Macroeconomic Outlook Report: South Korea

Macroeconomic Outlook Report: South Korea

Macroeconomic Outlook Report: South Korea

Summary

Mining, manufacturing, and utilities activities contributed 29.0% to the gross value added (GVA) in 2023, followed by financial intermediation, real estate, and business activities (24.8%), and wholesale, retail, and hotels activities (9.7%). In nominal terms, the three sectors are expected to grow by 5.0%, 5.1%, and 5.3%, respectively, in 2024.

Seoul, Busan, and Incheon contributed 32.7% of the country’s GDP and accounted for 30.3% of the country’s population in 2023, according to GlobalData.

The KOSPI index exhibited a rising trend over the past year. As of May 1, 2024, the index stood at 2,692.1, compared to 2,264.7 on May 1, 2023.

Scope

• Macroeconomic Country Outlook Reports evaluate a country's investment potential through its political, economic, social, technological, legal, and environmental (PESTLE) framework. This comprehensive analysis offers a holistic view of the economy, serving as a strategic tool to understand market dynamics, business potential, and operational direction. Each PESTLE factor is examined based on four parameters: current strengths, current challenges, future prospects, and future risks. These insights support strategic planning by highlighting opportunities and risks within the economy, helping businesses and investors make informed decisions. The report aims to provide a detailed understanding of the country's macroeconomic environment to facilitate effective decision-making and strategy development.

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.