Insurance and financial services in Korea
Korea: Insurance and financial services was 3.6% in 2025. ◆ Volatile
Insurance and financial services in Korea, 1976–2025
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of service imports, BoP.
Analysis
In 2025, insurance and financial services in Korea stood at 3.6%.
Compared with earlier readings it is down 11.8% on the previous year and up 58.3% over ten years.
Over the whole period, insurance and financial services in Korea peaked at 8.3% in 1976 and was at its lowest, -0.1%, in 1990.
Korea ranks 142nd of 197 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Insurance and financial services in Korea, year by year
| Year | % of service imports, BoP | Change |
|---|---|---|
| 1976 | 8.3% | — |
| 1977 | 6.2% | -25.1% |
| 1978 | 5.0% | -19.5% |
| 1979 | 5.5% | +9.4% |
| 1980 | 0.4% | -92.4% |
| 1981 | 0.5% | +21.5% |
| 1982 | 0.9% | +73.2% |
| 1983 | 0.5% | -46.9% |
| 1984 | 3.8% | +721.3% |
| 1985 | 2.9% | -25.1% |
| 1986 | 2.3% | -19.2% |
| 1987 | 1.0% | -58.4% |
| 1988 | 1.3% | +38.5% |
| 1989 | 0.4% | -68.9% |
| 1990 | -0.1% | -122.1% |
| 1991 | 0.2% | -347.5% |
| 1992 | 1.4% | +509.1% |
| 1993 | 1.3% | -3.9% |
| 1994 | 1.4% | +8.7% |
| 1995 | 1.5% | +3.5% |
| 1996 | 1.0% | -30.6% |
| 1997 | 0.8% | -22.5% |
| 1998 | 1.0% | +28.0% |
| 1999 | 0.3% | -74.3% |
| 2000 | 1.0% | +282.8% |
| 2001 | 1.4% | +36.9% |
| 2002 | 1.7% | +25.7% |
| 2003 | 1.2% | -30.3% |
| 2004 | 1.2% | -3.5% |
| 2005 | 1.6% | +39.3% |
| 2006 | 2.2% | +33.8% |
| 2007 | 2.8% | +28.6% |
| 2008 | 2.6% | -8.8% |
| 2009 | 3.9% | +52.3% |
| 2010 | 2.9% | -25.7% |
| 2011 | 2.6% | -8.4% |
| 2012 | 2.8% | +7.3% |
| 2013 | 2.7% | -4.7% |
| 2014 | 2.2% | -19.5% |
| 2015 | 2.3% | +4.5% |
| 2016 | 2.4% | +5.3% |
| 2017 | 2.5% | +4.5% |
| 2018 | 2.0% | -18.7% |
| 2019 | 2.4% | +19.8% |
| 2020 | 2.9% | +20.7% |
| 2021 | 3.1% | +5.0% |
| 2022 | 2.3% | -24.4% |
| 2023 | 3.9% | +66.6% |
| 2024 | 4.1% | +4.9% |
| 2025 | 3.6% | -11.8% |
Korea compared with similar countries
- Korea's 3.6% is below the median for high income countries, which is 6.2%, 58% of the median. (72 countries reporting)
- Korea's 3.6% is below the median for East Asia & Pacific, which is 4.9%, 73% of the median. (32 countries reporting)
Biggest year-on-year movements
Years where Insurance and financial services in Korea changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1984 | +721.3% | 0.5% | 3.8% |
| 1992 | +509.1% | 0.2% | 1.4% |
| 1991 | +347.5% | -0.1% | 0.2% |
| 2000 | +282.8% | 0.3% | 1.0% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 6.3% | 5.0% | 8.3% | 4 |
| 1980s | 1.4% | 0.4% | 3.8% | 10 |
| 1990s | 0.9% | -0.1% | 1.5% | 10 |
| 2000s | 2.0% | 1.0% | 3.9% | 10 |
| 2010s | 2.5% | 2.0% | 2.9% | 10 |
| 2020s | 3.3% | 2.3% | 4.1% | 6 |
Countries ranked near Korea
- 139 Norway 3.7% compare
- 140 Solomon Islands 3.7% compare
- 141 Curaçao 3.7% compare
- 143 Uzbekistan 3.5% compare
- 144 Sri Lanka 3.5% compare
- 145 Cape Verde 3.5% compare
More economy & growth data for Korea
- Foreign direct investment, net outflows (BoP, current US$), gaps 41.23 billion BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.022 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita 797.74 BoP, current US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 15.80 billion BoP, current US$ (2025)
- Foreign direct investment, net inflows (BoP, current US$), annual 22.87 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0084 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita 305.78 BoP, current US$ per person (2025)
- Total reserves (includes gold, current US$), annual growth rate 4.39 % change on previous year (2025)
- Total reserves (includes gold, current US$), per unit of GDP 0.2332 includes gold, current US$ per US$ of GDP (2025)
- Total reserves (includes gold, current US$), per capita 8,447 includes gold, current US$ per person (2025)
Frequently asked questions
- What is insurance and financial services in Korea?
- Insurance and financial services in Korea was 3.6% in 2025, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest insurance and financial services recorded in Korea?
- The highest recorded value was 8.3% in 1976.
- What is the lowest insurance and financial services recorded in Korea?
- The lowest recorded value was -0.1% in 1990.
- How does Korea rank for insurance and financial services?
- Korea ranks 142nd out of 197 countries with data for 2025.
- Is insurance and financial services rising or falling in Korea?
- Over the last ten years it is up 58.3%. The long-run trend across the full record is volatile.
- Where does this Korea data come from?
- The figures come from Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Insurance and financial services (% of service imports, BoP). Statizoid updates them automatically from the source API.
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About this data
Insurance and financial services cover various types of insurance provided to nonresidents by resident insurance enterprises and vice versa, and financial intermediary and auxiliary services (except those of insurance enterprises and pension funds) exchanged between residents and nonresidents. This indicator is expressed as a percentage of service imports which are services provided by non-residents to residents.