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 the growth of the real gross domestic product (GDP) in South Korea from 1954 to 2024, with projections up until 2030. GDP is the total value of all goods and services produced in a country in a year. It is considered to be a very important indicator of the economic strength of a country and a change in it is a sign of economic growth. In 2024, the real GDP in South Korea grew by about 2.0 percent compared to the previous year.

The Gross Domestic Product (GDP) in South Korea expanded 1.30 percent in the third 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 1.70 percent in the third 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 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) per capita in South Korea stood at 36,240 U.S. dollars in 2024. From 1980 to 2024, the GDP per capita rose by 34,500 U.S. dollars, though the increase followed an uneven trajectory rather than a consistent upward trend. Between 2024 and 2030, the GDP per capita will rise by 8,020 U.S. dollars, showing an overall upward trend with periodic ups and downs.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 rates and then divided by the total population. The gross domestic product 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).

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 171131.77 billion South Korean Won. The minimum of 49.09 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 GDP Per Capita

• South Korea Gross Domestic Product (GDP) per Capita reached 36,222.600 USD in Dec 2024, compared with 35,681.000 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 5.500 USD.
• The data reached an all-time high of 5.500 USD in Dec 2025 and a record low of 5.500 in Dec 2025.

Related information about South Korea GDP Per Capita data

• In the latest reports, South Korea GDP expanded 1.705 % YoY in Sep 2025.
• South Korea Nominal GDP reached 471.908 USD bn in Jun 2025.
• Its GDP deflator (implicit price deflator) increased 2.803 % in Jun 2025.
• Gross Savings Rate of South Korea was measured at 35.242 % in Jun 2025.

In the fourth quarter of 2024, South Korea's real gross domestic product (GDP) increased by *** percent year-on-year. South Korea's economy recorded negative growth following the outbreak of the COVID-19 pandemic but recovered quickly thereafter.

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).

Quarterly dataset of the South Korea GDP Growth Rate (YoY), including historical data, latest releases, and long-term trends from 1961-03-31 to 2025-09-30. Available for free download in CSV format.

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.

South Korea: Gross Domestic Product, billions of 2015 U.S. dollars: The latest value from 2023 is 1764.5 billion U.S. dollars, an increase from 1740.9 billion U.S. dollars in 2022. In comparison, the world average is 493.4 billion U.S. dollars, based on data from 188 countries. Historically, the average for South Korea from 1960 to 2023 is 639.7 billion U.S. dollars. The minimum value, 25.7 billion U.S. dollars, was reached in 1960 while the maximum of 1764.5 billion U.S. dollars was recorded in 2023.

Historical dataset showing South Korea gdp growth rate by year from 1961 to 2023.

In 2023, South Korea's gross domestic product (GDP) grew by about *** percent compared to the previous year. North Korea's GDP growth rate stood at about *** percent that year, achieving positive growth for the first time after experiencing a period of negative growth during the COVID-19 pandemic.

Key information about South Korea Private Consumption: % of GDP

• South Korea Private Consumption accounted for 47.2 % of its Nominal GDP in Jun 2025, compared with a ratio of 50.3 % in the previous quarter.
• South Korea Private Consumption contribution to Nominal GDP ratio is updated quarterly, available from Mar 1960 to Jun 2025, with an average share of 0.0 %.

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 1.7 % YoY in Sep 2025.
• Its Nominal GDP reached 471.9 USD bn in Jun 2025.
• South Korea GDP Per Capita reached 36,222.6 USD in Dec 2024.
• Its Gross Savings Rate was measured at 35.2 % in Jun 2025.

Key information about South Korea Nominal GDP Growth

• South Korea Nominal GDP Growth was reported at 3.424 % in Jun 2025.
• This records an increase from the previous number of 2.159 % for Mar 2025.
• South Korea Nominal GDP Growth data is updated quarterly, averaging 12.013 % from Mar 1961 to Jun 2025, with 258 observations.
• The data reached an all-time high of 49.049 % in Sep 1963 and a record low of -4.749 % in Dec 1998.
• South Korea Nominal GDP Growth data remains active status in CEIC and is reported by CEIC Data.
• The data is categorized under World Trend Plus’s Global Economic Monitor – Table: Nominal GDP: Y-o-Y Growth: Quarterly: Seasonally Adjusted.

CEIC calculates quarterly Nominal GDP Growth from quarterly Nominal GDP. The Bank of Korea provides Nominal GDP in local currency.

Historical dataset showing South Korea GDP per capita by year from 1960 to 2023.

Korea GDP: Growth: Gross Value Added: Services data was reported at 2.443 % in 2016. This records a decrease from the previous number of 2.892 % for 2015. Korea GDP: Growth: Gross Value Added: Services data is updated yearly, averaging 5.918 % from Dec 1971 (Median) to 2016, with 46 observations. The data reached an all-time high of 10.283 % in 1988 and a record low of -3.941 % in 1998. Korea GDP: Growth: Gross Value Added: Services 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: Gross Domestic Product: Annual Growth Rate. Annual growth rate for value added in services based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. Services correspond to ISIC divisions 50-99. They include value added in wholesale and retail trade (including hotels and restaurants), transport, and government, financial, professional, and personal services such as education, health care, and real estate services. Also included are imputed bank service charges, import duties, and any statistical discrepancies noted by national compilers as well as discrepancies arising from rescaling. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The industrial origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted Average; Note: Data for OECD countries are based on ISIC, revision 4.

Korea GDP: Growth:(GDP) Gross Domestic Productper Capita data was reported at 2.621 % in 2017. This records an increase from the previous number of 2.466 % for 2016. Korea GDP: Growth:(GDP) Gross Domestic Productper Capita data is updated yearly, averaging 6.192 % from Dec 1961 (Median) to 2017, with 57 observations. The data reached an all-time high of 12.815 % in 1973 and a record low of -6.151 % in 1998. Korea GDP: Growth:(GDP) Gross Domestic Productper Capita 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: Gross Domestic Product: Annual Growth Rate. Annual percentage growth rate of GDP per capita based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. GDP per capita is gross domestic product divided by midyear population. 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.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted average;