South Korea: economy

How fast is South Korea's economy growing?

South Korea's real GDP grew 0.6% in the second quarter of 2026 from the first quarter, after 1.8% in the first quarter, according to the Bank of Korea's ECOS statistics database (main quarterly indicators, series 200Y102). The fourth quarter of 2025 showed a fall of 0.1%.

These are seasonally adjusted quarter-on-quarter rates, so four quarters add up roughly to the annual pace. For the whole of 2025, the Ministry of Data and Statistics' Social Indicators in 2025 puts real growth at 1.0%, a preliminary figure. The Bank of Korea revises quarterly figures as fuller data arrive.

Official sources: Bank of Korea: ECOS statistics database · Ministry of Data and Statistics: Social Indicators in 2025

What is South Korea's current account balance?

South Korea recorded a current account surplus of US$46.1 billion in August 2026, according to the Bank of Korea's ECOS statistics database (balance of payments, series 301Y013). The goods balance alone was a surplus of US$46.8 billion that month.

Monthly surpluses in 2026 ranged from US$15.2 billion in January to US$49.7 billion in June. For the whole of 2025 the surplus was US$123.1 billion, up from US$100.0 billion in 2024. The current account adds trade in goods and services to income flows with the rest of the world; monthly values are revised as more data arrive.

Official sources: Bank of Korea: ECOS statistics database

Is South Korean industrial production growing?

South Korea's all-industry production index fell 1.3% in August 2026 from July, seasonally adjusted, according to the Ministry of Data and Statistics' Monthly Industrial Statistics, released 30 September 2026. Manufacturing output fell 5.1% on the month, while services rose 0.5% and construction 1.9%.

Compared with August 2025, all-industry production was 1.9% higher, with services up 4.6% and manufacturing down 2.4% (not seasonally adjusted). June had seen a 7.2% monthly jump in manufacturing. Monthly figures are preliminary and can swing, so the trend across several months gives a steadier reading.

Official sources: Ministry of Data and Statistics: Monthly Industrial Statistics, August 2026

Are South Korean retail sales growing?

South Korea's retail sales index fell 1.8% in August 2026 from July, seasonally adjusted, and was 0.3% lower than in August 2025, according to the Ministry of Data and Statistics' Monthly Industrial Statistics.

The retail sales index measures the volume of goods sold, so it removes the effect of price changes. It had risen 2.7% in June before falling 2.6% in July. Spending on services is not included; it is tracked in the index of services production in the same release, which rose 0.5% in August.

Official sources: Ministry of Data and Statistics: Monthly Industrial Statistics, August 2026

What is South Korea's income per person?

South Korea's gross national income per person was US$36,855 in 2025, a preliminary figure, according to the Ministry of Data and Statistics' Social Indicators in 2025, published 31 March 2026. Nominal GDP was 2,663.3 trillion won.

Gross national income adds income earned abroad by residents to GDP and subtracts income paid to non-residents. The dollar figure depends on the won exchange rate as well as on economic growth, so it can change even when output in won terms is steady. The release reports that all three indicators rose from the year before.

Official sources: Ministry of Data and Statistics: Social Indicators in 2025

What is South Korea's economic growth rate?

In 2025, real GDP growth in South Korea was 1.0%, according to the World Bank. Since 2005 it has ranged from -0.7% (2020) to 7.0% (2010). It is 26th highest of 29 in East Asia & Pacific, where the median is 3.6%. Of 180 countries with 2025 data, 154th highest.

What is GDP per capita in South Korea?

$36,227: that is GDP per person in South Korea for 2025, according to the World Bank. Since 2005 it has ranged from $19,937 (2009) to $37,518 (2021). It is 4th highest of 29 in East Asia & Pacific, where the median is $6,547. Of 180 countries with 2025 data, 28th highest.

How does South Korea's income per person compare after prices?

According to the World Bank, GDP per person at purchasing power parity in South Korea was $63,125 in international dollars in 2025. That is the highest since at least 2005. East Asia & Pacific median: $14,200 in international dollars; South Korea is 4th highest of 29. Of 179 countries with 2025 data, 27th highest.

How big are South Korea's exports?

The latest figure from the World Bank, for 2025, is 45.8% of GDP. Since 2005 it has ranged from 34.1% of GDP (2005) to 52.0% of GDP (2012). It is 9th highest of 16 in East Asia & Pacific, where the median is 53.8% of GDP. World rank, highest first: 43rd of 133.

Does South Korea earn more abroad than it spends?

The IMF puts the current account balance in South Korea at 6.6% of GDP in 2025. The peak was 6.8% of GDP in 2015 and the low 0.2% of GDP in 2008. It is 5th highest of 19 in East Asia & Pacific, where the median is 1.6% of GDP. Worldwide: 15th of 132.

How much foreign direct investment goes into South Korea?

0.8% of GDP: that is net inflows of foreign direct investment in South Korea for 2025, according to the IMF. The peak was 1.4% of GDP in 2005 and the low 0.3% of GDP in 2015. East Asia & Pacific median: 1.9% of GDP; South Korea is 22nd highest of 28. Of 179 countries with 2025 data, 134th highest.

What are bank lending rates in South Korea?

The IMF puts the average bank lending rate in South Korea at 4.2% in 2025. The peak was 7.2% in 2008 and the low 2.8% in 2020. Across East Asia & Pacific the middle value was 6.5%, and South Korea placed 9th highest of 10. Of 73 countries with 2025 data, 70th highest.