What is the GDP of South Korea?

South Korea's GDP is approximately $1875.4 billion USD. The GDP growth rate is 2%.

What is the population of South Korea?

South Korea has a population of approximately 51.8 million people. The population growth rate is 0.1%.

What is the inflation rate in South Korea?

The inflation rate in South Korea is 2.3%.

What is the unemployment rate in South Korea?

The unemployment rate in South Korea is 2.7%.

What is the GDP per capita of South Korea?

South Korea's GDP per capita is approximately $36,239 USD.

Is South Korea a good country to invest in?

South Korea has an investment score of 80/100, classified as "Safe" risk. Key sectors include Semiconductors, Automotive, Technology. Credit rating: AA.

How open is South Korea's economy to trade?

South Korea's trade openness (trade as % of GDP) is 85%. Exports total approximately $831.9B and imports $755.5B.

What is South Korea's government debt?

South Korea's government debt is approximately 49% of GDP. The current account balance is 5.3% of GDP.

How much foreign investment does South Korea attract?

Foreign direct investment (FDI) in South Korea is 0.7% of GDP. There may be opportunities for early-mover investors.

What are the main economic sectors in South Korea?

South Korea's economy is composed of services (58% of GDP), industry (34% of GDP), and agriculture (1% of GDP).

Can I start a business in South Korea as a foreigner?

South Korea offers various options for foreign entrepreneurs. Visit our business setup guide for South Korea for detailed information on entity types, registration steps, costs, tax rates, and foreign ownership rules.

Is South Korea's economy growing?

South Korea's GDP growth rate is 2%. The economy is growing at a moderate pace.

🇰🇷

South Korea Economy Overview

Name: NationsData World Economic Dataset
Creator: NationsData
License: https://datacatalog.worldbank.org/public-licenses#cc-by

East Asia & PacificHigh IncomeCapital: SeoulKOR

Safe

Growing

1,875.4B USD

GDP (Nominal)

Growing at 2%

$36,239

GDP Per Capita

High income level

51.8M

Population

+0.1% annual growth

Stable

2.3%

Inflation

Price stability

85%of GDP

Trade Openness

0.7%of GDP

FDI Inflows

Healthy

49%of GDP

Public Debt

Low

2.7%

Unemployment

Surplus

+$76.4B

Trade Balance

Currency & Exchange Rate

Currency

₩ South Korean Won

KRW

Exchange Rate (1 USD)

₩1,380.00

+3.8% YoY(weakened)

5-Year Change

+15.5%

From ₩1,195.00

Regime & Controls

managed float

Capital controls: limited

GDP

Billion USD, nominal

$1,875.4B

2024+30.6B

GDP Growth

Annual %

2024+0.4%

Inflation

Consumer prices, annual %

2.3%

2024-1.3%

Population

Millions

51.8M

2024+0.0M

Economic Structure

Services58%

Industry34%

Agriculture1%

Infrastructure94/100

Internet Speed

220 Mbps

Mobile: 120 Mbps

Logistics Index

3.7 /5.0

World Bank LPI

Electricity

99%

Reliability score

Connectivity

excellent

97% internet access

Investment Score Breakdown

Economic Health (30%)82

Political Safety (25%)78

Business Climate (20%)82

Financial Strength (15%)80

Growth Potential (10%)70

Key Sectors

Semiconductors

8% of GDP

growing

Automotive

5% of GDP

stable

Technology

12% of GDP

growing

Manufacturing

25% of GDP

stable

Should I Invest in South Korea?

Strong BuySetup: ModerateROI: Low

South Korea scores 80/100 on the NationsData Investment Index, rated "Safe". Growth is subdued at 2.2%. Business setup takes approximately 25 days with a corporate tax rate of 24%.

Investment Score80/100

GDP Growth2.2%

Inflation2.5%

FDI/GDP1.2%

Public Debt54%

Political Stability0.5

Corporate Tax24%

Ease of Business#5

Strengths

+Good political stability and rule of law
+World-class business environment - fast registration, strong IP protection
+Low inflation (2.5%) - stable pricing environment
+100% foreign ownership allowed - no local partner required
+Extensive tax treaty network (94 countries)
+Top 10 globally for ease of doing business (#5)

Risks

-High severance costs (4 weeks/year) - expensive to restructure

Best For

Semiconductors (growing, score: 95)Technology (growing, score: 90)Premium services and luxury brandsDigital businesses and SaaS

Also Consider

Japan

Same region, similar income level

New Zealand

Same region, similar income level

Taiwan

Same region, similar income level, faster growth (3.3%)

Australia

Same region

Countries Similar to South Korea

Based on investment profile, economic size, growth rate, and region

🇹🇼

Taiwan