Kotra Trade & Investment 1-2

I. Composite indexes of business conditions (1995=100) (*p : indicates projections)

ĄĄ 1992 1993 1994 1995 1996 1997 JUN. JUL. AUG. SEP.

Leading index - - - 101.6 108.6 111.5 112.5 114.0 114.6

Roughly coincident index - - - 102.6 108.0 108.7 109.0 109.8 110.5

Lagging index - - - 101.8 106.7 107.8 107.7 107.3 108.1

Cycle of coincident composite index - - - 102.6 102.2 100.0 99.9 100.0 100.3

2. Industrial activities (1995=100)

ĄĄ 1992 1993 1994 1995 1996 1997JUN. JUL. AUG. SEP.

Industrial production index 77.1 80.5 89.3 100.0 108.4 116.7 117.8 119.5 120.7

Producer's shipment index 75.1 79.4 88.8 100.0 108.7 115.6 117.8 120.6 79.5

Producer's inventory index 84.0 86.3 92.4 104.2 121.3 133.7 131.3 127.2 128.5

Manufacturing production capacity index 86.7 88.4 91.5 100.0 110.0 119.7 120.4 121.0 120.9

Manufacturing operation ratio index 96.8 96.1 100.4 100.0 100.5 97.0 98.2 98.7 98.0

Wholesale and retail trade index (constant) 78.5 85.2 92.6 100.0 107.0 109.9 110.7 106.5 112.5

3. Investment

1992 1993 1994 1995 1996 1997 JUN. JUL. AUG. SEP.

Value of domestic machinery orders received (billion won)

12,768.7 14,532.4 18,498.3 20,962.6 23,588.9 2,337.8 1,942.3 1,845.5 1,742.7

Value of domestic construction orders received (billion won)

27,861.0 33,246.5 39,393.8 49,025.1 59,535.0 7,214.9 3,862.5 3,764.9 4,952.0

Permitted floor area for building construction (thousand sq. m)

94,647 117,790 116,221 117,327 113,820 9,872 9,277 7,875 7,602

4. Labor and wages

1992 1993 1994 1995 1996 1997 JUN. JUL. AUG. SEP.

Economically active population (thousand persons)

19,426 19,803 20,326 20,797 21,188 21,874 21,865 21,773 21,779

Economically active population (thousand persons)

18,961 19,253 19,837 20,377 20,764 21,378 21,389 21,308 21,310

Unemployment rate (%)

2.4 2.8 2.4 2.0 2.0 2.3 2.2 2.1 2.2

Labor productivity index (1990=100) 1996 3/4 4/4 1997 1/4 2/4

126.0 136.1 149.9 165.5 187.1 187.1 198.3 203.6 211.2

5. Prices (1990=100)
ĄĄ 1992 1993 1994 1995 1996 1997 JUL. AUG. SEP. OCT.

Consumer price index (1995=100) 86.0 90.1 95.7 100.0 104.9 109.3 110.1 110.6 110.6

Producer price index 107.0 108.5 111.6 116.8 119.9 123.4 123.7 124.1 123.6

Export price index 106.5 109.2 112.2 113.7 114.3 121.4 121.6 123.6 124.6

Import price index 101.1 104.7 108.9 115.2 115.2 121.4 121.6 122.4 123.9

6. National accounts (based on 1990 constant prices)

ĄĄ 1992 1993 1994 1995 1996 1996 3/4 4/4 1997 1/4 2/4

GNP (billion won) 204,231.0 216,162.4 234,333.3 254,704.9 272,323.8 68,631.2 77,107.2 64,051.6 69,346.7

Growth rate of GNP 5.0 5.8 8.4 8.7 6.9 6.5 6.8 5.1 5.6

Per capita GNP (U.S. dollars) 6,988 7,484 8,467 10,037 10,548 - - - -

GDP (billion won) 205,860.3 217,698.9 236,375.1 257,501.2 275,849.5 69,404.4 78,188.9 65,123.1 70,723.2

Growth rate of GDP 5.1 5.8 8.6 8.9 7.1 6.6 7.2 5.5 6.3

7. Money and banking (billion won)

1992 1993 1994 1995 1996 1997 JUN. JUL. AUG. SEP.

Bank notes & coins issued 9,808 13,884 15,089 17,324 17,907 15,656 15,662 15,528 15,595

Money supply (M1) 24,586 29,041 32,511 38,873 39,542 36,284 34,450 34,648 p35,497

Money supply (M2) 96,259 112,219 133,179 153,945 178,312 187,791 189,181 195,575 p197,903

Total liquidity (M3) 298,277 354,933 442,663 527,017 614,962 657,272 667,205 667,630 -

Ratio of dishonored (%) 0.12 0.13 0.17 0.20 0.17 0.29 0.30 0.27 0.40

Stock price index (average of period, 1980.1.4=100) 587.2 728.2 965.7 934.7 833.4 765.2 752.3 740.5 676.5

8. Household economy

1992 1993 1994 1995 1996 1996 3/4 4/4 1997 1/4 2/4

Average propensity to consume 72.1 72.6 71.8 71.0 71.8 66.5 73.1 71.5 71.2
Engel's coefficient 30.4 29.3 29.5 28.8 28.7 30.5 28.8 26.6 28.7

9. Foreign trade and exchange (million U.S.$)

1992 1993 1994 1995 1996 1997 JUN. JUL. AUG. SEP.

Exports 76,631.5 82,235.9 96,013.2 125,058.0 129,715.1 12,400.9 11,824.8 11,078.3 p11,537.2

L/C arrivals 52,352.3 55,594.7 64,314.1 72,926.3 69,732.8 5,885.3 5,910.4 5,528.8 p5,561.0

Imports 81,775.3 83,800.1 102,348.2 135,118.9 150,339.1 12,277.7 12,646.8 11,494.4 p11,545.9

I/L 67,525.4 73,273.8 102,834.8 136,886.7 149,215.6 - - - -

Exchange rates of won to U.S. dollar (won) 778.4 808.1 788.7 774.7 844.2 888.1 892.0 902.0 914.8

Gold & foreign exchange holdings (million U.S. dollars) 17,153.9 20,262.4 25,672.7 32,712.1 33,236.7 33,316.2 33,672.6 31,140.4 30,425.7

10. Balance of payments (million U.S.$)

1992 1993 1994 1995 1996 1997 JUN. JUL. AUG. SEP.

Current balance -4,528.5 384.6 -4,530.8 -8,947.6 -23,715.9 -302 p-988 p-761 p-426

Trade balance -2,146.4 1,860.2 -3,145.3 -4746.6 -15,306.1 364 p-319 p70 p-406

Invisible balance -2,614.3 -1,966.8 -1,989.2 -3,640.4 -7,645 -634 p-630 p-728 p-761

Long-term capital balance 7,232.7 8,899.8 5,861.9 7,827.3 11,797.1 2,287 p2,189 p978 p1,113

Liabilities 6,655.7 9,576.7 8,843.9 12,573.6 17,946.3 2,957.1 p2,543.9 p1,657.7 p1,483.6

Public loans -616.1 -1,763.6 -278.1 -519.4 -484.6 -54.0 P36.4 p-32.9 p-27.0

Commercial loans -535.5 -1,067.0 -342.8 -240.7 -152.0 137.4 p-18.7 p193.9 p54.4

Inward direct investment 551.0 515.7 757.5 1,239.7 1,952.9 64.5 p319.2 p253.3 p36.5

portfolio investment 5,760.9 11,022.3 7,275.7 8,915.2 12,092.3 2,439.9 p1,941.3 p958.9 p1,332.8

Others 1,495.4 869.3 1,431.6 3,178.7 4,537.7 369.3 p265.7 p283.7 p86.9

Assets (-, increase) 577.0 -676.9 -2,982.0 -4,746.2 -6149.2 -670.1 p-355.1 p-680.0 p-370.2

Outward direct investment -1,047.5 -1,056.0 -2,075.1 -3,119.8 -3,934.2 -330.2 p-298.4 p-443.3 p-159.3

Basic balance 2,704.2 9,284.4 1,341.1 -1,120.3 -11,918.8 1,984.7 p1,201.2 p227.2 p687.7

Short-term capital balance 1,109.9 -2,021.2 3,163.0 5,591.9 5,229.0 -11.5 p-332.3 p-1,023.0 p-670.6

Overall balance 4,898.1 6,542.2 2,821.7 3,034.4 -5,667.0 1,693.1 p446.6 p-1,795.7 p-978.0