South Korea: Financial institutions development, depth

The latest value from 2021 is 0.859 index points, a decline from 0.866 index points in 2020. In comparison, the world average is 0.291 index points, based on data from 175 countries. Historically, the average for South Korea from 1980 to 2021 is 0.58 index points. The minimum value, 0.417 index points, was reached in 1980 while the maximum of 0.866 index points was recorded in 2020. See the global rankings for that indicator or use the country comparator to compare trends over time.

Definition: Measures the development of financial institutions in terms of depth. Constructed as a principal component of the following variables: Private-sector credit to GDP; Pension fund assets to GDP; Mutual fund assets to GDP; and Insurance premiums, life and non-life, to GDP. See Svirydzenka, Katsiaryna (IMF, 2016) for more detail.