South Korea Insurance Premium Penetration (% of GDP) (2023)
South Korea's Insurance Premium Penetration (% of GDP): 9.9 % of GDP in 2023, -1pp YoY. OECD (OECD.DAF.CM:DSD_INS@DF_IND), 2000–2023.
South Korea (2023)
9.9
% of GDP
-1pp YoY
YoY Change
-1pp
percentage points
Trend
down
Series length
24
years of data
Data
| Year | % of GDP | YoY Change |
|---|---|---|
| 2023 | 9.9 | -1pp |
| 2022 | 10.9 | +0.7pp |
| 2021 | 10.2 | -0.6pp |
| 2020 | 10.8 | +0.4pp |
| 2019 | 10.4 | +0.5pp |
| 2018 | 9.9 | -0.6pp |
| 2017 | 10.5 | -0.6pp |
| 2016 | 11.1 | -0.2pp |
| 2015 | 11.3 | -0.1pp |
| 2014 | 11.4 | +0.2pp |
| 2013 | 11.2 | -0.4pp |
| 2012 | 11.6 | +1.6pp |
| 2011 | 10 | +0.5pp |
| 2010 | 9.5 | +0.1pp |
| 2009 | 9.4 | +0.2pp |
| 2008 | 9.2 | -0.2pp |
| 2007 | 9.4 | +0.2pp |
| 2006 | 9.2 | +0.5pp |
| 2005 | 8.7 | +0.6pp |
| 2004 | 8.1 | -0.1pp |
About this Dataset
South Korea recorded 9.9 % of GDP in 2023. The latest change was -1pp. Across 2000–2023 the series ranges from 8.1 % of GDP in 2004 to 11.6 % of GDP in 2012.
This page tracks total insurance gross written premiums as a share of GDP in South Korea. Insurance penetration is the primary measure of financial services sector development and household risk protection depth.
Data sourced from OECD via SDMX REST API. Values use harmonised methodology intended for cross-country comparison.
Frequently Asked Questions
This page tracks total insurance gross written premiums as a share of GDP in South Korea. Insurance penetration is the primary measure of financial services sector development and household risk protection depth. It is published by OECD and updated annually.
The most recent observation covers 2023. OECD typically publishes this series with a lag of several months after the reference period. The series runs 2000–2023 (24 observations).
The series peaked at 11.6 % of GDP in 2012 and reached its lowest recorded value of 8.1 % of GDP in 2004. The latest reading is 9.9 % of GDP in 2023. The latest change was -1pp.