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.

ScopeIn 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 BuyMacroeconomic 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 operationsAlong 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.