South Korea Forecast: Unemployment Rate

1980 - 2029 | Yearly | % | International Monetary Fund

Key information about South Korea Unemployment Rate Forecast

  • South Korea Unemployment Rate is forecasted to be 2.900 % in Dec 2024 as reported by International Monetary Fund
  • It records no change from the last reported number of 2.700 % in Dec 2023
  • Looking ahead, South Korea Unemployment Rate is projected to stand at 3.000 % in Dec 2029
  • 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 2029 in the chart:

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South Korea Forecast: Unemployment Rate
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South Korea Forecast: Unemployment Rate

What is South Korea's Forecast: Unemployment Rate in 2029?

South Korea Unemployment Rate is forecasted to be 2.900 % in Dec 2024 as reported by International Monetary Fund See the table below for more data.

Last Previous Min Max Unit Frequency Range
3.000 2029 3.000 2028 2.058 1996 6.950 1998 % yearly 1980 - 2029

Forecast: Unemployment Rate by Country Comparison

country/region Last Frequency Range
Afghanistan (%) 0.000 yearly -
Albania (%) 10.700 2029 yearly 1980 - 2029
Algeria (%) 11.383 2019 yearly 1980 - 2019
Andorra (%) 1.550 2029 yearly 2010 - 2029
Angola (%) 0.000 yearly -
Antigua and Barbuda (%) 0.000 yearly -
Argentina (%) 7.000 2029 yearly 1980 - 2029
Armenia (%) 14.000 2029 yearly 2001 - 2029
Aruba (%) 5.091 2026 yearly 1991 - 2026
Australia (%) 4.524 2029 yearly 1980 - 2029
Austria (%) 5.179 2028 yearly 1980 - 2028
Azerbaijan (%) 5.098 2029 yearly 2000 - 2029
Bahamas (%) 9.500 2029 yearly 1986 - 2029
Bahrain (%) 6.300 2023 yearly 2007 - 2023
Bangladesh (%) 0.000 yearly -
Barbados (%) 7.677 2029 yearly 1981 - 2029
Belarus (%) 2.898 2029 yearly 1993 - 2029
Belgium (%) 5.700 2029 yearly 1980 - 2029
Belize (%) 3.400 2029 yearly 1990 - 2029
Benin (%) 0.000 yearly -
Bhutan (%) 3.500 2023 yearly 2003 - 2023
Bolivia (%) 5.200 2029 yearly 2000 - 2029
Bosnia and Herzegovina (%) 13.200 2029 yearly 1995 - 2029
Botswana (%) 0.000 yearly -
Brazil (%) 7.482 2029 yearly 1991 - 2029
Brunei (%) 4.900 2029 yearly 2011 - 2029
Bulgaria (%) 4.000 2029 yearly 1989 - 2029
Burkina Faso (%) 0.000 yearly -
Burundi (%) 0.000 yearly -
Cambodia (%) 0.000 yearly -
Cameroon (%) 0.000 yearly -
Canada (%) 5.960 2029 yearly 1980 - 2029
Cape Verde (%) 8.500 2029 yearly 1980 - 2029
Central African Republic (%) 0.000 yearly -
Chad (%) 0.000 yearly -
Chile (%) 7.500 2029 yearly 1980 - 2029
China (%) 5.100 2029 yearly 2017 - 2029
Colombia (%) 9.400 2029 yearly 1980 - 2029
Comoros (%) 0.000 yearly -
Congo (%) 0.000 yearly -
Costa Rica (%) 9.000 2026 yearly 1980 - 2026
Croatia (%) 5.466 2029 yearly 1991 - 2029
Cyprus (%) 4.979 2029 yearly 1982 - 2029
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 2029 yearly 1991 - 2029
Ecuador (%) 3.500 2029 yearly 1988 - 2029
Egypt (%) 5.502 2029 yearly 1990 - 2029
El Salvador (%) 5.216 2029 yearly 1988 - 2029
Equatorial Guinea (%) 0.000 yearly -
Eritrea (%) 0.000 yearly -
Estonia (%) 6.508 2029 yearly 1993 - 2029
Swaziland (%) 25.000 2016 yearly 1995 - 2016
Ethiopia (%) 0.000 yearly -
Fiji (%) 4.500 2029 yearly 1986 - 2029
Finland (%) 7.100 2028 yearly 1980 - 2028
France (%) 6.663 2028 yearly 1980 - 2028
Gabon (%) 0.000 yearly -
Gambia (%) 0.000 yearly -
Georgia (%) 14.500 2029 yearly 1996 - 2029
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 2029 yearly 1980 - 2029
Hong Kong SAR, China (%) 2.669 2029 yearly 1980 - 2029
Hungary (%) 3.689 2029 yearly 1980 - 2029
Iceland (%) 4.000 2029 yearly 1980 - 2029
India (%) 0.000 yearly -
Indonesia (%) 5.100 2029 yearly 1984 - 2029
Iran (%) 9.000 2029 yearly 1990 - 2029
Iraq (%) 0.000 yearly -
Ireland (%) 4.507 2028 yearly 1985 - 2028
Israel (%) 3.900 2029 yearly 1980 - 2029
Italy (%) 8.250 2028 yearly 1980 - 2028
Ivory Coast (%) 0.000 yearly -
Jamaica (%) 4.400 2023 yearly 1980 - 2023
Japan (%) 2.300 2028 yearly 1980 - 2028
Jordan (%) 21.975 2023 yearly 1984 - 2023
Kazakhstan (%) 4.775 2029 yearly 1994 - 2029
Kenya (%) 0.000 yearly -
Kiribati (%) 0.000 yearly -
South Korea (%) 3.000 2029 yearly 1980 - 2029
Kosovo (%) 10.875 2023 yearly 2012 - 2023
Kuwait (%) 2.200 2028 yearly 2002 - 2028
Kyrgyzstan (%) 9.014 2029 yearly 1994 - 2029
Laos (%) 0.000 yearly -
Latvia (%) 6.286 2029 yearly 1992 - 2029
Lebanon (%) 0.000 yearly -
Lesotho (%) 0.000 2015 yearly 2000 - 2015
Liberia (%) 0.000 yearly -
Libya (%) 0.000 yearly -

South Korea Key Series

Government and Public Finance Last Frequency Range
Consolidated Fiscal Balance: % of GDP (%) -1.1 Dec 2024 quarterly Jun 2000 - Dec 2024
Consolidated Fiscal Balance (USD mn) 9,321.082 Jan 2025 monthly Jul 1999 - Jan 2025
Tax Revenue (USD mn) 32,089.423 Jan 2025 monthly Jan 2000 - Jan 2025
Tax Revenue: % of GDP (%) 12.2 Dec 2024 quarterly Mar 2000 - Dec 2024
National Government Debt (USD mn) 874,032.3 Sep 2024 quarterly Sep 2002 - Sep 2024
Government Debt: % of GDP (%) 45.7 Sep 2024 quarterly Sep 2002 - Sep 2024
Forecast: Government Expenditure (KRW bn) 700,035.486 2029 yearly 1995 - 2029
Forecast: Government Net Debt (KRW bn) 1,793,717.560 2029 yearly 1990 - 2029
Forecast: Government Revenue (KRW bn) 701,179.384 2029 yearly 1995 - 2029
National Debt (ND) (KRW bn) 1,126,800.000 2023 yearly 1997 - 2023
Central Govt Debt: Foreign (KRW bn) 11,321.000 Sep 2024 quarterly Dec 2002 - Sep 2024
Central Govt Debt: Short-Term (KRW bn) 0.000 Sep 2024 quarterly Sep 2002 - Sep 2024
Central Govt Debt (KRW bn) 1,148,640.000 Sep 2024 quarterly Sep 2002 - Sep 2024
Central Govt Debt: Domestic (KRW bn) 1,137,319.000 Sep 2024 quarterly Dec 2002 - Sep 2024
Central Govt Debt: Medium & Long Term (KRW bn) 1,148,445.000 Sep 2024 quarterly Sep 2002 - Sep 2024
Central Govt Debt (KRW bn) 1,160,300.000 Nov 2024 monthly Jan 2014 - Nov 2024
Public Sector Debt (KRW bn) 1,673,300.000 2023 yearly 2011 - 2023
Foreign Trade Last Frequency Range
Forecast: Exports of Goods Growth (%) 3.037 2029 yearly 1980 - 2029
Trade Balance (USD mn) 4,151.7 Feb 2025 monthly Jan 1966 - Feb 2025
Total Exports (USD mn) 52,451.8 Feb 2025 monthly Jan 1966 - Feb 2025
Total Exports Growth (%) 0.7 Feb 2025 monthly Jan 1967 - Feb 2025
Aluminum: Exports (USD th) 3,728,290.173 2023 yearly 1995 - 2023
Exports: Medicament (USD th) 1,033,252.045 2023 yearly 1995 - 2023
Exports: Medicinal and Pharmaceutical Product (USD th) 8,582,131.205 2023 yearly 1995 - 2023
Total Imports (USD mn) 48,300.1 Feb 2025 monthly Jan 1966 - Feb 2025
Total Imports Growth (%) 0.2 Feb 2025 monthly Jan 1967 - Feb 2025
Imports: Medicament (USD th) 4,791,545.717 2023 yearly 1995 - 2023
Imports: Medicinal and Pharmaceutical Product (USD th) 6,039,256.682 2023 yearly 1995 - 2023
Total Exports to USA (USD mn) 9,906.630 Feb 2025 monthly Apr 1964 - Feb 2025
Total Imports from USA (USD mn) 5,733.114 Feb 2025 monthly Apr 1964 - Feb 2025
Total Exports to China (USD mn) 9,511.095 Feb 2025 monthly Jan 1988 - Feb 2025
Total Imports from China (USD mn) 9,479.431 Feb 2025 monthly Jan 1988 - Feb 2025
Imports: First 10 days (USD mn) 15,917.919 Mar 2025 monthly Jan 2016 - Mar 2025
Exports: First 10 days (USD mn) 13,872.336 Mar 2025 monthly Jan 2016 - Mar 2025
Trade Balance: First 10 days (USD mn) -2,045.583 Mar 2025 monthly Jan 2016 - Mar 2025
Imports: Middle East: Qatar (USD th) 830,001.000 Feb 2025 monthly Jan 1993 - Feb 2025
Imports: Natural Gas: Quantity (Ton th) 4,552.00 Feb 2018 monthly Nov 1990 - Feb 2018
Motor Vehicle: Exports (Unit) 232,978.000 Feb 2025 monthly Jan 1981 - Feb 2025
Crude Oil: Inventory (Barrel th) 41,044.000 Jan 2025 monthly Jan 2021 - Jan 2025
Export Value Index (2015=100) 122.334 2021 yearly 1980 - 2021
Import Value Index (2015=100) 140.915 2021 yearly 1980 - 2021
Balance of Payments Last Frequency Range
Direct Investment Abroad (USD mn) -939.1 Jan 2025 monthly Jan 1980 - Jan 2025
Current Account Balance (USD mn) 10,079.7 Jan 2025 monthly Jan 1980 - Jan 2025
Current Account Balance: % of GDP (USD mn) 10,079.7 Jan 2025 monthly Jan 1980 - Jan 2025
Foreign Direct Investment (USD mn) 2,558.8 Jun 2023 monthly Jan 1980 - Jun 2023
Foreign Direct Investment: % of GDP (%) 0.8 Dec 2024 quarterly Mar 1980 - Dec 2024
Foreign Portfolio Investment (USD mn) -4,888.900 Dec 2024 quarterly Mar 1980 - Dec 2024
Foreign Portfolio Investment: % of GDP (%) -1.0 Dec 2024 quarterly Mar 1980 - Dec 2024
Foreign Portfolio Investment: Equity Securities (USD mn) -9,913.5 Dec 2024 quarterly Mar 1980 - Dec 2024
Foreign Portfolio Investment: Debt Securities (USD mn) 5,024.600 Dec 2024 quarterly Mar 1980 - Dec 2024
External Debt (USD mn) 670,025.3 Dec 2024 quarterly Dec 1994 - Dec 2024
External Debt: % of GDP (%) 35.8 2024 yearly 1994 - 2024
External Debt: Short Term (USD mn) 146,852.7 Dec 2024 quarterly Dec 1994 - Dec 2024
External Debt: Short Term: % of GDP (%) 7.9 2024 yearly 1994 - 2024
Total Debt: % of GDP (%) 703.3 Sep 2024 quarterly Dec 2008 - Sep 2024
Forecast: Current Account Balance (USD bn) 97.775 2029 yearly 1980 - 2029
Net International Investment Position (USD mn) 1,102,264.500 Dec 2024 quarterly Dec 1994 - Dec 2024
BoP: CA: G&S: SV: Credit (USD mn) 8,183.800 May 2018 monthly Jan 1980 - May 2018
BoP: CA: G&S: Goods: Exports fob (USD mn) 53,778.700 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: G&S: Services (SV) (USD mn) -2,093.900 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: G&S: Goods: Imports fob (USD mn) 42,392.700 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: Other Investment (OI) (USD mn) -2,828.400 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: FD: Liabilities (USD mn) -4,206.800 May 2018 monthly Mar 1987 - May 2018
BoP: CF: FA: DI: Direct Investment Assets (USD mn) 6,294.200 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: CF: FA: OI: Other Investment Assets (OIA) (USD mn) 4,833.400 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: PI: Portfolio Investment Liabilities (PIL) (USD mn) 3,008.700 May 2018 monthly Jan 1980 - May 2018
BoP: CF: FA: FD: Assets (USD mn) -4,690.900 May 2018 monthly Mar 1987 - May 2018
BoP: sa: CA: Primary Income (USD mn) 2,974.700 Jan 2025 monthly Jan 1980 - Jan 2025
BoP: sa: CA: Secondary Income: Debit (USD mn) 934.400 Jan 2025 monthly Jan 1980 - Jan 2025
BoP: sa: CA: G&S: Goods: Exports fob (USD mn) 55,780.000 Jan 2025 monthly Jan 1980 - Jan 2025
BoP: sa: CA: G&S: Services: Credit (USD mn) 12,287.900 Jan 2025 monthly Jan 1980 - Jan 2025
BoP: sa: CA: Primary Income: Credit (USD mn) 6,649.200 Jan 2025 monthly Jan 1980 - Jan 2025
BoP: sa: CA: G&S: Services: Debit (USD mn) 13,128.500 Jan 2025 monthly Jan 1980 - Jan 2025
BoP: sa: CA: G&S: Goods: Imports fob (USD mn) 47,700.400 Jan 2025 monthly Jan 1980 - Jan 2025
BoP: sa: CA: Secondary Income (USD mn) -134.000 Jan 2025 monthly Jan 1980 - Jan 2025
BoP: sa: CA: Primary Income: Debit (USD mn) 3,674.500 Jan 2025 monthly Jan 1980 - Jan 2025
BoP: sa: CA: G&S: Services (USD mn) -840.600 Jan 2025 monthly Jan 1980 - Jan 2025
BoP: sa: CA: Secondary Income: Credit (USD mn) 800.400 Jan 2025 monthly Jan 1980 - Jan 2025
BoP: sa: CA: G&S: Goods (USD mn) 8,079.600 Jan 2025 monthly Jan 1980 - Jan 2025
External Debt: Gross: Long Term (LT) (USD mn) 523,172.600 Dec 2024 quarterly Dec 1994 - Dec 2024
Outward Direct Investment: Total Invested (USD mn) 4,330.272 Sep 2024 monthly Jan 1981 - Sep 2024
ODI: Total Invested: Manufacturing (USD mn) 1,117.959 Sep 2024 monthly Jan 1981 - Sep 2024
ODI: Total Invested: Financing and Insurance (USD mn) 0.743 Sep 2024 monthly Jan 1981 - Sep 2024
ODI: Total Invested: Wholesale and Retail sales (USD mn) 134.114 Sep 2024 monthly Jan 1981 - Sep 2024
ODI: Total Invested: Real Estate (USD mn) 725,563.42 Jun 2018 monthly Dec 1980 - Jun 2018
ODI: Total Invested: Mining (USD mn) 326.252 Sep 2024 monthly Jan 1981 - Sep 2024
Smalll Business Health Index (SBHI): Economic Outlook (EO) (Index) 64.400 Jan 2025 monthly Jan 2015 - Jan 2025
Monetary Last Frequency Range
Non Performing Loans Ratio (%) 0.4 Dec 2024 quarterly Jun 2001 - Dec 2024
Household Debt: % of GDP (%) 93.7 Sep 2024 quarterly Dec 2002 - Sep 2024
Non-Performing Loans (USD mn) 7,406.791 Dec 2024 quarterly Jun 2001 - Dec 2024
Money Supply M1 (USD mn) 871,830.146 Dec 2024 monthly Jan 1970 - Dec 2024
Money Supply M2 (USD mn) 2,812,875.983 Dec 2024 monthly Jan 1970 - Dec 2024
M2 Growth (%) 6.7 Dec 2024 monthly Jan 1971 - Dec 2024
Reserve Requirement Ratio (%) 7.0 Feb 2025 monthly Nov 1979 - Feb 2025
Foreign Exchange Reserves (USD mn) 387,316.3 Jan 2025 monthly Dec 1956 - Jan 2025
Foreign Exchange Reserves: % of GDP (%) 7.000 Feb 2025 monthly Nov 1979 - Feb 2025
Foreign Exchange Reserves: Months of Import (NA) 8.0 Feb 2025 monthly Jan 1971 - Feb 2025
Gold Reserves (USD mn) 4,794.759 Jan 2025 monthly Dec 1956 - Jan 2025
Total Deposits (USD mn) 1,802,817.858 Dec 2024 monthly Sep 1992 - Dec 2024
Total Deposits Growth (%) 5.3 Dec 2024 monthly Sep 1993 - Dec 2024
Domestic Credit (USD mn) 3,277,299.3 Dec 2024 monthly Dec 2001 - Dec 2024
Domestic Credit Growth (%) 5.7 Dec 2024 monthly Dec 2002 - Dec 2024
Debt Service Ratio: Households (%) 11.000 Sep 2024 quarterly Mar 1999 - Sep 2024
Debt Service Ratio: Private Non-Financial Sector (%) 20.300 Sep 2024 quarterly Mar 1999 - Sep 2024
Credit to Households (USD bn) 1,740.233 Sep 2024 quarterly Dec 1962 - Sep 2024
Credit to Private Non-Financial Sector (USD bn) 3,872.319 Sep 2024 quarterly Dec 1962 - Sep 2024
Household Debt (USD mn) 1,742,901.9 Mar 2023 quarterly Dec 2002 - Mar 2023
Total Loans (USD mn) 1,616,524.096 Dec 2024 monthly Jan 1965 - Dec 2024
Total Loans Growth (%) 5.41 Dec 2024 monthly Jan 1966 - Dec 2024
Private Debt: % of Nominal GDP (%) 161.34 Dec 2024 quarterly Mar 1991 - Dec 2024
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) 4,157,036.900 Dec 2024 monthly Jan 1970 - Dec 2024
Money Supply: New M1: sa (KRW bn) 1,288,442.900 Dec 2024 monthly Jan 1970 - Dec 2024
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
Deposits: Total: YoY (% bn) 5.300 Dec 2024 monthly Sep 1993 - Dec 2024
Deposits: Total: MoM (% bn) 0.800 Dec 2024 monthly Oct 1992 - Dec 2024
Loans of CSBs: Corporate and Household (CH) (KRW tn) 2,470.100 Feb 2025 monthly Dec 2013 - Feb 2025
Loans of CSBs: CH: Household (KRW tn) 1,143.700 Feb 2025 monthly Dec 2013 - Feb 2025
Loans of CSBs: CH: Household: Mortgage (KRW tn) 907.700 Feb 2025 monthly Dec 2013 - Feb 2025
Loans of Commercial & Specialized Banks (CSB): YoY (% bn) 5.400 Dec 2024 monthly Jan 1965 - Dec 2024
Loans of Commercial & Specialized Banks (CSB): MoM (% bn) -0.400 Dec 2024 monthly Jan 1965 - Dec 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) -6.0 Mar 2025 monthly Feb 2004 - Mar 2025
BSI: Forecast: BC: Services (NA) 81.000 Jul 2018 monthly Sep 2009 - Jul 2018
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
Business Survey Index: Actual: Non-manufacturing: sa (NA) 79.000 Jun 2018 monthly Jan 2003 - Jun 2018
Business Survey Index: Actual: Manufacturing: sa (NA) 79.000 Jun 2018 monthly Jan 2003 - Jun 2018
BSI: Forecast: BC: Manufacturing (NA) 69.000 Mar 2025 monthly Feb 2003 - Mar 2025
BSI: Forecast: BC: Services: Wholesale and Retail Trade (NA) 65.000 Mar 2025 monthly Sep 2009 - Mar 2025
BSI: Forecast: BC: Services: Construction (NA) 43.000 Mar 2025 monthly Sep 2009 - Mar 2025
Business Survey Index: Forecast: Business Condition: All Industries (NA) 66.000 Mar 2025 monthly Feb 2003 - Mar 2025

More Indicators for South Korea

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