Korea - Domestic credit to private sector by banks (% of GDP)

Domestic credit to private sector by banks (% of GDP) in Korea was 164.78 as of 2020. Its highest value over the past 60 years was 164.78 in 2020, while its lowest value was 4.86 in 1960.

Definition: Domestic credit to private sector by banks refers to financial resources provided to the private sector by other depository corporations (deposit taking corporations except central banks), such as through loans, purchases of nonequity securities, and trade credits and other accounts receivable, that establish a claim for repayment. For some countries these claims include credit to public enterprises.

Source: International Monetary Fund, International Financial Statistics and data files, and World Bank and OECD GDP estimates.

See also:

Year Value
1960 4.86
1961 11.14
1962 12.52
1963 10.41
1964 8.34
1965 9.88
1966 10.68
1967 16.82
1968 25.50
1969 31.92
1970 32.87
1971 34.94
1972 34.05
1973 34.19
1974 35.28
1975 33.02
1976 30.22
1977 29.37
1978 32.13
1979 34.88
1980 39.74
1981 40.11
1982 43.73
1983 43.23
1984 42.82
1985 45.38
1986 44.68
1987 43.08
1988 40.42
1989 44.86
1990 47.04
1991 46.99
1992 46.20
1993 45.95
1994 46.69
1995 45.94
1996 49.09
1997 54.21
1998 59.32
1999 64.91
2000 70.17
2001 103.23
2002 112.65
2003 111.12
2004 105.86
2005 110.30
2006 122.22
2007 129.14
2008 141.95
2009 138.09
2010 130.04
2011 132.54
2012 130.75
2013 128.49
2014 131.56
2015 132.14
2016 134.83
2017 136.49
2018 141.16
2019 151.26
2020 164.78

Development Relevance: Private sector development and investment - tapping private sector initiative and investment for socially useful purposes - are critical for poverty reduction. In parallel with public sector efforts, private investment, especially in competitive markets, has tremendous potential to contribute to growth. Private markets are the engine of productivity growth, creating productive jobs and higher incomes. And with government playing a complementary role of regulation, funding, and service provision, private initiative and investment can help provide the basic services and conditions that empower poor people - by improving health, education, and infrastructure.

Limitations and Exceptions: Credit to the private sector may sometimes include credit to state-owned or partially state-owned enterprises.

Statistical Concept and Methodology: Credit is an important link in money transmission; it finances production, consumption, and capital formation, which in turn affect economic activity. The data on domestic credit provided to the private sector by banks are taken from the other depository corporations survey (line 22D) of the International Monetary Fund's (IMF) International Financial Statistics. The other depository corporations include all deposit taking corporations (deposit money banks) except monetary authorities (the central bank).

Aggregation method: Weighted average

Periodicity: Annual

Classification

Topic: Financial Sector Indicators

Sub-Topic: Assets