Korea Imports: Low- and Middle-Income Economies: % of Total Goods Imports: Latin America & The Caribbean data was reported at 2.673 % in 2016. This records an increase from the previous number of 2.543 % for 2015. Korea Imports: Low- and Middle-Income Economies: % of Total Goods Imports: Latin America & The Caribbean data is updated yearly, averaging 1.896 % from Dec 1961 (Median) to 2016, with 56 observations. The data reached an all-time high of 5.491 % in 1985 and a record low of 0.012 % in 1972. Korea Imports: Low- and Middle-Income Economies: % of Total Goods Imports: Latin America & The Caribbean data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Korea – Table KR.World Bank: Imports. Merchandise imports from low- and middle-income economies in Latin America and the Caribbean are the sum of merchandise imports by the reporting economy from low- and middle-income economies in the Latin America and the Caribbean region according to the World Bank classification of economies. Data are expressed as a percentage of total merchandise imports by the economy. Data are computed only if at least half of the economies in the partner country group had non-missing data.; ; World Bank staff estimates based data from International Monetary Fund's Direction of Trade database.; Weighted average;

In 2023, the median household disposable income in South Korea amounted to around ***** million South Korean won, showing a steady increase over the past few years. The median disposable income of South Korean households has steadily increased over the past few years.

Korea Imports: Low- and Middle-Income Economies: % of Total Goods Imports: Outside Region data was reported at 40.835 % in 2016. This records an increase from the previous number of 39.635 % for 2015. Korea Imports: Low- and Middle-Income Economies: % of Total Goods Imports: Outside Region data is updated yearly, averaging 13.128 % from Dec 1960 (Median) to 2016, with 57 observations. The data reached an all-time high of 40.835 % in 2016 and a record low of 2.922 % in 1964. Korea Imports: Low- and Middle-Income Economies: % of Total Goods Imports: Outside Region data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s South Korea – Table KR.World Bank.WDI: Imports. Merchandise imports from low- and middle-income economies outside region are the sum of merchandise imports by the reporting economy from other low- and middle-income economies in other World Bank regions according to the World Bank classification of economies. Data are expressed as a percentage of total merchandise imports by the economy. Data are computed only if at least half of the economies in the partner country group had non-missing data.; ; World Bank staff estimates based data from International Monetary Fund's Direction of Trade database.; Weighted average;

As of the third quarter of 2024, the share of household loans by middle-income borrowers stood at **** percent. It was a slight decrease compared to the previous year in 2023. Household debt in South Korea has steadily increased yearly since 2009.

Korea Imports: Low- and Middle-Income Economies: % of Total Goods Imports: Europe & Central Asia data was reported at 2.697 % in 2016. This records a decrease from the previous number of 3.213 % for 2015. Korea Imports: Low- and Middle-Income Economies: % of Total Goods Imports: Europe & Central Asia data is updated yearly, averaging 1.577 % from Dec 1967 (Median) to 2016, with 43 observations. The data reached an all-time high of 3.565 % in 2014 and a record low of 0.005 % in 1984. Korea Imports: Low- and Middle-Income Economies: % of Total Goods Imports: Europe & Central Asia data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s South Korea – Table KR.World Bank.WDI: Imports. Merchandise imports from low- and middle-income economies in Europe and Central Asia are the sum of merchandise imports by the reporting economy from low- and middle-income economies in the Europe and Central Asia region according to the World Bank classification of economies. Data are expressed as a percentage of total merchandise imports by the economy. Data are computed only if at least half of the economies in the partner country group had non-missing data.; ; World Bank staff estimates based data from International Monetary Fund's Direction of Trade database.; Weighted average;

Korea Imports: Low- and Middle-Income Economies: % of Total Goods Imports: Sub-Saharan Africa data was reported at 1.118 % in 2016. This records a decrease from the previous number of 1.283 % for 2015. Korea Imports: Low- and Middle-Income Economies: % of Total Goods Imports: Sub-Saharan Africa data is updated yearly, averaging 0.873 % from Dec 1960 (Median) to 2016, with 56 observations. The data reached an all-time high of 3.092 % in 1997 and a record low of 0.018 % in 1963. Korea Imports: Low- and Middle-Income Economies: % of Total Goods Imports: Sub-Saharan Africa data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s South Korea – Table KR.World Bank.WDI: Imports. Merchandise imports from low- and middle-income economies in Sub-Saharan Africa are the sum of merchandise imports by the reporting economy from low- and middle-income economies in the Sub-Saharan Africa region according to the World Bank classification of economies. Data are expressed as a percentage of total merchandise imports by the economy. Data are computed only if at least half of the economies in the partner country group had non-missing data.; ; World Bank staff estimates based data from International Monetary Fund's Direction of Trade database.; Weighted average;

In 2023, the average annual wage in South Korea fell to 47,715 U.S. dollars after adjusting for purchasing power parity (PPP). The average salary in South Korea showed a general trend of positive growth within the given period. The monthly wage was projected to reach over 5,400 U.S. dollars in 2040, the highest value among the surveyed countries. Work-life balance South Korea has some of the longest working hours in the world. Although working hours in the country have decreased over the past decade, measures such as flexible working hours have been implemented to promote a better work-life balance. Nevertheless, South Korea still ranks among the top five countries with the longest working hours in the Organization for Economic Cooperation and Development (OECD). Many South Koreans tend to prefer working for a company that offers a good work-life balance rather than a company that offers a higher salary. This preference is especially strong among parents. Women in the job market While the employment rate of South Korean women has increased steadily over the past decade, the gender pay gap persists. On average, female workers earned about 65 percent of their male counterparts’ income. The average monthly salary in South Korea was around 4.26 million South Korean won for men and about 2.78 million won for women that year.

Merchandise imports from low- and middle-income economies outside region (% of total merchandise imports) in South Korea was reported at 8.6672 % in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. South Korea - Merchandise imports from developing economies outside region (% of total merchandise imports) - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

Merchandise imports from low- and middle-income economies in Europe & Central Asia (% of total merchandise imports) in South Korea was reported at 0.98161 % in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. South Korea - Merchandise imports from developing economies in Europe & Central Asia (% of total merchandise imports) - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

Merchandise exports to low- and middle-income economies in Middle East & North Africa (% of total merchandise exports) in South Korea was reported at 0.81029 % in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. South Korea - Merchandise exports to developing economies in Middle East & North Africa (% of total merchandise exports) - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

According to a survey conducted in South Korea in May 2025, about ** percent of respondents who considered their living standards to be lower-middle class supported the Democratic Party. In contrast, about ** percent of respondents with high or upper-middle living standards supported the People Power Party.

Merchandise exports to low- and middle-income economies in Europe & Central Asia (% of total merchandise exports) in South Korea was reported at 2.5372 % in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. South Korea - Merchandise exports to developing economies in Europe & Central Asia (% of total merchandise exports) - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

Merchandise exports to low- and middle-income economies in Latin America & the Caribbean (% of total merchandise exports) in South Korea was reported at 3.31 % in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. South Korea - Merchandise exports to developing economies in Latin America & the Caribbean (% of total merchandise exports) - actual values, historical data, forecasts and projections were sourced from the World Bank on August of 2025.

Prevalence of irregular menstruation according to demographic and health-related characteristics, and socioeconomic status (N = 4,709).

In 2024, the average number of students per class in South Korean middle schools was **** students. The student numbers have been declining over the past few decades.

Korea Exports: Low- and Middle-Income Economies: % of Total Goods Exports: Middle East & North Africa data was reported at 2.152 % in 2016. This records an increase from the previous number of 2.057 % for 2015. Korea Exports: Low- and Middle-Income Economies: % of Total Goods Exports: Middle East & North Africa data is updated yearly, averaging 1.775 % from Dec 1964 (Median) to 2016, with 53 observations. The data reached an all-time high of 3.825 % in 1981 and a record low of 0.352 % in 1968. Korea Exports: Low- and Middle-Income Economies: % of Total Goods Exports: Middle East & North Africa data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Korea – Table KR.World Bank: Exports. Merchandise exports to low- and middle-income economies in Middle East and North Africa are the sum of merchandise exports from the reporting economy to low- and middle-income economies in the Middle East and North Africa region according to World Bank classification of economies. Data are as a percentage of total merchandise exports by the economy. Data are computed only if at least half of the economies in the partner country group had non-missing data.; ; World Bank staff estimates based data from International Monetary Fund's Direction of Trade database.; Weighted average;

As the third quarter of 2024, high-income borrowers made up the majority of household loans at around ** percent. Middle-income borrowers came second at **** percent of household loans for the same period.

Korea Income Share Held by Highest 10% data was reported at 23.800 % in 2012. This records a decrease from the previous number of 24.200 % for 2010. Korea Income Share Held by Highest 10% data is updated yearly, averaging 24.100 % from Dec 2006 (Median) to 2012, with 4 observations. The data reached an all-time high of 24.500 % in 2008 and a record low of 23.800 % in 2012. Korea Income Share Held by Highest 10% data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s South Korea – Table KR.World Bank.WDI: Poverty. Percentage share of income or consumption is the share that accrues to subgroups of population indicated by deciles or quintiles.; ; World Bank, Development Research Group. Data are based on primary household survey data obtained from government statistical agencies and World Bank country departments. Data for high-income economies are from the Luxembourg Income Study database. For more information and methodology, please see PovcalNet (http://iresearch.worldbank.org/PovcalNet/index.htm).; ; The World Bank’s internationally comparable poverty monitoring database now draws on income or detailed consumption data from more than one thousand six hundred household surveys across 164 countries in six regions and 25 other high income countries (industrialized economies). While income distribution data are published for all countries with data available, poverty data are published for low- and middle-income countries and countries eligible to receive loans from the World Bank (such as Chile) and recently graduated countries (such as Estonia) only. See PovcalNet (http://iresearch.worldbank.org/PovcalNet/WhatIsNew.aspx) for definitions of geographical regions and industrialized countries.

According to a survey conducted in South Korea in 2023, around ** percent of people with disabilities stated that they felt there were lower middle class. A further ** percent categorized themselves as belonging to the lower class.

Smart Home Appliances Market Outlook

The global smart home appliances market size was valued at approximately USD 38 billion in 2023 and is projected to reach nearly USD 150 billion by 2032, growing at a remarkable CAGR of 16.5% during the forecast period. The substantial growth in this market is fueled by the increasing adoption of Internet of Things (IoT) technologies, rising consumer awareness about energy efficiency, and the growing trend towards home automation. The continuous advancements in technology, coupled with a rise in disposable income, are also key drivers contributing to the market's rapid expansion.

The proliferation of smart home devices can be attributed to the technological advancements in IoT and artificial intelligence (AI), which are making these appliances more intuitive, efficient, and user-friendly. With smart home appliances, consumers can control and monitor their home devices remotely, leading to increased convenience and energy savings. This enhanced connectivity and control is appealing to the tech-savvy consumer, driving the demand for smart home appliances across the globe. Additionally, the integration of voice control features, such as compatibility with Amazon Alexa and Google Assistant, is further propelling market growth.

Energy efficiency is another crucial growth factor in the smart home appliances market. With growing concerns over environmental sustainability and rising energy costs, consumers are increasingly seeking energy-efficient solutions. Smart appliances not only promise to reduce electricity consumption but also offer the convenience of monitoring energy usage in real time. Governments worldwide are also promoting energy-efficient appliances through subsidies and incentives, which is encouraging consumers to switch to smart home appliances. Moreover, the development of smart grids is expected to further enhance the energy efficiency of these appliances.

The increasing urbanization and growth in the construction of smart homes are also significant contributors to the market's growth. As urban areas expand and the number of smart homes increases, the need for connected home appliances rises. Developers and homeowners are investing more in advanced home automation systems that integrate seamlessly with smart appliances, thereby boosting the demand. Additionally, the rising disposable income, especially in emerging economies, is enabling more consumers to afford these high-tech appliances, further driving market growth.

Regionally, North America and Europe are leading the market, owing to the high adoption rate of smart technologies and significant investments in home automation. However, the Asia Pacific region is expected to witness the highest growth rate during the forecast period. The increasing urban population, rising disposable incomes, and a growing tech-savvy middle class are some of the factors driving the market in this region. China, Japan, and South Korea are major contributors to this growth, with significant investments in smart home technologies and infrastructure development.

Product Type Analysis

The smart home appliances market is segmented by product type into smart refrigerators, smart washing machines, smart air conditioners, smart ovens, smart dishwashers, and others. Smart refrigerators are among the most popular products in this category, owing to their advanced features such as touchscreens, cameras to view the inside contents without opening the door, and connectivity with smartphones for remote monitoring and control. These features not only offer convenience but also help in reducing food waste by providing timely alerts about expiry dates and suggesting recipes based on available ingredients.

Smart washing machines are another significant segment in the smart home appliances market. These machines offer features like remote monitoring and control, energy-efficient cycles, and automatic detergent dispensing. They can be controlled via smartphone apps, allowing users to start or stop the machine, check the cycle status, and receive alerts when the laundry is done. The growing awareness about water conservation and energy efficiency is driving the demand for smart washing machines, as they consume less water and electricity compared to traditional models.

Smart air conditioners are gaining popularity due to their ability to provide comfort while being energy-efficient. These air conditioners can be controlled remotely, allowing users to adjust the temperature and set schedules to optimize energy usage. They also come with features like air