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GDP (Local Currency) in South Korea

Source: World Bank, National Statistical Office, IMF estimates (Oct 2020)
Last Updated: Feb 8, 2021

GDP in local currency terms reached 1,919,040 KRW bil in 2019 in South Korea, according to the National Statistical Office. This is 1.10 % more than in the previous year.

Historically, GDP in local currency terms in South Korea reached an all time high of 1,919,040 KRW bil in 2019 and an all time low of 47.7 KRW bil in 1953. When compared to South Korea's main peers, GDP in local currency terms in China amounted to 99,493 CNY bil, 553,760 JPY bil in Japan and 7,654,261 VND bil in Vietnam in 2019.

South Korea has been ranked 4th within the group of 174 countries we follow in terms of GDP in local currency terms.

GDP at purchaser's prices is the sum of the gross value added to the economy by all resident producers, plus any product taxes and minus any subsidies not included in the value of the products.

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