South Korea PESTLE Insights - A Macroeconomic Outlook Report

South Korea PESTLE Insights - A Macroeconomic Outlook Report

Summary

According to GlobalData 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 GlobalData.

Key Highlights

The KOSPI exhibited a volatile trend over the past year. As of April 17, 2023, the index stood at 2,495.2, compared to 2,696.1 on April 17, 2022.

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.