Mining, manufacturing, and utilities activities contributed 29.0% to the gross value added (GVA) in 2023, followed by financial intermediation, real estate, and business activities (24.8%), and wholesale, retail, and hotels activities (9.7%). In nominal terms, the three sectors are expected to grow by 5.0%, 5.1%, and 5.3%, respectively, in 2024.
Seoul, Busan, and Incheon contributed 32.7% of the country’s GDP and accounted for 30.3% of the country’s population in 2023, according to the analyst.
The KOSPI index exhibited a rising trend over the past year. As of May 1, 2024, the index stood at 2,692.1, compared to 2,264.7 on May 1, 2023.
Seoul, Busan, and Incheon contributed 32.7% of the country’s GDP and accounted for 30.3% of the country’s population in 2023, according to the analyst.
The KOSPI index exhibited a rising trend over the past year. As of May 1, 2024, the index stood at 2,692.1, compared to 2,264.7 on May 1, 2023.
Scope
- Macroeconomic Country Outlook Reports evaluate a country's investment potential through its political, economic, social, technological, legal, and environmental (PESTLE) framework. This comprehensive analysis offers a holistic view of the economy, serving as a strategic tool to understand market dynamics, business potential, and operational direction. Each PESTLE factor is examined based on four parameters: current strengths, current challenges, future prospects, and future risks. These insights support strategic planning by highlighting opportunities and risks within the economy, helping businesses and investors make informed decisions. The report aims to provide a detailed understanding of the country's macroeconomic environment to facilitate effective decision-making and strategy development.
Reasons to Buy
- Macroeconomic Outlook Report identifies the potentials of the country as an investment destination by analyzing the political, economic, social, technological, legal and environmental (PESTLE) structure.
- PESTLE Insights provides 360 degree view of the economy which can be used as a strategic tool to understand the market dynamics, business potentials and direction of operations
- Along with providing the country’s snapshot, the report captures the risk factors pertaining to the macroeconomic risks, political environment, legal environment, demographic and social structure effectiveness, technology & infrastructure and natural and geographic aspects that might impact business.
- This report also highlights key clusters/cities which contribute significantly to the country GDP and population along with major companies’ presence in these areas.
Table of Contents
- Did You Know?
- Country Highlights
- Key Economic Updates
- Country Snapshot
- Political Landscape
- Economic Landscape
- Social Landscape
- Technological Landscape
- Legal Landscape
- Environmental Landscape
- Outlook
- Exhibit 1: South Korea’s performance in country risk analysis in comparison to Asia-Pacific and World average
- Exhibit 2: Performance overview (score: 0-100)
- Exhibit 3: Broad categories and weights behind the index
- Exhibit 4: KOSPI index, (May 2023 - May 2024)
- Exhibit 5: Key sectors’ contribution to the economy (2019-26f)
- Exhibit 6: FDI flows (Q1 2022-Q4 2023) and Greenfield investments (2019-23)
- Exhibit 7: Key infrastructure indicators
- Exhibit 8: Real GDP and household consumption growth rate (2019-26f)
- Exhibit 9: Real GDP growth rate comparison (2023)
- Exhibit 10: Volume of exports and imports growth (2019-26f)
- Exhibit 11: Current account balance (2019-26f)
- Exhibit 12: Top three commodity exports, % of total exports (2019-22)
- Exhibit 13: Electrical machinery and equipment and parts thereof, % of world total (2022)
- Exhibit 14: Interest rates (May 2019 - May 2024)
- Exhibit 15: Exchange rate and inflation (2019-26f)
- Exhibit 16: Public finance (2019-26f)
- Exhibit 17: General government debt (2019-26f)
- Exhibit 18: Unemployment rate (2019-26f)
- Exhibit 19: Average annual wages (2019-26f)
- Exhibit 20: Labor cost index (2019-26f)
- Exhibit 21: Rural/urban share of total population (1995, 2005, 2015, 2025f)
- Exhibit 22: Age-group share of total population (1995, 2005, 2015, 2025f)
- Exhibit 23: Gender split (1995, 2005, 2015, 2025f)
- Exhibit 24: Internet users as a percentage of total population, mobile penetration rate and broadband penetration rate (2023)
- Exhibit 25: Number of patents granted per million population (2022)
- Exhibit 26: High technology exports, % of manufactured exports (2022)
- Exhibit 27: Rule of law index (rankings) 2023
- Exhibit 28: Corruption perceptions index (rankings) (2023)
- Exhibit 29: Renewable energy, installed capacity (2019-23)
- Exhibit 30: CO2 emissions (2019-23)
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Samsung
- Hyundai
- Daewoo
- KIA Motors
