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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]
South Korea's economy was one of the world's fastest-growing from the early 1960s to the late 1990s, and was still one of the fastest-growing developed countries in the 2000s, along with Hong Kong, Singapore and Taiwan, the other three Asian Tigers. [198] It recorded the fastest rise in average GDP per capita in the world between 1980 and 1990 ...
This is a list of South Korean regions by GDP. All data are sourced from the latest regional statistics published by the South Korean Government, [1] the OECD and the International Monetary Fund (IMF). [2] [3] The South Korean won has been converted to the international dollar using the IMF's Purchasing Power Parity conversion rate.
The bank projects South Korea’s economy to grow at 2.4% this year, down from 2.6% in 2023. Household loans issued by banks were measured at around 1,135.7 trillion won ($841 billion) at the end ...
South Korea's economy returned to growth in the third quarter, recovering from its sharpest contraction in more than a decade, as the government pushed through stimulus measures and major trading ...
South Korea’s central bank lowered its key policy rate for a second straight month and said the country’s economy will grow at a slower pace than it initially anticipated. Following a policy ...
In addition, South Korea's rigorous education system and the establishment of a highly motivated and educated populace is largely responsible for spurring the country's high technology boom and rapid economic development. [126] South Korea's industrial manufacturing capability has doubled and its export sector has grown rapidly.
South Korean economic officials are closely watching if the coup will have a broader economic impact. In early January, economists projected Korea’s economy will grow by just 1.8% in 2025, down ...