South Korea PESTLE Insights – A Macroeconomic Outlook Report

According to MarketLine estimates, mining, manufacturing, and utility activities contributed 30% to GVA, followed by financial intermediation, real estate, and business activities (24.4%), and wholesale, retail, and hotels (9.4%) in 2022. The three sectors are forecast to grow by 6.5%, 5.7%, and 3.0%, respectively, in 2023.

Seoul, Busan, and Incheon contributed 31.9% of the country’s GDP and comprised 30.7% of the country’s population in 2022, according to MarketLine.

Scope

In July 2020, the Korean government announced $135.5 billion in investment (2020–25) for the Korean New Deal Program which aims for a green transition of infrastructure.

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.

Companies mentioned

Samsung

Hyundai

Daewoo

KIA Motors

Table of Contents

Table of Contents

List of Exhibits

Did You Know?

Country Highlights

Key Economic Updates

Country Snapshot

Political Landscape

Economic Landscape

Social Landscape

Technological Landscape

Legal Landscape

Environmental Landscape

Outlook

List of Tables

Exhibit 1: South Korea’s performance in country risk analysis in comparison to Asia-Pacific and World average

Exhibit 2: Performance overview (score: 1–100)

Exhibit 3: Broad categories and weights behind the index

Exhibit 4: South Korea’s Stock Exchange Index – KOSPI Index (April 2022–April 2023)

Exhibit 5: South Korea exchange rate (April 2022–April 2023)

Exhibit 6: Key sectors’ contribution to the economy

Exhibit 7: FDI flows (Q1 2021–Q4 2022) and Greenfield investments (2017–21)

Exhibit 8: Key infrastructure indicators

Exhibit 9: Real GDP and household consumption growth rate (2018–25f)

Exhibit 10: Real GDP growth rate comparison (2022e)

Exhibit 11: Exports and imports growth (2018–25f)

Exhibit 12: Current account balance (2018–25f)

Exhibit 13: Top three commodity exports, % of total exports (2019–22)

Exhibit 14: Electrical machinery and equipment and parts thereof, % share of the world’s total (2022)

Exhibit 15: Interest rates (April 2018– April 2023)

Exhibit 16: Exchange rate and inflation (2018–25f)

Exhibit 17: General government net lending/borrowing (2018–25f)

Exhibit 18: General government debt (2018–25f)

Exhibit 19: Employed population and unemployment rate (2018–25f)

Exhibit 20: Average annual wages (2018–25f)

Exhibit 21: Labor index cost (2018–25f)

Exhibit 22: Rural-urban share of total population (1995, 2005, 2015, 2025)

Exhibit 23: Age-group share of total population (1995, 2005, 2015, 2025)

Exhibit 24: Gender split (1995, 2005, 2015, 2025)

Exhibit 25: Internet users as a percentage of total population, mobile penetration rate and broadband penetration rate (2022)

Exhibit 26: Number of patents granted per million population (2021)

Exhibit 27: High technology exports, % of manufactured exports (2021)

Exhibit 28: Rule of law (rankings), 2022

Exhibit 29: Corruption perceptions index (rankings) (2022)

Exhibit 30: Renewable energy capacity (2017–21)

Exhibit 31: CO2 emissions (2017–21)

List of Figures

List of Figures

Exhibit 1: South Korea’s performance in terms of its country risk analysis in comparison to Latin America and the World

Exhibit 2: Performance overview (Score: 1-100)

Exhibit 3: Broad categories and weights behind the index

Exhibit 4: South Korea stock market (KOSPI index), March 2021- March 2022

Exhibit 5: Key sectors; contribution to the economy (2017-2024f)

Exhibit 6: FDI outflow and inflow (Q1 2020-Q4 2021)

Exhibit 7: Key infrastructure indicators

Exhibit 8: Real GDP and household consumption growth rate (2017-2024f)

Exhibit 9: Real GDP growth rate comparison (2021e)

Exhibit 10: Export, import and trade balance (2017-2024f)

Exhibit 11: Current account balance (2017-2024f)

Exhibit 12: Top three commodity exports, % of total exports, (2018-2021)

Exhibit 13: Electrical machinery and equipment, % of world total, 2020

Exhibit 14: Interest rates (December 2016 – December 2021)

Exhibit 15: Exchange rate and inflation rate (2017-2024f)

Exhibit 16: General government net lending/ borrowing (2017-2024f)

Exhibit 17: General government debt (2017-2024f)

Exhibit 18: Unemployment rate (2017-2024f)

Exhibit 19: Average annual wages (2017-2024f)

Exhibit 20: Labor cost index (2017-2024f)

Exhibit 21: Rural/urban share of total population (1995, 2005, 2015, 2025)

Exhibit 22: Age-group share of total population (1995, 2005, 2015, 2025)

Exhibit 23: Gender split (1995, 2005, 2015, 2025)

Exhibit 24: Internet users as a % of total population, mobile and broadband penetration rates (2021e)

Exhibit 25: Number of patents granted per million people (2020)

Exhibit 26: High technology exports (% of manufactured exports) (2020)

Exhibit 27: Doing business in South Korea 2020

Exhibit 28: Corruption perceptions index (rankings) (2021)

Exhibit 29: Renewable energy, installed capacity (2016-2020)

Exhibit 30: CO2 emissions (2016-2020)

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