South Korea

South Korea is a presidential republic, located in Eastern Asia. The constitution provides for a directly elected president, who appoints the prime minister and the cabinet. The legislative powers are vested in 300-seat unicameral National Assembly or Kuk Hoe. South Korea ranks 15th largest economy in the world (by GDP PPP), but is only 45th in terms of GDP per capita. Its key industries are: electronics, telecommunications, automobile production and shipbuilding. Almost half of all exports (48%) are directed to just three markets (China, United States and European Union). Total external trade volume is 43% of GDP. The central bank, Bank of Korea (BoK), pursues an inflation-targeting approach to monetary policy and maintains a floating exchange rate regime. Economic weaknesses include: ageing population, high dependence on external demand, geopolitical risk stemming from North Korea.      

Names and Codes
Country Name South Korea
Country code KOR
Currency Name South Korean won
Currency Code KRW
Currency Symbol
Subunit ₩1 = 100 jeon
Key Pair USD/KRW
Forex Quote direct
Central Bank Name Bank of Korea
Central Bank Abb. BoK
Economy and Trade
GDP (USD billion, 2017) 1530
GDP per capita (USD, PPP, 2017) 38700
Real GDP growth (2013-17) 3.0
Inflation (2013-17) 1.2
FDI inflows (% GDP, 2013-17) 0.8
Current account balance (% GDP, 2013-17) 6.4
Trade (% GDP, 2014-16) 43.3
Share in world total exports (%, 2016) 3.11
Monetary Policy and Currency
Exchange rate regime Floating
Monetary policy Inflation targeting
Price stability 2.00%
Real Interest Rate 0.20
Currency - global turnover (USD billion, 2016) 84
Currency - global share (%, 2016) 1.70
Key Pair - global turnover (USD billion, 2016) 78
Key Pair - global share (%, 2016) 1.50
Ranking - Economy
GDP per capita (USD, PPP, 2017)
Real GDP growth (2013-17)
Current account balance (% GDP, 2013-17)
Trade (% GDP, 2014-16)
Ranking - Currency and Monetary Policy
Currency - global turnover (USD billion, 2016)
Key Pair - global turnover (USD billion, 2016)
Real Interest Rate
Inflation (2013-17)
International Trade
Main Export (%, 2015)
Main Import (%, 2015)