The industry and the Korean economy

General presentation of the korean economy

Member of the Least Developed Countries (LDCs) in 1960, Korea has been part, since 2018, of the countries - United States, Japan, United Kingdom, Germany, Italy and France - populated by more than 50 million inhabitants and having GDP per capita greater than USD 30,000 in current dollars. A member of the OECD and the G20, Korea was in 2018 the 11th or 12th world economy and the 5th world exporter (605 billion USD). Penalized by weak investment and exports, Korean growth could fall below 2% in 2019, a decline that highlights the need for the government to promote the renewal of the current Korean growth model.


  • Local Currency: South Korean Won (KRW)
  • Level of development: High-income country, Member of the OECD, Emerging financial market, An export-oriented model of economy
  • GDP (billion USD): 1,626.55 (Source: IMF - World Economic Outlook Database, 2020)
  • GDP per capita (USD): 31,246 (Source: IMF - World Economic Outlook Database, 2020)
  • Unemployment rate: 4.5% (Source: IMF - World Economic Outlook Database, 2020)
  • Inflation rate: 0.3% (Source: IMF - World Economic Outlook Database, 2020)

Korean industrial sectors in a few charts:

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