The Gross Domestic Product (GDP) in South Korea was worth 1712.79 billion US dollars in 2023, according to official data from the World Bank. The GDP value of South Korea represents 1.62 percent of the world economy. This dataset provides - South Korea GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The statistic shows gross domestic product (GDP) of South Korea from 1987 to 2024, with projections up until 2029. GDP or gross domestic product is the sum of all goods and services produced in a country in a year; it is a strong indicator of economic strength. In 2024, South Korea's GDP was around 1.87 trillion U.S. dollars. See global GDP for a global comparison. South Korea’s economy South Korea is doing quite well economically. It is among the leading export countries worldwide, it mainly exports electronics, automobiles and machinery. South Korea is also one of the leading import countries worldwide. Additionally, it is one of the leading countries with the largest proportion of global domestic product / GDP based on Purchasing Power Parity (PPP). Its GDP has been increasing for the last few years, while the gross domestic product / GDP growth in South Korea has not been steady but increasing since 2009. South Korea is an OECD member and a member of the G20 states. Among the latter, its GDP growth was higher than that of the United States or the European Union in 2013. South Korea is one of the fastest-growing economies worldwide. Its standard of living is also considered to be quite high, the unemployment rate, which is one key factor, has been at around 3 percent, give or take a few percentage points, for the past decade. As a comparison, the United States’ unemployment rate was almost twice, sometimes three times as high as in South Korea during the same period. As for employment, South Korea’s rate is almost the same as that of the United States or France, with more than 60 percent of employed persons in the population.

The Gross Domestic Product per capita in South Korea was last recorded at 34121.02 US dollars in 2023. The GDP per Capita in South Korea is equivalent to 270 percent of the world's average. This dataset provides - South Korea GDP per capita - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Gross Domestic Product (GDP) in South Korea expanded 0.70 percent in the second quarter of 2025 over the previous quarter. This dataset provides - South Korea GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Gross Domestic Product (GDP) in South Korea expanded 0.60 percent in the second quarter of 2025 over the same quarter of the previous year. This dataset provides - South Korea GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The gross domestic product (GDP) per capita in South Korea was forecast to continuously increase between 2024 and 2030 by in total 5,762.76 U.S. dollars (+15.95 percent). After the seventh consecutive increasing year, the GDP per capita is estimated to reach 41,891.75 U.S. dollars and therefore a new peak in 2030. This indicator describes the gross domestic product per capita at current prices. Thereby the gross domestic product was first converted from national currency to U.S. dollars at current exchange prices and then divided by the total population. The gross domestic products is a measure of a country's productivity. It refers to the total value of goods and service produced during a given time period (here a year).Find more key insights for the gross domestic product (GDP) per capita in countries like Mongolia, Japan, and Taiwan.

South Korea Gross Domestic Product (GDP) data was reported at 666,270.700 KRW bn in Dec 2024. This records an increase from the previous number of 641,917.700 KRW bn for Sep 2024. South Korea Gross Domestic Product (GDP) data is updated quarterly, averaging 69,938.350 KRW bn from Mar 1960 (Median) to Dec 2024, with 260 observations. The data reached an all-time high of 666,270.700 KRW bn in Dec 2024 and a record low of 48.910 KRW bn in Mar 1960. South Korea Gross Domestic Product (GDP) data remains active status in CEIC and is reported by The Bank of Korea. The data is categorized under Global Database’s South Korea – Table KR.A001: SNA08: GDP: by Expenditure: Current Price.

As of May 2024, real gross domestic product (GDP) growth in South Korea was forecasted at *** percent for 2024 and *** percent for 2025. The coronavirus (COVID-19) adversely affected the South Korean economy, which, however, quickly recovered as early as 2021.

Graph and download economic data for Gross Domestic Product for Republic of Korea (MKTGDPKRA646NWDB) from 1960 to 2023 about Korea and GDP.

GDP Constant Prices in South Korea increased to 575918.30 KRW Billion in the second quarter of 2025 from 572057.70 KRW Billion in the first quarter of 2025. This dataset provides - South Korea GDP Constant Prices - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Gross Domestic Product per capita in South Korea was last recorded at 49995.49 US dollars in 2023, when adjusted by purchasing power parity (PPP). The GDP per Capita, in South Korea, when adjusted by Purchasing Power Parity is equivalent to 281 percent of the world's average. This dataset provides the latest reported value for - South Korea GDP per capita PPP - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

South Korea Potential(GDP) Gross Domestic ProductGrowth: Volume data was reported at 1.978 % in 2026. This records a decrease from the previous number of 2.025 % for 2025. South Korea Potential(GDP) Gross Domestic ProductGrowth: Volume data is updated yearly, averaging 4.421 % from Dec 1986 (Median) to 2026, with 41 observations. The data reached an all-time high of 9.644 % in 1990 and a record low of 1.978 % in 2026. South Korea Potential(GDP) Gross Domestic ProductGrowth: Volume data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s South Korea – Table KR.OECD.EO: GDP: Potential Output and Output Gap: Forecast: OECD Member: Annual. GDPVTR_ANNPCT - Potential output, volume, growth. Percentage change compared to the previous period. Quarterly growth expressed at annual rate.

GDP from Services in South Korea increased to 334600.10 KRW Billion in the second quarter of 2025 from 331842.40 KRW Billion in the first quarter of 2025. This dataset provides the latest reported value for - South Korea Gdp From Services - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

In 2023, the service sector accounted for about ** percent of South Korea's gross domestic product (GDP), while manufacturing contributed about **** percent. After the Korean War (1950-1953), South Korea achieved impressive economic growth based largely on the contribution of the manufacturing sector.

In 2023, South Korea's nominal gross domestic product (GDP) reached approximately ***** trillion South Korean won, while North Korea's amounted to about **** trillion South Korean won. Consequently, South Korea's nominal GDP was approximately ** times larger than that of North Korea during that year. Moreover, North Korea's GDP growth has been notably slower than that of South Korea.North Korea's economic development North Korea's economy is centered around its capital city and military, with particular emphasis on the expansion of its nuclear capabilities in recent decades. Roughly ** percent of foreign trade has been with China in the past decade, from which it imports mainly intermediate goods and raw materials. Food shortages, exacerbated by the COVID-19 pandemic, are a recurring issue for North Korea, as poor harvests, international sanctions, and a downturn in inter-Korean trade have created sourcing problems. The full extent of this issue remains unknown, but it is estimated that almost **** the population is undernourished. Kaesong Industrial ComplexThe Kaesong Industrial Complex project began in 2000 and was a crucial part of South Korea's efforts to improve relations with North Korea. It aimed to foster cooperation between the two Koreas and promote stability in the region. The industrial park, located in Kaesong, North Korea, was intended to provide a platform for small and medium-sized South Korean companies. South Korea would provide the necessary capital and infrastructure, while North Korean workers would be tasked with manufacturing products, aiming to stimulate economic growth on both sides of the border. Unfortunately, the complex was affected by tensions between the two Koreas and shut down in 2016. It has not been reopened since.

The latest data from show economic growth of 0.6 percent, which is an increase from the rate of growth of 0 percent in the previous quarter and
a decrease compared to the growth rate of 2.2 percent in the same quarter last year. The economic growth time series for South Korea cover the period...

GDP, billion currency units in South Korea, June, 2025 The most recent value is 657836.9 billion South Korean Won as of Q2 2025, an increase compared to the previous value of 622771.1 billion South Korean Won. Historically, the average for South Korea from Q1 1960 to Q2 2025 is 165625.5 billion South Korean Won. The minimum of 49.06 billion South Korean Won was recorded in Q1 1960, while the maximum of 668933.8 billion South Korean Won was reached in Q4 2024. | TheGlobalEconomy.com

Key information about South Korea Real GDP Growth

• The Gross Domestic Product (GDP) in South Korea expanded 1.3 % YoY in Dec 2022, following a growth of 3.1 % in the previous quarter.
• Real GDP Growth YoY data in South Korea is updated quarterly, available from Mar 1961 to Dec 2022, with an average rate of 7.1 %.
• The data reached an all-time high of 19.9 % in Dec 1969 and a record low of -7.3 % in Jun 1998.

• In the latest reports, Nominal GDP of South Korea reached 396.4 USD bn in Dec 2022.
• Its GDP deflator (implicit price deflator) increased 0.4 % in Dec 2022.
• GDP Per Capita in South Korea reached 32,236.8 USD in Dec 2022.
• Its Gross Savings Rate was measured at 34.0 % in Dec 2022.
• For Nominal GDP contributions, Investment accounted for 34.9 % in Dec 2022.
• Public Consumption accounted for 18.4 % in Dec 2022.
• Private Consumption accounted for 49.0 % in Dec 2022.

The Gross Domestic Product (GDP) in North Korea was worth 18 billion US dollars in 2019, according to official data from the World Bank. The GDP value of North Korea represents 0.02 percent of the world economy. This dataset provides - North Korea GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

South Korea: Exports of goods and services as percent of GDP: The latest value from 2023 is 44 percent, a decline from 48.27 percent in 2022. In comparison, the world average is 45.02 percent, based on data from 162 countries. Historically, the average for South Korea from 1960 to 2023 is 28.69 percent. The minimum value, 2.64 percent, was reached in 1960 while the maximum of 54.09 percent was recorded in 2012.