World's 10th largest domestic market : huge consumer base with strong purchasing power and sophisticated taste makes Korea an ideal test market for new technologies and products.
Over half of the Global Fortune 500 firms have already established their business presence in Korea.
Mobile phones 2nd
General machinery 9th
※ Source : Fortune Magazine
Samsung Electronics(19th), Hyundai Motor(84th), SK Holdings(97th),POSCO(194th), LG Electronics(207th), Korea Electric Power(227th),KIA Motor(229th), Hanwha(277th), Hyundai Mobis(385th),KB Financial Group(426th), CJ(437th), GS Caltex(447th),Samsung Life Insurance(467th), Samsung C&T(481st),
※ Source : Bank of Korea
|GDP (USD Bn.)||1,383||1,415||1,531||1,619||1,642|
|Per capita GDP (USD)||27,097||27,607||29,744||31,370||31,431|
|Economic growth rate (%)||2.8||2.9||3.1||2.7||2.0|
|Consumer price index (%)||0.7||1.0||1.9||1.5||0.5|
|Employment rate (%)||65.9||66.1||66.6||66.6||67.1|
|trade volume (USD Mil.)||963,256||901,619||1,052,172||1,140,062||1,045,576|
|Exports (USD Mil.)||Amount||526,757||495,426||573,694||604,860||542,233|
|Imports (USD Mil.)||Amount||436,499||406,193||478,478||535,202||503,343|
|trade balance (USD Mil.)||90,258||89,233||95,216||69,657||38,890|
|FDI (USD Mil.)||20,910||21,299||22,943||26,901||23,329|
|Foreign exchange reserves (USD Mil.)||367,962||371,102||389,267||403,694||407,460|
|Foreign exchange (WON/USD)||1,172.5||1,207.7||1,070.5||1,115.7||1,156.4|
|Bank of Korea base rate(%)||1.5||1.3||1.5||1.8||1.3|
* Source: IMF, Bank of Korea, Statistics Korea, KITA, MOTIE
* Note: GDP valued at current price. FDI is based on amounts declared. Yearly foreign exchange is based on selling rates. Foreign exchange is based on closing rates.