Atlas · Asia-Pacific · KOR
South Korea
- Output · rank 12/187
- $1.9T
- People · rank 29/187
- 51.7M
- Land · rank 105/187
- 97K km²
- GDP per person
- $37,660
- Density
- 531.7 /km²
Government debt
56.5%gross debt, share of GDP
$1.1Toutstanding, rank 12 of 178
- Perimeter
- General government
- Basis
- Gross, not net
- Valuation
- Nominal
- Debt per person
- $21,279
- Net of assets
- 22.1%
- Source
- IMF World Economic Outlook / Fiscal Monitor
Gross debt is 56.5%; net of the government’s financial assets it is 22.1%, a 34.4% gap.
What this number does not tell youThe most misread figure in public finance. Perimeter varies by country — the IMF notes its Fiscal Monitor tables use a narrower perimeter for China than its Article IV estimates, and published figures for Japan range from roughly 200% to 250% depending on perimeter and valuation, both citing the IMF. Debt in a currency the government issues is a fundamentally different instrument from debt it must earn or borrow to service; this ratio does not distinguish them.
Private-sector debt
- Households
- 105.2% of GDP
- Non-financial corporations
- 115.8% of GDP
- Total private
- 221.0% of GDP
Government debt is only one layer. Household and corporate borrowing is where financial fragility often actually sits — and here it totals 221.0% of GDP, larger than the public debt above.
Currency & monetary policy
Issues its own currency and sets its own policy rate — meaningful room to manage local-currency debt.
House prices
Prices rose in cash terms but fell after inflation — housing got cheaper in purchasing-power terms despite the headline rise.
Payment rails
| System | Type | Live since |
|---|---|---|
| Interbank instant | Instant retail | 2001 |
| BOK-Wire+ | Large-value RTGS | 2009 |
Against its region and the world
Where South Korea sits relative to the Asia-Pacific average and the world average.
GDP per person (USD)
This country37,660
Region average8,736
World average14,013
Population density (per km²)
This country532
Region average135
World average64
Debt to GDP (%)
This country57
Region average97
World average95
Major banks
Largest institutions headquartered in South Korea, by total assets. Assets, not market value — the two rank very differently.
| Institution | Total assets | |
|---|---|---|
| 1 | KB Financial Group | $560B |
| 2 | Shinhan Financial Group | $540B |
| 3 | Kookmin Bank | $420B |
All figures
- Nominal GDP
- $1.9T
- Share of world output
- 1.69%
- Population
- 51.7M
- Share of world population
- 0.63%
- Land area
- 97,230 km²
- Share of world land
- 0.08%
- GDP per person
- $37,660
- GDP per km²
- $20,024,684
- Population density
- 531.7 /km²
- Government debt
- 56.5%
- Debt outstanding
- $1.1T
Where these figures come from
- Nominal GDPGross domestic product at current market prices, converted to US dollars at market exchange rates. Not adjusted for purchasing power.
- IMF World Economic Outlook
2025 estimate - PopulationTotal resident population, mid-year estimate.
- UN World Population Prospects
2025 estimate - Land areaTotal land area, excluding inland water where the source reports it separately.
- UN Statistics Division
2024 - General government gross debtGross debt of the general government sector as a share of GDP. Gross means government-held financial assets are not netted off.
- IMF World Economic Outlook / Fiscal Monitor
2025–26 estimate - Bank total assetsTotal assets for the most recent reporting period: cash, loans, investments, property and equipment.
- S&P Global Market Intelligence
2026 ranking - Net government debtGovernment debt net of its financial assets, as a share of GDP.
- IMF Fiscal Monitor
2025–26 estimate - Household debtCredit to households and non-profits serving them, as a share of GDP.
- BIS credit statistics
2024–25 - Corporate debtCredit to non-financial corporations, as a share of GDP.
- BIS credit statistics
2024–25 - Exchange rate regimeHow the currency is managed: free floating, floating, pegged, currency board, or no separate legal tender.
- IMF AREAER
2025 - Central bank policy rateThe main policy interest rate set by the central bank.
- Central banks / BIS
mid-2026, live - Residential house pricesYear-on-year change in residential property prices, nominal and inflation-adjusted.
- BIS / OECD residential property
latest quarter