Economy of South Korea - Wikipedia
The economy of South Korea is a highly developed mixed economy. [ 19 ] [ 20 ] [ 21 ] By nominal GDP, the economy was worth ₩2.61 quadrillion (US$1.87 trillion). It has the 4th largest economy in Asia and the 12th largest in the world as of 2024. [ 3 ]
Republic of Korea Overview: Development news, research, data | World Bank
The Republic of Korea has achieved remarkable success in recent decades in combining rapid economic growth with significant poverty reduction, with real gross domestic product (GDP) growing on average by 5.7% annually between 1980 and 2023.
Korea enters 2025 on backfoot amid won woes, glum growth …
1 天前 · Saddled with tumbling stocks, a tanking currency and faltering economic momentum, Korea is off to a rough start to what is widely expected to be a challenging year as its risk-laden economy must now navigate the complexities of a second Donald Trump term — with no president or even prime minister at the helm, no less. While political turbulence surrounding President Yoon Suk Yeol’s ...
Korea Economic Snapshot - OECD
The snapshot offers a concise summary of Korea's economic trends and prospects, drawing from the OECD Economic Survey, Economic Outlook, and Economic Policy Reform: Going for Growth reports, delivering in-depth analyses of economic trends, suggested policy recommendations, alongside an overview of structural policy developments.
Key economic indicators of South Korea - statistics & facts
2024年10月14日 · Over the past few decades, South Korea has achieved remarkable economic growth through its export-oriented, labor-intensive industrialization. It has grown to become the fourth-largest...
The Korean Economy – the Miracle on the Hangang River
Korea has achieved economic growth at an unprecedented speed. Observers refer to what it has accomplished the ‘Miracle on the Hangang River,’ as most of its industrial facilities were destroyed during the three-year-long Korean War, and it was devoid of capital and natural resources.
South Korea Economy, Politics and GDP Growth Summary - The …
Economic growth will bounce back in 2024, on the back of rebounding external demand and growing private consumption. Inter-Korean tensions will intensify as South Korea deepens defence co-operation with the US, while North Korea seeks to …
KDI Economic Outlook 2024-2nd Half - Korea Development …
The Korean economy is projected to grow by 2.0% in 2025, decelerating from 2024 (2.2%), as the slowdown in domestic demand moderates while export growth declines. Consumer price inflation is expected to register at 1.6%, down from 2024 (2.3%) and remaining below the target level due to subdued demand pressures and falling international oil prices.
South Korean Economy I Outlook 2024/2025 - Asia Fund Managers
2024年11月13日 · In 2020, South Korea’s Gross Domestic Product (GDP) contracted by 0.7%, marking its first economic decline since 1998, primarily due to the Covid-19 pandemic’s impact. The economy rebounded in 2021 with a 4.6% growth rate, the highest in 11 years, driven by strong semiconductor and automotive exports.
Republic of Korea Country/Economy Profile - Asian …
The economy reported its highest growth in a decade in 2021. After a 0.9% contraction in 2020, the economy grew by 4.0% in 2021 due to strong recovery in consumption from both private and public sectors. Success in COVID-19 containment, mass vaccinations, eased mobility restrictions, and labor market recovery bolstered private consumption.