South Korea Forecast: Unemployment Rate

1980 - 2028 | Yearly | % | International Monetary Fund

Key information about South Korea Unemployment Rate Forecast

  • South Korea Unemployment Rate is forecasted to be 3.200 % in Dec 2024 as reported by International Monetary Fund
  • It records a decrease from the last reported number of 2.675 % in Dec 2023
  • Looking ahead, South Korea Unemployment Rate is projected to stand at 3.205 % in Dec 2028
  • The data is updated yearly and is categorized in CEIC under World Trend Plus’s Country Forecast – Table IMF.WEO: Unemployment Rate

View South Korea's Forecast: Unemployment Rate from 1980 to 2028 in the chart:

South Korea Forecast: Unemployment Rate

What is South Korea's Forecast: Unemployment Rate in 2028?

South Korea Unemployment Rate is forecasted to be 3.200 % in Dec 2024 as reported by International Monetary Fund See the table below for more data.

Last Previous Min Max Unit Frequency Range
3.205 2028 3.208 2027 2.058 1996 6.950 1998 % yearly 1980 - 2028

Forecast: Unemployment Rate by Country Comparison

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country/region Last Frequency Range
Afghanistan (%) 0.000 yearly -
Albania (%) 11.000 2028 yearly 1980 - 2028
Algeria (%) 11.383 2019 yearly 1980 - 2019
Andorra (%) 1.675 2028 yearly 2010 - 2028
Angola (%) 0.000 yearly -
Antigua and Barbuda (%) 0.000 yearly -
Argentina (%) 7.000 2028 yearly 1980 - 2028
Armenia (%) 14.000 2028 yearly 2001 - 2028
Aruba (%) 5.091 2026 yearly 1991 - 2026
Australia (%) 4.898 2028 yearly 1980 - 2028
Austria (%) 5.179 2028 yearly 1980 - 2028
Azerbaijan (%) 5.545 2028 yearly 2000 - 2028
Bahamas (%) 9.190 2028 yearly 1986 - 2028
Bahrain (%) 5.400 2022 yearly 2007 - 2022
Bangladesh (%) 0.000 yearly -
Barbados (%) 9.718 2028 yearly 1981 - 2028
Belarus (%) 3.455 2028 yearly 1993 - 2028
Belgium (%) 5.402 2028 yearly 1980 - 2028
Belize (%) 2.800 2028 yearly 1990 - 2028
Benin (%) 0.000 yearly -
Bhutan (%) 5.900 2022 yearly 2003 - 2022
Bolivia (%) 5.200 2028 yearly 2000 - 2028
Bosnia and Herzegovina (%) 15.255 2028 yearly 1995 - 2028
Botswana (%) 0.000 yearly -
Brazil (%) 7.931 2028 yearly 1991 - 2028
Brunei (%) 4.900 2028 yearly 2011 - 2028
Bulgaria (%) 4.200 2028 yearly 1989 - 2028
Burkina Faso (%) 0.000 yearly -
Burundi (%) 0.000 yearly -
Cambodia (%) 0.000 yearly -
Cameroon (%) 0.000 yearly -
Canada (%) 5.999 2028 yearly 1980 - 2028
Cape Verde (%) 8.500 2028 yearly 1980 - 2028
Central African Republic (%) 0.000 yearly -
Chad (%) 0.000 yearly -
Chile (%) 7.499 2028 yearly 1980 - 2028
China (%) 5.200 2028 yearly 2017 - 2028
Colombia (%) 9.511 2028 yearly 1980 - 2028
Comoros (%) 0.000 yearly -
Congo (%) 0.000 yearly -
Costa Rica (%) 9.000 2026 yearly 1980 - 2026
Croatia (%) 5.581 2028 yearly 1991 - 2028
Cyprus (%) 5.481 2028 yearly 1982 - 2028
Czech Republic (%) 2.300 2028 yearly 1995 - 2028
Democratic Republic of Congo (%) 0.000 yearly -
Denmark (%) 5.000 2028 yearly 1980 - 2028
Djibouti (%) 0.000 yearly -
Dominica (%) 0.000 yearly -
Dominican Republic (%) 6.000 2028 yearly 1991 - 2028
Ecuador (%) 3.500 2028 yearly 1988 - 2028
Egypt (%) 6.679 2028 yearly 1990 - 2028
El Salvador (%) 5.500 2028 yearly 1988 - 2028
Equatorial Guinea (%) 0.000 yearly -
Eritrea (%) 0.000 yearly -
Estonia (%) 6.364 2028 yearly 1993 - 2028
Swaziland (%) 25.000 2016 yearly 1995 - 2016
Ethiopia (%) 0.000 yearly -
Fiji (%) 4.500 2028 yearly 1986 - 2028
Finland (%) 7.100 2028 yearly 1980 - 2028
France (%) 6.663 2028 yearly 1980 - 2028
Gabon (%) 0.000 yearly -
Gambia (%) 0.000 yearly -
Georgia (%) 17.516 2028 yearly 1996 - 2028
Germany (%) 2.963 2028 yearly 1980 - 2028
Ghana (%) 0.000 yearly -
Greece (%) 9.000 2028 yearly 1980 - 2028
Grenada (%) 0.000 yearly -
Guatemala (%) 0.000 yearly -
Guinea (%) 0.000 yearly -
Guinea-Bissau (%) 0.000 yearly -
Guyana (%) 0.000 yearly -
Haiti (%) 0.000 yearly -
Honduras (%) 8.000 2028 yearly 1980 - 2028
Hong Kong SAR, China (%) 2.774 2028 yearly 1980 - 2028
Hungary (%) 3.300 2028 yearly 1980 - 2028
Iceland (%) 3.976 2028 yearly 1980 - 2028
India (%) 0.000 yearly -
Indonesia (%) 5.100 2028 yearly 1984 - 2028
Iran (%) 9.779 2028 yearly 1990 - 2028
Iraq (%) 0.000 yearly -
Ireland (%) 4.507 2028 yearly 1985 - 2028
Israel (%) 4.000 2028 yearly 1980 - 2028
Italy (%) 8.250 2028 yearly 1980 - 2028
Ivory Coast (%) 0.000 yearly -
Jamaica (%) 8.375 2021 yearly 1980 - 2021
Japan (%) 2.300 2028 yearly 1980 - 2028
Jordan (%) 22.850 2022 yearly 1984 - 2022
Kazakhstan (%) 4.775 2028 yearly 1994 - 2028
Kenya (%) 0.000 yearly -
Kiribati (%) 0.000 yearly -
South Korea (%) 3.205 2028 yearly 1980 - 2028
Kosovo (%) 20.750 2021 yearly 2012 - 2021
Kuwait (%) 2.200 2028 yearly 2002 - 2028
Kyrgyzstan (%) 9.014 2028 yearly 1994 - 2028
Laos (%) 0.000 yearly -
Latvia (%) 6.402 2028 yearly 1992 - 2028
Lebanon (%) 0.000 yearly -
Lesotho (%) 0.000 2015 yearly 2000 - 2015
Liberia (%) 0.000 yearly -
Libya (%) 0.000 yearly -

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South Korea Key Series

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Includes 481 key indicators for South Korea, curated by CEIC analysts. Instant access to full history data in excel.
Government and Public Finance Last Frequency Range
Consolidated Fiscal Balance: % of GDP (%) -2.0 Sep 2023 quarterly Jun 2000 - Sep 2023
Consolidated Fiscal Balance (USD mn) -6,888.333 Nov 2023 monthly Jul 1999 - Nov 2023
Tax Revenue (USD mn) 34,617.685 Jan 2024 monthly Jan 2000 - Jan 2024
Tax Revenue: % of GDP (%) 22.7 Dec 2023 quarterly Mar 2000 - Dec 2023
National Government Debt (USD mn) 815,782.8 Sep 2023 quarterly Sep 2002 - Sep 2023
Government Debt: % of GDP (%) 49.9 Sep 2023 quarterly Sep 2002 - Sep 2023
Forecast: Government Expenditure (KRW bn) 679,848.650 2028 yearly 1995 - 2028
Forecast: Government Net Debt (KRW bn) 1,606,994.340 2028 yearly 1990 - 2028
Forecast: Government Revenue (KRW bn) 679,687.380 2028 yearly 1995 - 2028
National Debt (ND) (KRW bn) 1,067,700.000 2022 yearly 1997 - 2022
Central Govt Debt: Foreign (KRW bn) 11,791.000 Sep 2023 quarterly Dec 2002 - Sep 2023
Central Govt Debt (KRW bn) 1,099,561.000 Sep 2023 quarterly Sep 2002 - Sep 2023
Central Govt Debt: Short-Term (KRW bn) 0.000 Sep 2023 quarterly Sep 2002 - Sep 2023
Central Govt Debt: Medium & Long Term (KRW bn) 1,099,507.000 Sep 2023 quarterly Sep 2002 - Sep 2023
Central Govt Debt: Domestic (KRW bn) 1,087,771.000 Sep 2023 quarterly Dec 2002 - Sep 2023
Public Sector Debt (KRW bn) 1,588,700.000 2022 yearly 2011 - 2022
Foreign Trade Last Frequency Range
Forecast: Exports of Goods Growth (%) 3.043 2028 yearly 1980 - 2028
Trade Balance (USD mn) 4,291.0 Feb 2024 monthly Jan 1966 - Feb 2024
Total Exports (USD mn) 52,405.0 Feb 2024 monthly Jan 1966 - Feb 2024
Total Exports Growth (%) 4.8 Feb 2024 monthly Jan 1967 - Feb 2024
Aluminum: Exports (USD th) 4,568,165.809 2022 yearly 1995 - 2022
Exports: Medicament (USD th) 1,062,354.931 2022 yearly 1995 - 2022
Exports: Medicinal and Pharmaceutical Product (USD th) 6,513,466.420 2022 yearly 1995 - 2022
Total Imports (USD mn) 48,114.0 Feb 2024 monthly Jan 1966 - Feb 2024
Total Imports Growth (%) -13.1 Feb 2024 monthly Jan 1967 - Feb 2024
Imports: Medicament (USD th) 4,532,213.079 2022 yearly 1995 - 2022
Imports: Medicinal and Pharmaceutical Product (USD th) 4,747,831.996 2022 yearly 1995 - 2022
Total Exports to USA (USD mn) 9,805.806 Feb 2024 monthly Apr 1964 - Feb 2024
Total Imports from USA (USD mn) 5,598.926 Feb 2024 monthly Apr 1964 - Feb 2024
Total Exports to China (USD mn) 9,653.373 Feb 2024 monthly Jan 1988 - Feb 2024
Total Imports from China (USD mn) 9,410.055 Feb 2024 monthly Jan 1988 - Feb 2024
Trade Balance: First 10 days (USD mn) -2,000.842 Feb 2024 monthly Jan 2016 - Feb 2024
Imports: First 10 days (USD mn) 17,011.943 Feb 2024 monthly Jan 2016 - Feb 2024
Exports: First 10 days (USD mn) 15,011.101 Feb 2024 monthly Jan 2016 - Feb 2024
Imports: Middle East: Qatar (USD th) 1,194,807.000 Jan 2024 monthly Jan 1993 - Jan 2024
Imports: Natural Gas: Quantity (Ton th) 4,552.00 Feb 2018 monthly Nov 1990 - Feb 2018
Motor Vehicle: Exports (Unit) 198,653.000 Feb 2024 monthly Jan 1981 - Feb 2024
Balance of Payments Last Frequency Range
Direct Investment Abroad (USD mn) 5,830.3 Dec 2023 monthly Jan 1980 - Dec 2023
Current Account Balance (USD mn) 5,518.8 Dec 2023 monthly Jan 1980 - Dec 2023
Current Account Balance: % of GDP (USD mn) 5,518.8 Dec 2023 monthly Jan 1980 - Dec 2023
Foreign Direct Investment (USD mn) 2,558.8 Jun 2023 monthly Jan 1980 - Jun 2023
Foreign Direct Investment: % of GDP (%) 1.2 Dec 2023 quarterly Mar 1980 - Dec 2023
Foreign Portfolio Investment (USD mn) 7,450.600 Dec 2023 quarterly Mar 1980 - Dec 2023
Foreign Portfolio Investment: % of GDP (%) 1.7 Dec 2023 quarterly Mar 1980 - Dec 2023
Foreign Portfolio Investment: Equity Securities (USD mn) 3,253.2 Dec 2023 quarterly Mar 1980 - Dec 2023
Foreign Portfolio Investment: Debt Securities (USD mn) 4,197.400 Dec 2023 quarterly Mar 1980 - Dec 2023
External Debt (USD mn) 663,631.1 Dec 2023 quarterly Dec 1994 - Dec 2023
External Debt: % of GDP (%) 38.8 2023 yearly 1994 - 2023
External Debt: Short Term (USD mn) 136,202.8 Dec 2023 quarterly Dec 1994 - Dec 2023
External Debt: Short Term: % of GDP (%) 8.0 2023 yearly 1994 - 2023
Total Debt: % of GDP (%) 760.2 Sep 2023 quarterly Dec 2008 - Sep 2023
Forecast: Current Account Balance (USD bn) 66.020 2028 yearly 1980 - 2028
Net International Investment Position (USD mn) 779,876.500 Dec 2023 quarterly Dec 1994 - Dec 2023
BoP: CA: G&S: Goods: Exports fob (USD mn) 53,778.700 May 2018 monthly Jan 1980 - May 2018
BoP: CA: G&S: Goods: Imports fob (USD mn) 42,392.700 May 2018 monthly Jan 1980 - May 2018
BoP: CA: G&S: Services (SV) (USD mn) -2,093.900 May 2018 monthly Jan 1980 - May 2018
BoP: CA: G&S: SV: Credit (USD mn) 8,183.800 May 2018 monthly Jan 1980 - May 2018
BoP: CA: G&S: SV: Debit (USD mn) 10,277.700 May 2018 monthly Jan 1980 - May 2018
BoP: CA: Secondary Incomes: Credit (USD mn) 873.600 May 2018 monthly Jan 1980 - May 2018
BoP: CA: Secondary Incomes: Debit (USD mn) 1,713.900 May 2018 monthly Jan 1980 - May 2018
BoP: CF: FA: Direct Investment (DI) (USD mn) 6,056.900 May 2018 monthly Jan 1980 - May 2018
BoP: CF: FA: DI: Direct Investment Assets (USD mn) 6,294.200 May 2018 monthly Jan 1980 - May 2018
BoP: CF: FA: Portfolio Investment (PI) (USD mn) 407.400 May 2018 monthly Jan 1980 - May 2018
BoP: CF: FA: PI: Portfolio Investment Asset (PIA) (USD mn) 3,416.100 May 2018 monthly Jan 1980 - May 2018
BoP: CF: FA: PI: Portfolio Investment Liabilities (PIL) (USD mn) 3,008.700 May 2018 monthly Jan 1980 - May 2018
BoP: CF: FA: Financial Derivatives (FD) (USD mn) -484.100 May 2018 monthly Mar 1987 - May 2018
BoP: CF: FA: FD: Assets (USD mn) -4,690.900 May 2018 monthly Mar 1987 - May 2018
BoP: CF: FA: FD: Liabilities (USD mn) -4,206.800 May 2018 monthly Mar 1987 - May 2018
BoP: CF: FA: Other Investment (OI) (USD mn) -2,828.400 May 2018 monthly Jan 1980 - May 2018
BoP: CF: FA: OI: Other Investment Assets (OIA) (USD mn) 4,833.400 May 2018 monthly Jan 1980 - May 2018
BoP: CF: FA: OI: Other Investment Liabilities (OIL) (USD mn) 7,661.800 May 2018 monthly Jan 1980 - May 2018
BoP: sa: CA: Primary Income: Credit (USD mn) 4,060.200 Dec 2023 monthly Jan 1980 - Dec 2023
BoP: sa: CA: Secondary Income: Credit (USD mn) 803.100 Dec 2023 monthly Jan 1980 - Dec 2023
BoP: sa: CA: G&S: Services: Debit (USD mn) 12,163.700 Dec 2023 monthly Jan 1980 - Dec 2023
BoP: sa: CA: G&S: Goods: Imports fob (USD mn) 48,752.500 Dec 2023 monthly Jan 1980 - Dec 2023
BoP: sa: CA: G&S: Goods (USD mn) 6,780.300 Dec 2023 monthly Jan 1980 - Dec 2023
BoP: sa: CA: Primary Income (USD mn) 448.300 Dec 2023 monthly Jan 1980 - Dec 2023
BoP: sa: CA: G&S: Goods: Exports fob (USD mn) 55,532.800 Dec 2023 monthly Jan 1980 - Dec 2023
BoP: sa: CA: Secondary Income: Debit (USD mn) 1,051.900 Dec 2023 monthly Jan 1980 - Dec 2023
BoP: sa: CA: Primary Income: Debit (USD mn) 3,611.900 Dec 2023 monthly Jan 1980 - Dec 2023
BoP: sa: CA: G&S: Services: Credit (USD mn) 10,702.700 Dec 2023 monthly Jan 1980 - Dec 2023
BoP: sa: CA: Secondary Income (USD mn) -248.800 Dec 2023 monthly Jan 1980 - Dec 2023
BoP: sa: CA: G&S: Services (USD mn) -1,461.000 Dec 2023 monthly Jan 1980 - Dec 2023
International Investment Position: Net (USD mn) 779,876.500 Dec 2023 quarterly Dec 1994 - Dec 2023
International Investment Position: Liabilities (USD mn) 1,507,236.500 Dec 2023 quarterly Dec 1994 - Dec 2023
International Investment Position: Assets (USD mn) 2,287,113.000 Dec 2023 quarterly Dec 1994 - Dec 2023
External Debt: Gross: Long Term (LT) (USD mn) 527,428.300 Dec 2023 quarterly Dec 1994 - Dec 2023
Outward Direct Investment: Total Invested: Hong Kong (USD mn) 38.467 Sep 2023 monthly Jan 1981 - Sep 2023
Outward Direct Investment: Total Invested: Indonesia (USD mn) 30.685 Sep 2023 monthly Jan 1981 - Sep 2023
Outward Direct Investment: Total Invested (USD mn) 4,822.252 Sep 2023 monthly Jan 1981 - Sep 2023
Outward Direct Investment: Total Invested: China (USD mn) 47.555 Sep 2023 monthly Jan 1981 - Sep 2023
Outward Direct Investment: Total Invested: USA (USD mn) 2,673.980 Sep 2023 monthly Jan 1981 - Sep 2023
Outward Direct Investment: Total Invested: Vietnam (USD mn) 212.670 Sep 2023 monthly Jan 1981 - Sep 2023
ODI: Total Invested: Manufacturing (USD mn) 1,449.129 Sep 2023 monthly Jan 1981 - Sep 2023
ODI: Total Invested: Wholesale and Retail sales (USD mn) 74.416 Sep 2023 monthly Jan 1981 - Sep 2023
ODI: Total Invested: Mining (USD mn) 213.539 Sep 2023 monthly Jan 1981 - Sep 2023
ODI: Total Invested: Financing and Insurance (USD mn) 2,418.296 Sep 2023 monthly Feb 1981 - Sep 2023
ODI: Total Invested: Real Estate (USD mn) 725,563.42 Jun 2018 monthly Dec 1980 - Jun 2018
Smalll Business Health Index (SBHI): Economic Outlook (EO) (Index) 72.600 Jan 2024 monthly Jan 2015 - Jan 2024
Monetary Last Frequency Range
Non Performing Loans Ratio (%) 0.3 Sep 2023 quarterly Jun 2001 - Sep 2023
Household Debt: % of GDP (%) 104.5 Sep 2023 quarterly Dec 2002 - Sep 2023
Non-Performing Loans (USD mn) 6,510.097 Sep 2023 quarterly Jun 2001 - Sep 2023
Money Supply M1 (USD mn) 951,956.436 Dec 2023 monthly Jan 1970 - Dec 2023
Money Supply M2 (USD mn) 3,018,487.881 Dec 2023 monthly Jan 1970 - Dec 2023
M2 Growth (%) 3.9 Dec 2023 monthly Jan 1971 - Dec 2023
Reserve Requirement Ratio (%) 7.0 Jan 2024 monthly Nov 1979 - Jan 2024
Foreign Exchange Reserves (USD mn) 391,467.1 Jan 2024 monthly Dec 1956 - Jan 2024
Foreign Exchange Reserves: % of GDP (%) 7.000 Jan 2024 monthly Nov 1979 - Jan 2024
Foreign Exchange Reserves: Months of Import (NA) 7.2 Jan 2024 monthly Jan 1971 - Jan 2024
Gold Reserves (USD mn) 4,794.759 Jan 2024 monthly Dec 1956 - Jan 2024
Total Deposits (USD mn) 1,960,706.213 Dec 2023 monthly Sep 1992 - Dec 2023
Total Deposits Growth (%) 2.5 Dec 2023 monthly Sep 1993 - Dec 2023
Domestic Credit (USD mn) 3,548,400.7 Dec 2023 monthly Dec 2001 - Dec 2023
Domestic Credit Growth (%) 5.1 Dec 2023 monthly Dec 2002 - Dec 2023
Debt Service Ratio: Households (%) 14.200 Sep 2023 quarterly Mar 1999 - Sep 2023
Debt Service Ratio: Private Non-Financial Sector (%) 23.800 Sep 2023 quarterly Mar 1999 - Sep 2023
Credit to Households (USD bn) 1,663.027 Sep 2023 quarterly Dec 1962 - Sep 2023
Credit to Private Non-Financial Sector (USD bn) 3,695.718 Sep 2023 quarterly Dec 1962 - Sep 2023
Household Debt (USD mn) 1,742,901.9 Mar 2023 quarterly Dec 2002 - Mar 2023
Total Loans (USD mn) 1,755,632.431 Dec 2023 monthly Jan 1965 - Dec 2023
Total Loans Growth (%) 4.65 Dec 2023 monthly Jan 1966 - Dec 2023
Private Debt: % of Nominal GDP (%) 176.79 Dec 2023 quarterly Mar 1991 - Dec 2023
Money Supply: New M2: Certificate of Deposit (KRW bn) 24,533.00 Mar 2018 monthly Jun 1984 - Mar 2018
Money Supply: New M2: sa (KRW bn) 3,896,777.300 Dec 2023 monthly Jan 1970 - Dec 2023
Money Supply: New M1: sa (KRW bn) 1,228,947.200 Dec 2023 monthly Jan 1970 - Dec 2023
Deposits: CSB: Households (KRW bn) 614,344.50 Mar 2018 monthly Jan 1975 - Mar 2018
Deposits: CSB: Corporations (KRW bn) 396,621.30 Mar 2018 monthly Jan 1975 - Mar 2018
Loans of CSBs: CH: Corporate (KRW bn) 796,021.70 Mar 2018 monthly Dec 2006 - Mar 2018
Loans of Commercial and Specialized Banks (CSB): Total (KRW bn) 1,525,815.40 Mar 2018 monthly Jan 1965 - Mar 2018
Loans of CSBs: CH: Household (KRW bn) 1,098,354.300 Jan 2024 monthly Dec 2013 - Jan 2024
Loans of CSBs: Corporate and Household (CH) (KRW bn) 2,352,781.500 Jan 2024 monthly Dec 2013 - Jan 2024
Loans of CSBs: CH: Household: Mortgage (KRW bn) 855,289.000 Jan 2024 monthly Dec 2013 - Jan 2024
KR: Non-performing Loans (NPL): Commercial & Specialized Banks (KRW bn) 12,186.500 Dec 2018 quarterly Jun 2001 - Dec 2018
Business and Economic Survey Last Frequency Range
Business Confidence Growth (% Point) 9.0 Mar 2024 monthly Feb 2004 - Mar 2024
Busniess Survey Index: Forecast: Manufacturing: sa (NA) 81.000 Jul 2018 monthly Feb 2003 - Jul 2018
Business Survey Index: Forecast: Non-manufacturing: sa (NA) 81.000 Jul 2018 monthly Feb 2003 - Jul 2018
BSI: Forecast: BC: Services (NA) 81.000 Jul 2018 monthly Sep 2009 - Jul 2018
Business Survey Index: Actual: Manufacturing: sa (NA) 79.000 Jun 2018 monthly Jan 2003 - Jun 2018
Business Survey Index: Actual: Non-manufacturing: sa (NA) 79.000 Jun 2018 monthly Jan 2003 - Jun 2018
Business Survey Index: Forecast: Business Condition: All Industries (NA) 72.000 Mar 2024 monthly Feb 2003 - Mar 2024
BSI: Forecast: BC: Services: Construction (NA) 51.000 Mar 2024 monthly Sep 2009 - Mar 2024
BSI: Forecast: BC: Services: Wholesale and Retail Trade (NA) 71.000 Mar 2024 monthly Sep 2009 - Mar 2024
BSI: Forecast: BC: Manufacturing (NA) 75.000 Mar 2024 monthly Feb 2003 - Mar 2024

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