In-depth Analysis of Key Economic and Social Issues on May 2, 2025
Key Keywords: Export growth rate, Export trends by region, Trade balance, Information security investment, Industrial accidents, US-China relationship risks, Supplementary budget, Political schedule, Corporate asset ranking, Bank NIM, University enrollment increase, Public institution threat, S&P 500, India poverty rate, Global military expenditure, Future industry prospects, Automobile sales, Ghana imports, Journalists imprisoned, Rare earth supply, Global manufacturing scale, US GDP, GDP per capita
Page 1: Analysis of Major Item-Specific Export Trends in April 2025
In April 2025, South Korea's overall exports continued their growth trend, increasing by 3.7% compared to the same month last year. Notably, exports of high-tech industrial items such as wireless communication devices (26.5%↑), ships (17.3%↑), semiconductors (17.2%↑), bio-health (14.6%↑), and secondary batteries (13.7%↑) showed remarkable growth. Conversely, some items experienced a decrease in exports, including computers (-15.3%↓), petroleum products (-14.4%↓), petrochemicals (-13.1%↓), displays (-7.6%↓), home appliances (-4.5%↓), automobiles (-3.8%↓), and textiles (-3.4%↓). This indicates that South Korea's export economy has a high dependence on specific items, and performance can vary depending on global market conditions.
Page 2: Analysis of Export Growth Trends by Major Region from November 2024 to April 2025
As of April 2025, an analysis of export performance by major region revealed that exports to the European Union (EU) recorded the highest growth rate at 18.4%. Exports to the United States (4.5%↑) and ASEAN (3.9%↑) also showed positive trends. However, exports to China decreased by 6.8%, marking the only negative growth among major regions and confirming the continued sluggishness of exports to China. This highlights the need for diversification in South Korea's export markets and the risks associated with excessive dependence on a specific region.
Pages 3 & 9: Analysis of Export/Import Trends, Trade Balance, and US Q1 GDP
In April 2025, South Korea achieved a trade surplus of $4.9 billion, with exports of $58.2 billion and imports of $53.3 billion. This signifies a sustained trend of trade surplus throughout 2025. Meanwhile, the US economic indicators presented on page 3 show that the US real GDP growth rate in the first quarter of 2025 was -0.3%, suggesting that the economic slowdown of the United States, a crucial axis of the global economy, requires attention for its potential impact on the South Korean economy. (Page 9 contains redundant information on export/import and trade balance from Page 3.)
Page 4: Analysis of Information Security Investment by Major Domestic Mobile Carriers
Information security investments by the three major domestic mobile carriers (KT, SKT, LGU+) have steadily increased since 2021, reaching a total of KRW 1.218 trillion in 2024. KT recorded the largest investment at KRW 867 billion in 2024, and LGU+ also significantly increased its investment to KRW 442 billion in 2024, nearly doubling its 2021 figure, demonstrating an active move to strengthen information security. This reflects the growing importance of network stability and security in the digital transformation era, leading mobile carriers to expand their investments in information protection.
Page 5: Analysis of Industrial Accident Fatalities in 2024
In 2024, a total of 827 deaths were recorded for which survivor benefits were approved due to industrial accidents. By industry, construction accounted for the highest proportion at 39.7%, followed by manufacturing (22.6%), services (17.5%), and transportation, warehousing, and communication (16.7%). By age group, those aged 60 and above accounted for nearly half at 48.9%, indicating a severe risk of industrial accidents among the elderly. By type of accident, falls accounted for an overwhelming majority at 55.5%, emphasizing the urgent need to strengthen safety management in construction sites and other high-risk environments.
Page 6: Forecast of the Impact of US-China Relationship Risks on South Korean Manufacturing
A survey revealed that the deepening risks in the US-China relationship are expected to decrease the average sales of South Korean companies by 4.0% in 2026. Particularly, the semiconductor (-8.7%), automobile/parts (-7.5%), and machinery/precision equipment (-7.2%) industries are projected to be significantly affected by the US-China conflict. On the other hand, some industries, such as shipbuilding/defense and bio/healthcare, are expected to experience relatively less impact or even positive effects. This suggests that the South Korean economy is vulnerable to geopolitical risks stemming from the US-China conflict, and the impact may vary across different industries.
Pages 7 & 8: Analysis of the Scale of Supplementary Budgets by Previous Governments and the 2025 Supplementary Budget
Supplementary budgets under previous governments were formulated for various purposes, including economic recession, disaster response, employment stabilization, and overcoming the COVID-19 pandemic, with varying scales depending on the specific circumstances of each administration. The supplementary budget for 2025, finally approved by the National Assembly, was set at KRW 13.8 trillion, an increase of KRW 1.6 trillion from the government's proposal of KRW 12.2 trillion. Major items with increased allocations include KRW 4 trillion for local currency gift certificates, KRW 200 billion for wildfire damage and agricultural/fishery support, KRW 1.157 trillion for university student loans, and KRW 800 billion for social overhead capital (SOC). This indicates that the government's fiscal policy is focused on economic revitalization and support for vulnerable social groups.
Page 10: Analysis of Major Political Schedule on May 1st
The political events of May 1st began with the announcement of major decisions related to the Democratic Party of Korea, followed by Prime Minister Han Duck-soo's expression of intent to resign and President Yoon Suk-yeol's acceptance of the resignation. Subsequently, the National Assembly convened its plenary session, where discussions were held on the adoption of the confirmation hearing report for nominee Choi Sang-mok for Deputy Prime Minister and Minister of Economy and Finance, followed by the deliberation and voting on the supplementary budget. Finally, the motion for the appointment of Choi Sang-mok was passed at the National Assembly's plenary session. This timeline illustrates the rapid processing of key political issues on that day.
Page 11: Analysis of the Asset Ranking of the Top 10 Groups and Major Companies in 2025
As of 2025, Samsung Group held the overwhelming top position with assets of KRW 589.1 trillion, followed by SK (KRW 363.0 trillion) and Hyundai Motor (KRW 306.6 trillion). Some groups, including Lotte, POSCO, HD Hyundai, and NongHyup, experienced changes in their rankings compared to the previous year. Notably, Bithumb newly entered the ranking at 90th place with assets of KRW 5.2 trillion, reflecting the growth of cryptocurrency exchanges. This provides important indicators of the asset scale and changes among major companies leading the South Korean economy.
Page 12: Analysis of Net Interest Margin (NIM) and Loan Interest Rate Trends in the Domestic Banking Sector
The net interest margin (NIM) of domestic commercial banks slightly decreased from 2.11% in the first quarter of 2024 to 1.98% in the first quarter of 2025, indicating a slight weakening in the interest income profitability of banks. The average interest rate on household loans also showed a downward trend, starting at 4.76% in November 2024 and falling to 4.32% in March 2025. This suggests that changes in the financial market environment and government policies are influencing the profitability of banks and loan interest rates.
Page 13: University Enrollment Increase and Public Institution Bomb Threat Incident
The first article raises concerns about the 'tripling' phenomenon and the potential decline in the quality of education due to the increase in university enrollment quotas. It emphasizes the need for in-depth discussions on the standardization and quality management of education due to the decrease in college entrance competition and the increase in new students. The second article reports the arrest of eight suspects in connection with the bomb threat incident at a public institution in Gyeryong City, demonstrating the swift response of the investigative authorities to crimes that could cause social unrest.
Page 14: Analysis of S&P 500 Index's Worst Start Rankings
In 2025, the S&P 500 index recorded a -10.2% return in its first 73 trading days, marking its fifth-worst start since 1932. This indicates that the US stock market experienced a historically poor start in early 2025, suggesting the need for caution regarding future market volatility. While past examples can provide insights into whether the early slump will continue through the end of the year, the final outcome for 2025 remains uncertain.
Page 15: Analysis of India's Poverty Rate
According to a survey using multidimensional poverty indicators, India's average poverty rate is 14.96%. Notably, some states, such as Bihar (22.93%), Uttar Pradesh (20.63%), and Jharkhand (16.37%), showed poverty rates higher than the national average, indicating significant regional disparities in poverty levels. This highlights the need for national-level efforts to address poverty in India, along with tailored policies that consider regional characteristics.
Page 16: Analysis of Global Military Expenditure Share by Country in 2024
In 2024, the United States accounted for 37.0% of global military expenditure, holding the overwhelming top position. China (12.0%) and Russia (5.5%) followed with significant shares, and countries such as Germany, India, the United Kingdom, Saudi Arabia, and Ukraine also recorded substantial military spending. This indicates that global military power dynamics are centered around the United States, China, and Russia, with each country's security environment and strategic decisions influencing their military expenditure.
Page 17: Forecast of Major Industries Expected in 2040
By 2040, e-commerce is projected to be the largest industry with a scale of $20 trillion. Following this are AI software ($4.6 trillion), cloud services ($3.4 trillion), electric vehicles ($3.2 trillion), digital advertising ($2.9 trillion), and semiconductors ($2.4 trillion), which are also expected to form large-scale industries in the future economy. This suggests that the development of digital and eco-friendly technologies will fundamentally transform the future industrial structure.
Page 18: Analysis of Sales Growth Rate of Major Automobile Brands and Tesla's European Sales Trends
An analysis of the sales changes of major automobile brands from February 2024 to February 2025 revealed that Tesla's European sales increased by 44% compared to the same period last year, showing high growth. Renault and BYD also recorded high sales growth rates of 197% and 95%, respectively, while Genesis and Smart experienced significant sales declines. This highlights the intensifying competition among brands in the automotive market, along with the growth trend of the electric vehicle market.
Page 19: Analysis of Ghana's Major Import Item Composition Ratio in 2024
In 2024, Ghana's total import value was 250.1 billion Ghanaian Cedis (GHC). Among import items, other items accounted for the largest share at 66.6%, followed by manufactured goods and raw materials (11.9%) and fuel (11.6%). Among manufactured goods and raw materials, food imports accounted for 23.5%. This indicates that Ghana's import structure is not concentrated in specific items but consists of various 'other items' along with a significant portion of manufactured goods and fuel, with a high dependence on basic food imports.
Page 20: Analysis of the Number of Journalists Imprisoned Worldwide from 2014 to 2024
The number of journalists imprisoned worldwide in connection with their profession has remained relatively high over the past decade, with 361 journalists imprisoned in 2024. The consistently high number, ranging from the late 200s to the mid-300s since 2018, is a concerning reality indicating that freedom of the press continues to face serious threats globally.
Page 21: Analysis of Rare Earth Supply Share by Country from 2020 to 2023
As of 2023, China accounted for 70% of the global rare earth supply, reaffirming its dominant position as a supplier. Myanmar (13%) and Australia (6%) followed, but the gap with China is significant. Rare earth elements are essential materials in various high-tech industries, including magnets, polishing/catalysts, and alloys, and are 100% utilized in the magnet sector, such as small motors, sensors, and wind turbines. This highlights the very high dependence on China for the supply of rare earth elements and their crucial role in various advanced industries, emphasizing the need for supply chain diversification.
Page 22: Analysis of Global Manufacturing Scale by Country in 2023
In 2023, China had the largest global manufacturing scale at $4.8 trillion. The United States ranked second at $2.8 trillion, and Japan and Germany jointly ranked third at $0.8 trillion each. South Korea's manufacturing scale was $0.5 trillion, relatively small compared to the top-ranking countries. This data illustrates the global manufacturing landscape and helps in understanding the manufacturing competitiveness of major countries, suggesting the continuous need for efforts to strengthen South Korea's manufacturing competitiveness.
Page 23: Analysis of US Quarterly Real GDP Growth Rate Trends from Q1 2007 to Q1 2025
The US quarterly real GDP growth rate has shown significant volatility in response to major economic events such as the financial crisis and the COVID-19 pandemic. While maintaining relatively stable growth in recent quarters, the real GDP growth rate in the first quarter of 2025 recorded -0.3%, indicating a temporary slowdown in growth. This suggests that if the growth momentum of the US economy, a significant part of the global economy, falters, it could have repercussions for the global economy, warranting continuous attention and preparation.
Page 24: Comparison of GDP per Capita (PPP) Rankings and Changes of 23 Major Countries in 1994 and 2024
Comparing 1994 and 2024, South Korea's GDP per capita (PPP) increased by 203% to $55,000, ranking 22nd and demonstrating significant economic growth over the past 30 years. The United States ranked 5th with $80,000, Japan ranked 10th with $56,000, and China ranked 7th with $20,000, allowing for a comparison of the economic development levels and changes of each country. This suggests that it is important for South Korea to seek ways to sustain qualitative growth beyond quantitative growth.
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