Gross savings as a share of GDP reached 35.0 % in 2019 in South Korea, according to the National Statistical Office. This is 2.75 % less than in the previous year.
Historically, gross savings as a share of GDP in South Korea reached an all time high of 41.2 % in 1988 and an all time low of 23.3 % in 1981. When compared to South Korea's main peers, gross savings as a share of GDP in China amounted to 44.0 %, 28.2 % in Japan and 30.0 % in Vietnam in 2019.
South Korea has been ranked 12th within the group of 165 countries we follow in terms of gross savings as a share of GDP, 15 places above the position seen 10 years ago.
Gross savings are calculated as gross national income less total consumption, plus net transfers.