497 157,490
Use of IMF credit – – – – – – – – – – – – – – – – – – – – –
External debt (% of GNI)s 23.4 21.1 20.4 19.6 18.5 17.3 21.6 28.7 30.0 36.3 31.0 31.6 31.6 30.6 28.4 26.9 25.4 25.3 25.5 28.0 32.9
Total long-term debt (% of total debt) 68.5 70.6 66.3 66.1 64.0 59.4 49.0 51.5 53.2 57.4 62.0 65.3 68.9 74.0 72.9 73.7 72.6 71.9 71.5 71.2 71.0
Short-term debt (% of total debt) 31.5 29.4 33.7 33.9 36.0 40.6 51.0 48.5 46.8 42.6 38.0 34.7 31.1 26.0 27.1 26.3 27.4 28.1 28.5 28.8 29.0
Debt service (% of exports of goods and services) ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...

... = data not available; – = magnitude equals zero; 0 or (-/+) 0.0 = magnitude is less than half of unit employed; $ = United States dollars; cif = cost, insurance, and freight; fob = free on board; GDP = gross domestic product;
GWh = gigawatt hour; GNI = gross national income; IMF = International Monetary Fund; km2 = square kilometer; L = liter; m3 = cubic meter; NPISHs = nonprofit institutions serving households; SDRs = special drawing rights; t = metric ton; W = won.

a Refers to time-related underemployment.
b Aggregates for GDP were revised as a result of the implementation of the System of National Accounts 2008 and updating of the reference period to 2015.
c Includes trading gains or losses and net factor income from abroad.
d Growth rates are not available due to additivity issues when calculating at chained prices.
e Refers to crude oil and petroleum products. Original values measured in barrels were converted using 1 barrel = 0.131 metric ton.
f Refers to unleaded gasoline prices.
g The monetary aggregates were redefined in line with the IMF’s most recent Monetary and Financial Statistics Manual (2000).
h Comprises demand deposits, savings deposits with transferability, and money market funds (MMFs). Corporate MMFs were excluded from November 2005 because, from November 2005,
corporate MMFs are subject to redemption the next business day. Individual MMFs were also excluded from March 2007 because, from March 2007, individual MMFs are subject to redemption and deposit the next business day.
i For 2001 onward, data strictly adhere to the IMF’s Monetary and Financial Statistics Manual (2000).
j Includes deposits and securities excluded from money supply (M2), loans, financial derivatives, and other (net) items, shares and other equity, and consolidation (net) adjustment.
k Refers to depository corporations. Comprises commercial banks, specialized banks, the Export–Import Bank of Korea, merchant banking corporations, investment trust companies, trust accounts of banks, mutual savings banks,
mutual credits, community credit cooperatives, credit unions, and postal savings.
l Includes time deposits and installment savings deposits with maturities of less than 2 years.
m Refers to other deposits included in the national definition of broad money, other than time and savings deposits with maturity of less than 2 years. Also includes marketable instruments, yield-based dividend instruments, bills issued by merchant banking corporations, etc.
n Weighted averages of interest rates on newly extended time and savings deposits of commercial and specialized banks.
o Weighted averages of interest rates on newly extended loans and discounts of commercial and specialized banks.
p “Others” includes public debt transactions, transactions to other levels of national government, and others.
q Data have been compiled in accordance with the IMF’s Balance of Payments and International Investment Position Manual (sixth edition).
r Includes debt securities, loans, currency and deposits, trade credits and advances, other debt liabilities, and special drawing rights.
s GNI was converted into United States dollars using the average of period exchange rate from the IMF.

Sources:

Population Statistics Korea (KOSTAT). Official communication, 23 March 2021; past communication.

Urban population (% of total population) United Nations. World Urbanization Prospects 2018. https://population.un.org/wup/Download/ (accessed 12 May 2021).

Labor Force KOSTAT. Official communication, 23 March 2021; past communication.

National Accounts Bank of Korea (BOK). Official communication, 30 July 2021, past communication; http://ecos.bok.or.kr/EIndex_en.jsp (accessed 30 July 2021).

Production Indexes

 Key Indicators for Asia and the Pacific 2021 11

Korea, Republic of
Agriculture Food and Agriculture Organization of the United Nations. FAOSTAT Database. http://www.fao.org/faostat/en/#data (accessed 19 May 2021).

Mining KOSTAT. Official communication, 23 March 2021; past communication.
Manufacturing

Energy KOSTAT. Official communication, 23 March 2021; past communication.

Price Indexes KOSTAT. Official communication, 23 March 2021; past communication.

Money and Interest Rates BOK. Official communication, 12 March 2021, past communication; http://ecos.bok.or.kr/EIndex_en.jsp (accessed 31 May 2021).

Government Finance KOSTAT. Official communication, 23 March 2021; past communication.

External Trade KOSTAT. Official communication, 23 March 2021; past communication.

Direction of Trade International Monetary Fund (IMF). Direction of Trade Statistics. http://data.imf.org/ (accessed 2 June 2021).

Balance of Payments BOK. Official communication, 12 March 2021, past communication; http://ecos.bok.or.kr/EIndex_en.jsp (accessed 31 May 2021).

International Reserves IMF. International Financial Statistics. http://data.imf.org/ (accessed 21 April 2021).

Exchange Rates IMF. International Financial Statistics. http://data.imf.org/ (accessed 21 April 2021).

External Indebtedness BOK. Official communication, 12 March 2021, past communication; http://ecos.bok.or.kr/EIndex_en.jsp (accessed 31 May 2021).