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.

Key information about South Korea GDP Per Capita

• South Korea Gross Domestic Product (GDP) per Capita reached 36,113.000 USD in Dec 2024, compared with 35,569.900 USD in Dec 2023.
• South Korea GDP Per Capita data is updated yearly, available from Dec 1953 to Dec 2024, with an average number of 5,442.300 USD.
• The data reached an all-time high of 37,503.100 USD in Dec 2021 and a record low of 64.230 in Dec 1955.

Related information about South Korea GDP Per Capita data

• In the latest reports, South Korea GDP expanded 1.012 % YoY in Mar 2023.
• South Korea Nominal GDP reached 429.247 USD bn in Mar 2023.
• Its GDP deflator (implicit price deflator) increased 1.394 % in Mar 2023.
• Gross Savings Rate of South Korea was measured at 29.857 % in Mar 2023.

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.

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.

GDP per capita (constant 2015 US$) in South Korea was reported at 34121 USD in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. South Korea - GDP per capita (constant 2000 US$) - actual values, historical data, forecasts and projections were sourced from the World Bank on June of 2025.

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.

Key information about South Korea Private Consumption: % of GDP

• South Korea Private Consumption accounted for 47.7 % of its Nominal GDP in Dec 2024, compared with a ratio of 48.5 % in the previous quarter.
• South Korea Private Consumption contribution to Nominal GDP ratio is updated quarterly, available from Mar 1960 to Dec 2024, with an average share of 54.3 %.
• The data reached an all-time high of 116.4 % in Mar 1964 and a record low of 46.4 % in Dec 2020.

CEIC calculates Private Consumption as % of Nominal GDP from quarterly Private Consumption Expenditure and quarterly Nominal GDP. The Bank of Korea provides Private Consumption Expenditure in local currency and Nominal GDP in local currency.


Related information about South Korea Private Consumption: % of GDP

• In the latest reports, South Korea GDP expanded 1.0 % YoY in Mar 2023.
• Its Nominal GDP reached 429.2 USD bn in Mar 2023.
• South Korea GDP Per Capita reached 36,113.0 USD in Dec 2024.
• Its Gross Savings Rate was measured at 29.9 % in Mar 2023.

GDP per capita (current LCU) in South Korea was reported at 43245332 LCU in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. South Korea - GDP per capita (current LCU) - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

South Korea Ref. Year = 2015: Real Gross Domestic Product (GDP): Per Capita: PPP: USD data was reported at 0.000 USD bn in 2025. This records an increase from the previous number of 0.000 USD bn for 2024. South Korea Ref. Year = 2015: Real Gross Domestic Product (GDP): Per Capita: PPP: USD data is updated yearly, averaging 0.000 USD bn from Dec 1970 (Median) to 2025, with 56 observations. The data reached an all-time high of 0.000 USD bn in 2025 and a record low of 0.000 USD bn in 1970. South Korea Ref. Year = 2015: Real Gross Domestic Product (GDP): Per Capita: PPP: USD 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: Per Capita: Forecast: OECD Member: Annual. GDPVD_CAP - Gross domestic product per capital volume, at constant purchasing power parities 2015 PPPs OECD calculation, see OECD Economic Outlook database documentation

Key information about South Korea Household Income per Capita

• South Korea Annual Household Income per Capita reached 19,208.928 USD in Dec 2024, compared with the previous value of 19,230.954 USD in Dec 2023.
• South Korea Annual Household Income per Capita data is updated yearly, available from Dec 2003 to Dec 2024, with an averaged value of 14,290.376 USD.
• The data reached an all-time high of 19,230.954 USD in Dec 2023 and a record low of 7,685.194 USD in Dec 2003.
• In the latest reports, Retail Sales of South Korea dropped 0.473 % YoY in May 2023.

CEIC calculates Annual Household Income per Capita from quarterly Monthly Household Income multiplied by 3 and quarterly Average Household Size and converts it into USD. Statistics Korea provides Household Income in local currency and Average Household Size. Federal Reserve Board average market exchange rate is used for currency conversions. Household Income excludes single person and farm households. Household Income per Capita prior to 2019 is based on old methodology.

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.

Key information about South Korea Public Consumption: % of GDP

• South Korea Public Consumption accounted for 16.4 % of its Nominal GDP in Dec 2024, compared with a share of 16.6 % in the previous quarter.
• South Korea Public Consumption share of Nominal GDP ratio is updated quarterly, available from Mar 1960 to Dec 2024, with an average number of 11.4 %.
• The data reached an all-time high of 19.4 % in Mar 2023 and a record low of 7.2 % in Dec 1964.

CEIC calculates Government Consumption as % of Nominal GDP from quarterly Government Consumption Expenditure and quarterly Nominal GDP. The Bank of Korea provides Government Consumption Expenditure in local currency and Nominal GDP in local currency.


Related information about South Korea Public Consumption: % of GDP

• In the latest reports, South Korea GDP expanded 1.0 % YoY in Mar 2023.
• South Korea Nominal GDP reached 429.2 USD bn in Mar 2023.
• Its GDP deflator (implicit price deflator) increased 1.4 % in Mar 2023.
• South Korea GDP Per Capita reached 36,113.0 USD in Dec 2024.
• Its Gross Savings Rate was measured at 29.9 % in Mar 2023.
• For Nominal GDP contributions, Investment accounted for 30.9 % in Dec 2024.
• Private Consumption accounted for 47.7 % in Dec 2024.

GDP per capita, PPP (current international $) in South Korea was reported at 52204 USD in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. South Korea - GDP per capita, PPP (current international $) - actual values, historical data, forecasts and projections were sourced from the World Bank on June of 2025.

South Korea GDP for 2023 was 1.713 trillion US dollars, a 2.32% increase from 2022.

<ul style='margin-top:20px;'>

<li>South Korea GDP for 2022 was <strong>1.674 trillion US dollars</strong>, a <strong>7.95% decline</strong> from 2021.</li>
<li>South Korea GDP for 2021 was <strong>1.818 trillion US dollars</strong>, a <strong>10.59% increase</strong> from 2020.</li>
<li>South Korea GDP for 2020 was <strong>1.644 trillion US dollars</strong>, a <strong>0.43% decline</strong> from 2019.</li>
</ul>GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.

In 2023, Seoul's gross regional domestic product (GRDP) per capita amounted to about 58 million South Korean won, up from about 56 million won in the previous year. The GRDP per capita in Seoul has shown steady growth over the past few years.

In 2023, services contributed around 58.42 percent to South Korea's gross domestic product (GDP), while 31.59 percent came from South Korea’s industry sector, and a little less than two percent of South Korea’s GDP was generated by the country’s agriculture sector. South Korea’s services sector employed over 70 percent of the South Koreans workforce in 2018 . South Korea’s workforce Much of the over 51 million inhabitants of South Korea are employed, and the unemployment rate is expected to remain under four percent through 2024. South Korea is experiencing the effects of an aging labor force, with a decrease in population share of people entering the work force, and a simultaneous increase of the number of those aged 65 years and above. Despite that, the country’s economy has remained a powerhouse, growing at around 2.5 percent from 2018 to 2019. The South Korean economy South Korea is known as an economic success story; it rose from one of the poorest countries before the 1960’s to a developed country with a high income level. Overall, South Korea’s total GDP was estimated to be approximately 1.7 trillion U.S. dollars in 2019, and is expected to continue to increase through 2024. South Korea is considered to be one of the core economies driving the next generation of economic growth, alongside the BRIC countries (Brazil, Russia, India, and China).

In 2024, South Korea's gross national income (GNI) increased by 3.5 percent year-on-year. Real per capita GNI that year amounted to around 43 million South Korean won, showing an increase compared to the previous year.

Key information about South Korea Investment: % of GDP

• South Korea Investment accounted for 30.9 % of its Nominal GDP in Dec 2024, compared with a ratio of 31.1 % in the previous quarter.
• South Korea investment share of Nominal GDP data is updated quarterly, available from Mar 1960 to Dec 2024, with an average ratio of 32.0 %.
• The data reached an all-time high of 43.3 % in Jun 1979 and a record low of -19.1 % in Mar 1964.

CEIC calculates Investment as % of Nominal GDP from quarterly Nominal Gross Capital Formation and quarterly Nominal GDP. The Bank of Korea provides Nominal Gross Capital Formation in local currency and Nominal GDP in local currency.


Related information about South Korea Investment: % of GDP

• In the latest reports, South Korea GDP expanded 1.0 % YoY in Mar 2023.
• South Korea Nominal GDP reached 429.2 USD bn in Mar 2023.
• Its GDP deflator (implicit price deflator) increased 1.4 % in Mar 2023.
• South Korea GDP Per Capita reached 36,113.0 USD in Dec 2024.
• Its Gross Savings Rate was measured at 29.9 % in Mar 2023.

Gross Domestic Product Per Capita data was reported at 4,925.700 KRW tt in 2024. This records an increase from the previous number of 4,643.300 KRW tt for 2023. Gross Domestic Product Per Capita data is updated yearly, averaging 379.850 KRW tt from Dec 1953 (Median) to 2024, with 72 observations. The data reached an all-time high of 4,925.700 KRW tt in 2024 and a record low of 0.230 KRW tt in 1953. Gross Domestic Product Per Capita 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.A003: SNA08: GDP: by Expenditure: Current Price: Annual.

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.