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Indicators of economy in South Korea

The essential economic performance of a country is reflected by the gross domestic product. So the total of all goods and services sold. Worldwide gross domestic product in 2019 was at about 11.429 US Dollar per capita. In contrast, the GDP in South Korea reached 31.846 US dollars per inhabitant, or 1,646.74 bn US Dollar in the whole country. South Korea is therefore one of the world's largest economies and is currently at rank 12. If this is calculated per inhabitant taking into account the purchasing power parity, then South Korea is in the list of the world's richest countries in place 32.

Inflation in South Korea was in 2020 at around 0.54%. For the the EU, the average of the same was year at 0.51%.

Compared to Germany, the prices for convenience goods are approximately 8.27% lower.
The Corruption Perceptions Index for the public sector counts 61 and is compared to other countries moderate.


Back to overview: South Korea

Unemployment rates in percent 1991 - 2020

Economic performance 2019

 South Korea
Total
South Korea
per capita
EU
Total
EU
per capita
GDP1,646.74 bn USD31,846.22 USD15,626.45 tn USD30,377.04 USD
Gross national product1,747.19 bn USD33,788.89 USD16,026.52 tn USD31,154.76 USD


South Korea ranked 1st in the Bloomberg Innovation Index in 2021. The index is calculated annually and most recently included 60 countries. 58 of the 2000 largest listed companies in the world originate from South Korea. This is determined annually in the "Forbes Global 2000" list. The 10 largest companies in the country were in 2020:

Rank 16: Samsung Electronics (Suwon)
Rank 189: Hyundai Motor (Seoul)
Rank 268: Shinhan Financial Group (Seoul)
Rank 278: KB Financial Group (Seoul)
Rank 296: SK Hynix (Icheon)
Rank 365: Posco (Seoul)
Rank 417: Hyundai Mobis (Seoul)
Rank 420: Hana Financial Group (Seoul)
Rank 478: KIA Motors (Seoul)
Rank 510: Samsung C&T (Seoul)

Development of the Gross domestic product in billion US Dollar 1979 - 2019



Im- and Exports 2019

 South Korea
Total
South Korea
per capita
EU
Total
EU
per capita
Imports615.76 bn USD11,908.13 USD8,073.39 bn USD15,694.28 USD
Exports669.59 bn USD12,949.24 USD8,622.21 bn USD16,761.16 USD


Development of imports and exports in billion US dollars 1979 - 2019

Exports
Imports



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