{"version":1,"asset_type":"statistical_series","data_type":"time_series","slug":"kr-non-life-insurance-penetration-gdp","url":"https://apiardata.com/statistics/kr-non-life-insurance-penetration-gdp","html_url":"https://apiardata.com/statistics/kr-non-life-insurance-penetration-gdp/","title":"South Korea Non-Life Insurance Premium Penetration (% of GDP) (2023)","description":"South Korea's Non-Life Insurance Premium Penetration (% of GDP): 5.2 % of GDP in 2023, unchanged 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 Non-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":"5.2","unit":"% of GDP","trend":{"direction":"neutral","value":"unchanged YoY"}},{"label":"YoY Change","value":"unchanged","unit":"percentage points"},{"label":"Trend","value":"neutral","unit":""},{"label":"Series length","value":"24","unit":"years of data"}],"series":[{"key":"value","label":"South Korea Non-Life Insurance Premium Penetration (% of GDP)"}],"observation_count":24,"observations":[{"period":"2000","value":2.586},{"period":"2001","value":2.553},{"period":"2002","value":2.536},{"period":"2003","value":2.404},{"period":"2004","value":2.403},{"period":"2005","value":2.508},{"period":"2006","value":2.829},{"period":"2007","value":2.904},{"period":"2008","value":3.05},{"period":"2009","value":3.345},{"period":"2010","value":3.644},{"period":"2011","value":3.997},{"period":"2012","value":4.495},{"period":"2013","value":4.271},{"period":"2014","value":4.674},{"period":"2015","value":4.595},{"period":"2016","value":4.61},{"period":"2017","value":4.567},{"period":"2018","value":4.396},{"period":"2019","value":4.684},{"period":"2020","value":4.97},{"period":"2021","value":4.847},{"period":"2022","value":5.169},{"period":"2023","value":5.214}],"table":{"columns":[{"key":"year","label":"Year"},{"key":"value","label":"% of GDP"},{"key":"yoyChange","label":"YoY Change"}],"rows":[{"year":"2023","value":"5.2","yoyChange":"unchanged"},{"year":"2022","value":"5.2","yoyChange":"+0.4pp"},{"year":"2021","value":"4.8","yoyChange":"-0.2pp"},{"year":"2020","value":"5.0","yoyChange":"+0.3pp"},{"year":"2019","value":"4.7","yoyChange":"+0.3pp"},{"year":"2018","value":"4.4","yoyChange":"-0.2pp"},{"year":"2017","value":"4.6","yoyChange":"unchanged"},{"year":"2016","value":"4.6","yoyChange":"unchanged"},{"year":"2015","value":"4.6","yoyChange":"-0.1pp"},{"year":"2014","value":"4.7","yoyChange":"+0.4pp"},{"year":"2013","value":"4.3","yoyChange":"-0.2pp"},{"year":"2012","value":"4.5","yoyChange":"+0.5pp"},{"year":"2011","value":"4.0","yoyChange":"+0.4pp"},{"year":"2010","value":"3.6","yoyChange":"+0.3pp"},{"year":"2009","value":"3.3","yoyChange":"+0.3pp"},{"year":"2008","value":"3.0","yoyChange":"+0.1pp"},{"year":"2007","value":"2.9","yoyChange":"+0.1pp"},{"year":"2006","value":"2.8","yoyChange":"+0.3pp"},{"year":"2005","value":"2.5","yoyChange":"+0.1pp"},{"year":"2004","value":"2.4","yoyChange":"unchanged"}]},"qa":[{"question":"What does this indicator measure?","answer":"This page tracks non-life insurance (P&C) gross written premiums as a share of GDP in South Korea from 2000 to present. Non-life penetration measures commercial risk transfer capacity and SME insurance coverage depth. 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 5.2 % of GDP in 2023 and reached its lowest recorded value of 2.4 in 2004. The latest reading of 5.2 in 2023 is unchanged on the previous period."}]}