The economy of South Korea is a highly developed mixed economy. [19] [20] [21] By nominal GDP, the economy was worth ₩2.61 quadrillion (US$1.87 trillion). It has the 4th largest economy in Asia and the 12th largest in the world as of 2024. [3]

The Republic of Korea has achieved remarkable success in recent decades in combining rapid economic growth with significant poverty reduction, with real gross domestic product (GDP) growing on average by 5.7% annually between 1980 and 2023.

2024年11月13日 · In 2020, South Korea’s Gross Domestic Product (GDP) contracted by 0.7%, marking its first economic decline since 1998, primarily due to the Covid-19 pandemic’s impact. The economy rebounded in 2021 with a 4.6% growth rate, the highest in 11 years, driven by strong semiconductor and automotive exports.

2025年1月16日 · The snapshot offers a concise summary of Korea's economic trends and prospects, drawing from the OECD Economic Survey, Economic Outlook, and Economic Policy Reform: Going for Growth reports, delivering in-depth analyses of economic trends, suggested policy recommendations, alongside an overview of structural policy developments.

2024年10月14日 · Over the past few decades, South Korea has achieved remarkable economic growth through its export-oriented, labor-intensive industrialization. It has grown to become the fourth-largest...

2023年12月5日 · The South Korean economy is facing headwinds in multiple fronts, including an effort to control government spending, inflation, and a shrinking population. South Korea announced it would enforce tighter fiscal rules to limit the deficit to 3 percent of the country’s gross domestic product (GDP).

2025年1月23日 · In 2024, the South Korean economy grew 2 per cent, after expanding 1.4 per cent the year before, but growth is projected to slow in 2025 to 1.6 per cent or 1.7 per cent, below the estimated ...

Overall, South Korea's economy has demonstrated resilience despite numerous challenges, including high inflation, energy costs, financial instability, and global geopolitical tensions. South Korea has become the 14th largest economy in the world and the …

The economy reported its highest growth in a decade in 2021. After a 0.9% contraction in 2020, the economy grew by 4.0% in 2021 due to strong recovery in consumption from both private and public sectors.

Economic growth will bounce back in 2024, on the back of rebounding external demand and growing private consumption. Inter-Korean tensions will intensify as South Korea deepens defence co-operation with the US, while North Korea seeks to …