{"version":1,"asset_type":"statistical_series","data_type":"time_series","slug":"kr-life-insurance-penetration-gdp","url":"https://apiardata.com/statistics/kr-life-insurance-penetration-gdp","html_url":"https://apiardata.com/statistics/kr-life-insurance-penetration-gdp/","title":"South Korea Life Insurance Premium Penetration (% of GDP) (2023)","description":"South Korea's Life Insurance Premium Penetration (% of GDP): 4.7 % of GDP in 2023, -1pp YoY. OECD (OECD.DAF.CM:DSD_INS@DF_IND), 2000–2023.","domain":"markets","category":"Financial Markets","keywords":["Financial Markets","OECD","South Korea","2023"],"publisher":"OECD","frequency":"Annual","geography":"South Korea","temporal_coverage":"2000/2023","unit":"% of GDP","last_updated":"2026-07-27","last_updated_text":"27 July 2026","data_as_of":"2023","variable_measured":"South Korea Life Insurance Premium Penetration (% of GDP)","license":"https://apiardata.com/data-license","is_accessible_for_free":true,"sources":[{"name":"OECD","url":"https://data-explorer.oecd.org/vis?fs[0]=Topic%2C0%7CFinancial+sector%23FIN%23&pg=0&fc=Topic&bp=true&snb=10"}],"meta":[{"label":"Frequency","value":"Annual"},{"label":"Coverage","value":"2000–2023"},{"label":"Observations","value":"24"},{"label":"Geography","value":"South Korea"},{"label":"Last updated","value":"27 July 2026"}],"kpis":[{"label":"South Korea (2023)","value":"4.7","unit":"% of GDP","trend":{"direction":"down","value":"-1pp YoY"}},{"label":"YoY Change","value":"-1pp","unit":"percentage points"},{"label":"Trend","value":"down","unit":""},{"label":"Series length","value":"24","unit":"years of data"}],"series":[{"key":"value","label":"South Korea Life Insurance Premium Penetration (% of GDP)"}],"observation_count":24,"observations":[{"period":"2000","value":8.16},{"period":"2001","value":6.464},{"period":"2002","value":6.034},{"period":"2003","value":5.805},{"period":"2004","value":5.701},{"period":"2005","value":6.176},{"period":"2006","value":6.355},{"period":"2007","value":6.503},{"period":"2008","value":6.184},{"period":"2009","value":6.01},{"period":"2010","value":5.867},{"period":"2011","value":5.982},{"period":"2012","value":7.12},{"period":"2013","value":6.91},{"period":"2014","value":6.749},{"period":"2015","value":6.733},{"period":"2016","value":6.536},{"period":"2017","value":5.892},{"period":"2018","value":5.523},{"period":"2019","value":5.746},{"period":"2020","value":5.81},{"period":"2021","value":5.349},{"period":"2022","value":5.71},{"period":"2023","value":4.681}],"table":{"columns":[{"key":"year","label":"Year"},{"key":"value","label":"% of GDP"},{"key":"yoyChange","label":"YoY Change"}],"rows":[{"year":"2023","value":"4.7","yoyChange":"-1pp"},{"year":"2022","value":"5.7","yoyChange":"+0.4pp"},{"year":"2021","value":"5.3","yoyChange":"-0.5pp"},{"year":"2020","value":"5.8","yoyChange":"+0.1pp"},{"year":"2019","value":"5.7","yoyChange":"+0.2pp"},{"year":"2018","value":"5.5","yoyChange":"-0.4pp"},{"year":"2017","value":"5.9","yoyChange":"-0.6pp"},{"year":"2016","value":"6.5","yoyChange":"-0.2pp"},{"year":"2015","value":"6.7","yoyChange":"unchanged"},{"year":"2014","value":"6.7","yoyChange":"-0.2pp"},{"year":"2013","value":"6.9","yoyChange":"-0.2pp"},{"year":"2012","value":"7.1","yoyChange":"+1.1pp"},{"year":"2011","value":"6.0","yoyChange":"+0.1pp"},{"year":"2010","value":"5.9","yoyChange":"-0.1pp"},{"year":"2009","value":"6.0","yoyChange":"-0.2pp"},{"year":"2008","value":"6.2","yoyChange":"-0.3pp"},{"year":"2007","value":"6.5","yoyChange":"+0.1pp"},{"year":"2006","value":"6.4","yoyChange":"+0.2pp"},{"year":"2005","value":"6.2","yoyChange":"+0.5pp"},{"year":"2004","value":"5.7","yoyChange":"-0.1pp"}]},"qa":[{"question":"What does this indicator measure?","answer":"This page tracks life insurance gross written premiums as a share of GDP in South Korea from 2000 to present. Life insurance penetration measures the depth of long-term savings mobilisation through the insurance channel. It is published by OECD and updated annually."},{"question":"How current is this data?","answer":"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)."},{"question":"What is the long-term trend?","answer":"The series peaked at 8.2 % of GDP in 2000 and reached its lowest recorded value of 4.7 in 2023. The latest reading of 4.7 in 2023 represents a change of -1pp."}]}