In 2022, real gross capital formation for Republic of Korea was 578,412,300 million LCU. Real gross capital formation of Republic of Korea increased from 18,813,100 million LCU in 1973 to 578,412,300 million LCU in 2022 growing at an average annual rate of 7.84%.
The description is composed by our digital data assistant.Gross capital formation (also known as gross domestic investment) consists of outlays on additions to the fixed assets of the economy plus net changes in the level of inventories. Fixed assets include land improvements (fences, ditches, drains, and so on); plant, machinery, and equipment purchases; and the construction of roads, railways, and the like, including schools, offices, hospitals, private residential dwellings, and commercial and industrial buildings. Inventories are stocks of goods held by firms to meet temporary or unexpected fluctuations in production or sales, and 'work in progress'. According to the 1993 SNA, net acquisitions of valuables are also considered capital formation.
| Date | Value | Change, % |
|---|---|---|
| 2022 | 578,412,300,000,000 | -0.25% |
| 2021 | 579,842,400,000,000 | 2.91% |
| 2020 | 563,419,400,000,000 | 0.89% |
| 2019 | 558,468,900,000,000 | -1.92% |
| 2018 | 569,403,600,000,000 | -1.32% |
| 2017 | 576,996,700,000,000 | 10.90% |
| 2016 | 520,296,300,000,000 | 6.27% |
| 2015 | 489,601,500,000,000 | 6.51% |
| 2014 | 459,678,600,000,000 | 3.55% |
| 2013 | 443,910,700,000,000 | 1.01% |
| 2012 | 439,479,100,000,000 | -2.63% |
| 2011 | 451,364,400,000,000 |