RETURN TO RESTRICTED__ REPORQTS D:'S CIRCULATING COPY WITHIN 0 BE RETURnED TO REPORTS DDESK- EAP4 ONE WEEK S G FIES Vol. 3 This report was prepared for use within the Bank and its affiliated organizations. They-do not accept responsibility for its accuracy or completeness. The report may not be published nor may it be quoted as representing their views. INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT INTERNATIONAL DEVELOPMENT ASSOCIATION CURRENT ECONOMIC POSITION AND PROSPECTS OF THE REPUBLIC OF KOREA (in three volumes) VOLUME III STATISTICAL APPENDIX March 10. 1969 East Asia and Pacific Department CURR ENCY EQUIVALENTS U.S. $1.00 Won 280 Won 1.000 U.S. $3. 57 Won 1, 000, 000 U. S. $3, 571 This report is based on the findings of an Economic Mission which visited the Republic of Korea in October-November 1968. The Mission was composed of the following members: Shu-Chin Yang (Chief) Guenter H. Reif George J. Beier Vinod Dubey Michael A. Gould TABLE OF CONTENTS VOLUPE III STATISTICAL APPENDIX Table No. A. EXTM,4AL DEBT 1 External Public Debt Outstanding 2 Estimated Future Service Payments on External Public Debt B. NATIONAL ACCOUNTS 3 Expenditure on GNP Industrial Origin of GNP 5 Composition of Gross Domestic Capita:l Formation C. POPULATION 6 Population Trends D. AGRICULTURE 7 Cultivated Land Area Under Major Crops 8 Rice Planted Area Classified by Conditions of Irrigation 9 Production of Agricultural Crops 10 Yields Per Hectare of' Major Crops 11 Imports of Foodgrains 12 Number of Livestock and Output of Livestock Products 13 Number and Tonnage of Fishing Vessels 14 Agricultural Credits Extended by Types, Sources and Terms E. MAUNUFACTURING 15 Gross Value Added in Mining and Manufacturing 16 Share in Gross Value Added of Manufacturing Industries by Size of Establishments Table No. E. iANUFACTURING (Cont'd) 17 Trends of Labor Productivity and Real Wages in Manufacturing Industries 18 International Comparison of Money Wages F. ELECTRIC POWER 19 Development of Power Sector G. TRANSPORTATION 20 Growth of Domestic Traffic 21 Railroad and Rolling Stocks 22 Number of Registered Automobiles 23 Ocean and Coastal Fleet H. EXTERNAL TRADE 24 Growth and Commodity Composition of Exports 25 Analysis of Growth and Commodity Composition of Exports 26 Exports to Principal Countries by lviajor Commodities 27 Imports by Sources of Funds and by Commodity Structure 28 Imports by Sources of Funds and by Countries 29 Growth and Commodity Composition of Imports 30 Analysis of Growth and Commodity Composition of Imports I. BALANCE OF PAYiENT', 31 Receipts and Payments on Goods and Services 32 Balance of Payments J. PUBLIC FINAANCE 33 Public Revenue and Expenditures 34 Functional Classification of Central Government Expenditures 35 Estimated Effects on Revenues of Tax Reform K. HMONEY, CREDIT AND PRICES 36 Special Financial Institutions: Fiscal Funds Compared to Credit Expansion 37 Outstanding Loans and Discounts of Banking Institutions 38 ivioney Supply and Principal Factors Affecting It 39 Wholesale and Consumer Price Indices Table 1: KOREA - EXTERNAL PUBLIC DEBT OUTSTANDING AS OF JUNE 30, 1968 /1 Debt Repayable in Foreign Currency (In thousands of U.S. dollars) Debt outstanding June 30, 1968 Item Disbursed Including only undisbursed TOTAL EXTERNAL PUBLIC DEBT 787,o55 1,421,169 Privately held. debt 513,797 944,167 Suppliers 495299 901,779 France 15T,523 Glermany (Fed. Rep. of) 53,883 105,810 Italy 2,770 64,699 Japan 149,000 270,369 Netherlands 165 165 Norway 3,901 5,221 Sweden 2,320 24,421 Switzerland 4,863 8,118 United Kingdom 5,328 14,101 United States 80,830 175,434 Others 64,191 64,191 Unknown (Shippers' usances) 112,625 123,727 Financial institutions 18,498 42,388 United Kingdom - 22,97 United States 12,841 13,584 Unknown (Cash loans) 5,657 5,836 Loans from international organizations 14,034 29,993 IB.RD - 5,00 IDA .14,034 24,993 Loans from governments 259,224 447,009 Canada - 925 Germany (Fed. Rep. of) 26,143 30,314 Japan . 46,156 87,309 United Kingdom 1,037 1,200 United States 185,888 327,261 /1 Debt with an original or extended maturity of one year or more. Statistical Services Division Economics Department March 3, 1969 Table 2: KOREA - ESTIMATED FUTURE SERVICE PAYMENTS ON EXTERNAL PUBLIC DEBT OUTSTANDING INCLUDING IJNDISBURSED AS OF JUNE 30, 1968 Debt Repayable in F'oreign Currency (In thousands of U.S. dollars) Page 1 DEBT OUTST (BEGIN OF PERIOD) PAYMENTS DURING PERIOD INCLUDING AMORTI- YEAR UNDISBUFSED ZATION INTEREST TOTAL TOTAL EXTERNAL PllBLIC DE:BT 1968 1,213,724 /1 31,413 13,715 45,128 1969 1,191,981 87,1h4 35,709 122,853 1970 1,10h,838 91,854 37,104 128,959 1971 1,012,983 117,h39 h0,139 157,577 1972 895,545 102,823 34,374 137,197 1973 792,722 87,163 26,506 113,669 1974 705,559 75,1Lo 21,898 97,038 1975 630,419 68,365 18,184 86,549 1976 562,055 68,295 16,h91 84,786 1977 493,760 h8,519 13,587 62,105 1978 k45,2k1 41,354 1l,506 52059 1979 403,887 30,574 10,050 4o,62h 1980 373,314 22,540 9,060 31,600 1981 350,773 20,578 8,347 28,925 1982 330,196 20,213 7,707 27,921 Note: Includes service on all debt listed in Table 1 prepared March 3, 1969 with the exception of the following for which repayment terms are not available: Suppliers $l90,859,000 Financial institutions 5,836,000 Loans from governments: Germany 3,750,000 Japan 7 000 000 Total $207t745oO,0 See footnote at end of table. Table 2: KOREA - ESTIMATED FUTURE SERVICE PAYMENTS ON EXTERNAL PUJBLIC DEBT OUTSTANDING INCLTDING UNDISBURSED AS OF JUNNE 30, 1968 Debt Repayable in Foreign Currency (In thousands of U.S. dollars) Page 2 DEST UUTST (BEGIN OF PEtIOD) PAYI4E4TS OURING PERIOD INCLUDINj AMi0RTI- YEAR UNLISOBURSEU ZATIOJN INTEREST TOTAL PRIVATELY HELD DEBT 1968 747*412L1 28*714 9,3S1 38*065 1969 728*034 84,034 29P532 113,566 1970 643*999 87P923 29,925 117P*847 1971 5565076 112J466 32.557 145JO23 1972 443*610 97P656 26*636 124J292 1973 345J954 80*234 18*723 98957 1974 265p720 60J205 14*327 80,532 1975 199*515 56P480 10,639 67,119 1976 143P035 52P533 7,483 60*016 19t7 90*502 32J12U 4P626 36,746 1978 58*383 24P60? 2,901 27*507 1979 33*776 13,195 1*585 140780 1980 20*581 5,073 968 6*041 1961 15S508 3,333 751 4,085 1982 12J *17 3,125 590 3Jt15 SUPPL.IERS 1968 710s920L2 21,544 8*.063 36*237 1969 692P453 79D 243 27J f25 106*968 1970 613P209 62P346 28.303 11O*651 1971 530*861 106.P37d 31J223 137*601 1972 424P483 930422 25*613 119*035 1973 331P062 76,499 17*959 94*458 1974 254P563 63,630 13,749 77*357 1975 190.954 54p2f4 10*204 64*478 1976 136P681 50717 7.159 57.876 1917' 85.964 30,304 4*P402 34*706 1978 55P659 220791 2*1776 25*567 1919 32P866 12s287 1,*561 13,848 1980 20*581 5.073 W68 6*041 1981 15,50d 3,333 (51 4O085 1982 12I115 3#125 590 3.715 Table 2t KOREA - ESTIMATED FUTURE SERVICE PAYMENTS ON EXTERNAL PUBLIC DEBT OUTSTANDING INCUDING UNDISBURSED AS OF JUNE 30, 1968 Debt Repayable in Foreign Currency (In thousands of U.S. dollars) Page. 3 DEBT OUTST (BEGIN OF PERIOD) PAYMENTS DURING PERIOD INCLUDING AMORTI YEAR UNOISSURSED ZATION INTEREST TOTAL PRIVATLLY HELD OEST FIiNANCIAL INSTITUTIONS 1968 36P552 1,170 65d 1D828 1969 35.581 40791 1.007 6#5*8 1970 30.790 5S575 1,622 7.196 1971 25.215 6,388 1.334 7,422 1972 19,127 4,234 1.022 5.25? 1973 14.892 3,735 764 4,499 1974 11.157 2,597 578 3,174 1975 8.560 2,206 435 2,641 1976 6.354 1.816 32S 2.140 1977 4.539 1,816 225 2,040 1978 2.oT23 1,816 125 1.940 1979 908 906 215 933 WOANS FROM INTERNATIONAL ORGANIZATIONS 1968 29.*993e2 - 133 133 1969 29.993 * 238 230 1970 29,993 35 351 386 1971 29,958 22U 417 637 1972 29.738 380 471 851 1973 29o358 545 464 1*009 1974 28.813 570 437 1.OO7 1975 28.243 600 407 1#007 1976 27.643 635 376 1j011 1977 27.008 710 342 1,052 1978 26.298 800 306 IJ106 1979 25,498 840 268 1,108 1980 24.658 805 228 1.033 1981 23o854 510 194 704 1982 23.344 280 180 460 Table 2: KOREA - ESTIMATED FUTURE SERVICE PAYMENS ON EXTERNAL PUBLIC DEBT OUTSTANDING INCLUDING UNDISBURSED AS OF JUNE 30, 1968 Debt Repayable in Foreign Currency (In thousands of U.S. dollars) Page 1 OEBT UUITST (BEGIN OF PERI1O) PAYMENTS DURING PERIOD INCLUGING AMORTI' YEAR UNDISBURSED ZATION INTEREST TOTAL LOANS FROM INTERNATIONAL ORGANIZATIONS IBRD 1968 5i000 A 19 19 1969 5 000 ' 92 92 1970 5,000 35 164 199 1971 4#965 220 230 450 1972 4,745 380 254 664 1973 4, 365 405 27? 682 1974 3,960 43U 251 681 1975 3.530 460 222 682 1976 3-.070 495 192 687 1977 2J575 515 159 674 1978 2aO60 550 125 675 1979 1.510 590 89 679 1980 920 555 50 605 1981 365 260 18 278 1982 105 30 6 36 IUA 1968 24#993 A1* 114 114 1969 24s993 * 146 146 1970 24.993 * 187 1? 1971 24P993 18' 187 1972 240993 18? 18t? 1973 24P993 140 187 327 1974 2A,853 140 186 320 1975 24,713 14U 185 325 1976 24P573 140 184 324 1977 24,433 195 183 378 1978 24.238 250 191 431 1979 23.988 250 179 429 1960 23P736 250 178 428 1961 23.489 250 176 426 1982 23.2.9 250 174 424 Zee rootnote at end of table. Table 2t KOREA - ESTIMATED FUTURE SERVICE PAYMENTS ON EXTERNAL PUBLIC DEBT OUTSTA1NDING INCLUDING UNDISBURSED AS OF JUNE 30, 1968 Debt Repayable in Foreign Currency (In thousands of U.S. dollars) Page 5 OEET DU4'ST (BEGIN OF PERIOO) PAYMENTS OURING PERIOD INCLU)IiNG AMORTIP YEAR uNDISBURSED ZATION INTEREST TOTAL LOANS FROM GOVERNMENTS 1968 436P2z9 h 2*699 4P?31 6*929 1969 433#9:V5 3,109 5P939 9*049 1970 430,846 3*897 6.828 10*725 1971 426*949 4*752 7T164 11*916 1972 422#197 4*787 7,r67 129053 1913 417,410 6,384 7#319 13*t03 1974 411,026 8,365 7,134 15.499 1975 402P661 11*285 T.137 18J423 1976 391,376 15,127 8P632 23#759 1977 376,249 15,689 8#618 24*307 1978 36O.560 15J947 89299 24J246 1979 344,613 16,539 8.196 24*735 1980 328*074 16,662 7o064 24*527 1981 311P412 16,735 7,402 24j136 1982 2940677 16*800 0,937 23.746 CANADA 1968 925a a 1969 925 - 6 6 1970 925 * 14 14 1971 925 - 22 22 1972 925 - 28 28 1973 925 * 28 28 1974 925 20 28 48 1975 905 40 27 67 1976 65 40 26 66 1977 824 40 24 65 1978 184 40 23 63 1979 744 40 22 62 1980 704 40 21 61 1981 ,664 40 20 60 1982 623 40 18 59 Table 2: KOREA - ESTIMATED FUTURE SERVICE: PAYKENTS ON EXTERNAL PUJBLIC DEBT OUTSTANDING INCLUDING UNDISBURSED AS OF JUNE 30, 1968 Debt Repayable in Foreign Currency (In thousands of U.S. dolla:rs) Page 6 UIT uU rsT (B GIN OF PERIO1) PAYMLNTS DURING PERIOD INCLUDItiG AMQRTIW YEAR UNDISBURSED ZATION INTEREST TUTAL LUANS FRfti GOvERN,'ENTS -' A NY 1968 26v5o4 / 596 097 1s293 1969 26,124 1J167 b65 2JO32 i970 24P957 1,167 C53 2s020 1971 23,79O 1,732 808 2J540 1972 22DQ >8 1,732 148 2J480 1973 2OJ326 1,'32 e 87 2,419 1974 18PPS94 1J732 b27 2*359 1975 16D802 1,732 566 2,298 1976 15, 1.1 1J73C 5(j6 2J238 1977 13D 3Y9 1,732 445 2J177 1978 11,P667 1#732 ~ 85 2J117 1979' 90935 1J{32 324 2J056 1980 8o2u3 1J732 264 1J996 1981 8,472 1,732 2 '3 1,935 1982 4074( 1J I3G 1'13 1J875 JA A A 1968 8O, 3o9/ - 1 858 1 P588 1969 8Q03oJ9 ' 1,b99 1 P899 1970 80*309 2 2J145 2,P145 1971 80 3o'9 2 :374 2P 374 1912 50'0309 ' 2P602 2P602 1973 8Op3(o9 H5r 27S92 3*649 1974 79,452 3,65d 2.7(50 6*407 1975 75,0195 5J768 2J'587 8*e355 1976 70s027 5,o66 2#385 8*o153 1977 64,2,9 5,766 2,1.83 7P951 1978 58,491 5*1768 1.981 7,749 1979 52,723 *s766 l1(79 7J547 1980 46,956 5J768 1,0576 7P345 1941 5 105 u5( 46 1J376 7 143 1982 35p4?,0 5,16d 1J174 6P 942 See footnote at end of table. Table 2: KOREA - ESTIMATED FUTURE SERVICE PAYMENTS ON EXTERNAL PUBLIC DEBT (JUTSTANDING INClUDING UNDISBURSED AS OF JUNE 30, 1968 Debt Repayable in Foreign Currency (In thousands of U.S. dollars) Page 7 DEBT UUTST (aEGIN OF PERIOD) FAYMLNTS DURING PERIOD INCLUCIr G A ?WR T I- YEAR UNDISf1URSED ZATIO14 INTEREST TUTAL LOlANS FROM GOVERNMENTS UNITEO KIN50G'M 1968 132 /6 36 1909 1#2v'0 i rf 135 1970 1J143 114 78 192 1971 1.0029 114 70 184 1972 914 114 62 176 1973 du0 114 54 168 1974 6r6 114 46 160 1975 b7 114 36 152 1976 45 114 30 144 1977 343 114 22 136 1978 229 114 14 128 1979 114 114 6 120 UNITE', STATES 1968 327.261/1 2.103 190I 4.012' 1969 325P S96 1s665 3,V091 4#976 1970 323.512 2.61j 3.736 6J353 1971 32U0896 2.990o 3pd90 65797 1972 317,990 2o941 3#827 6,768 1973 315.O50 3,680 3,758 7.438 1974 311.369 2P841 3.683 6#525 1975 308p526 3,631 3,919 7.551 1976 3404d97 7.473 5s6e5 13#158 1977 297P424 8.035 5P943 13'978 1976 289.369 .*293 5.695 14.188 1979 281.096 86b65 6,064 14P949 1980 272P211 9,123 6PQ02 15.125 1961 263.08 9,195 5,bO3 14.998 1982 253P694 9,269 5J602 14,871 /1 Amounts outstanding are as of June 30, 1968; payments are for the entire year. Statistical Services Division Economics Department February 17, 1969 Table 3 Expenditure on GNP in billion wJon) 1962 1963 1964 1965 1966 1967 1968W At Current Market Prices Private Consumption Expenditure 293.79 399.55 585.96 669.08 805.90 973.55 1,208.20 General Government Consumption 49.62 54.74 61-95 76.02 104.82 132.17 174.98 Gross Domestic Fixed Capital Formation 43.62 68.04 80X54 117.64 205.99 264.00 382650 Increase in Stocks -3.15 21.64 20.70 o.84 17.12 8.20 1.51 Exports of Goods and Services 17.98 23.76 42.o6 68.61 106.81 1L4461 200.69 Less Imports of Goods and Services 58.88 79.48 96.53 128.93 207.82 279.42 397.99 Statistical Discrepancy -2.58 -3.62 -3.14 -5.o6 -14.16 -19.92 -24.05 Expenditure on GDP 345.40 484.63 691.54 798.20 1,018.66 1,223.19 1,545.84 Net Factor Income from the Rest of the World 3.18 3.33 5.25 7.65 13.38 21.95 24.19 Expenditure on GNP 348.58 487.96 696.79 805.85 1,032.04 1,245.14 1,570.03 Less Indirect Taxes 28.65 30.9L 33.92 47.13 72.31 98.66 Plus Subsidies 2.23 0.86 1.06 0.07 0.02 0.01 Less Provision for Consumption of Fixed Capital 18.89 26.31 36.93 45.73 57.89 73.36 Natiohal Income 303.27 431.57 627.00 713.06 901.86 1,073.13 (Continued on next page) Table 3 cont'd. 1962 1963 1964 1965 1966 1967 196&a/ At Constant 1965 Prices Private Consumption Expenditure 568.96 587.74 620.44 669.08 716.99 783.92 883.42 General Government Consumption 70.44 73.84 71.18 76.02 84.76 93.42 101.71 Gross Domestic Fixed Capital Formation 84.05 105.95 93.33 117.64 190.63 232.09 305.L7 Increase in Stocks -6.06 31.32 21.08 o.84 16.75 9.63 4.65 Exports of Goods and Services 36.71 39.44 48.75 68.61 104.49 141.83 192.71 Less Imports of Goods and Services 120.20 153.19 114.04 128.93 203.30 274.o5 382.15 Statistical Discrepancy -5.41 1.14 3.04 -5.06 -9.58 -12.94 -3.63 Expenditure on GDP 628.49 686.24 743.78 798.20 900.74 973.90 1,102.18 Net Factor Income from the Rest of the World 6.48 6.79 6.53 7.65 13.08 21.53 23.22 Expenditure on GNP 634.97 693.03 750.31 805.85 913.82 995.43 1,125.440 a/ Preliminary Source: Bank of Korea Table 4 Industrial Origin of GNP (in billion won) 1962 1963 1964 1965 1966 1967 1568WZ At Current Market Prices Agriculture, Forestry and Fishery 127.37 205.64 320.27 311.63 372.31 398.18 440.31 Fishery (3.50) (5.12) (9.54) (13.62) (16.66) (22.08) (27.84) Mining 6.98 8.30 12.34 14.73 16.59 20.68 21.21 Manufacturing 50.67 72.52 108.77 142.81 185.80 227.83 3144.56 Construction 11.65 14.70 20.21 27.64 37.94 50.09 75.37 Electricity, Gas and Water 4.68 5.12 6.60 10.26 14.13 17.82 22.76 Electricity and Gas (4.20) (4.37) (5.73) (9.18) (12.81) (15.94) (20.40) Transportation, Storage and Communication 17.08 19.90 23.91 32.14 50.73 71.92 99.98 Transportation and Storage (14.78) (17.07) (19099) (27.00) (40.32) (59.53) (83.50) Wholesale and Retail Trade 43.68 62.20 84.39 119.27 158.16 197.91 265.60 Banking, Insurance and Real Estate 5.72 7.45 9.93 12.75 16.81 21.47 28.12 Ownership of Dwellings 18.49 21.78 25.31 27.99 33.42 43.72 49.69 Public Administration and Defense 26.54 28.08 33.64 39.94 53.84 67.15 87.70 Other Services 32.54 38.94 46.17 59.0°4 78.93 106.42 140.54 Education (12.11) (13.30) (14.49) (15.81) (23.69) (31.81) (15.55) Rest of the World 3.18 3.33 5.25 7.65 13.38 21.95 24.19 GNP 348.58 487.96 696.79 805A85 1,032.04 1,245.14 1,570.03 (Continued on next page) Table c cant1d. 1962 1963 1964 1965 1966 1967 1968 a/ At Constant 1965 Prices Agriculture, Forestry and Fishery 252.37 270.56 314.31 311.63 345.91 325.27 326.36 Fishery (9.57) (11.40) (12.91) (13.62) (15.07) (16.70) (18.49) Mining 10.86 11.86 13.36 14.73 15.67 16.87 16.44 Manufacturing 95.14 111.63 116.78 142.81 165.76 205.33 263.95 Construction 18.23 20.69 21.83 27.64 34.84 38.47 51.53 Electricity, Gas and Water 6.23 7.10 8.47 10.26 12.24 15.77 19.09 Electricity and Gas (5.37) (6.19) (7.54) (9.18) (11.09) (14.27) (17.45) Transportation, Storage and Communication 20.07 23.47 27.15 32.14 37.67 45.56 54.57 Transportation and Storage (17.01) (19.80) (22.98) (27.00) (31.87) (38.68) (46.42) Wholesale and Retail Trade 103.41 113.19 109.97 119.27 139.43 165.81 201.10 Banking, Insurance and Real Estate 11]08 11.35 12.02 12.75 13.79 14.59 15e43 Ownership of Dwellings 25.90 26.52 27.32 27.99 28393 30.09 30.96 Public Administration and Defense 36.96 38.24 38.88 39.94 42.71 45.78 47.47 Other Services 48.24 51.63 53.69 59.04 63.79 70.36 75.28 Education (12.88) (13.99) (14.76) (15.81) (17.16) (18.00) (19.20) Rest of the World 6.48 6.79 6.53 7.65 13.08 21.53 23.22 GNP 634.97 693e03 750.31 805.85 913.82 995.43 1,125.40 a/ Preliminary Source: Bank of Korea Table 5(i) Composition of Gross Domestic Capital Formation (at Current Market Prices) (in billion won) 1962 1963 1964 1965 1966 1967 196821 A. By Type of Capital Goods Fixed Capital Formation 48.62 68.04 80o54 117.64 205.99 264.TO 382.50 Dwellings 5.81 6.91 18.42 13.92 21.18 25.86 40.03 Non-residential Buildings 10.94 14.21 10.48 32.03 39.03 49.21 76.59 Other Construction and Works 14.62 20.59 24.58 33.67 53.38 65.75 103.22 Transport Equipment 5.18 9.64 7.64 11.72 25.41 56.69 79.28 Machinery and Other Equipment 12.07 16.69 19.42 26.30 66.99 66.49 83.38 Increase in Stocks -3.15 21.64 20.70 0.84 17.12 8.20 1.51 Gross Domestic Capital Fcrmation 45.47 89.68 101.24 118.48 223.11 272.20 384.01 B. By Industrial Use Fixed Capital Formation 48.62 68.04 80.54 117.64 205.99 264.00 382.50 Agriculture, Forestry and Fishery 4.03 7.01 9.65 13.67 24.83 23.26 25146 Mining and Quarrying 0.38 0.87 0,78 1.49 2.11 2.53 4.41 Manufacturing 10.01 15.17 19.23 30.46 64.94 63.87 86.17 Construction 1.59 1.10 1.04 1.44 2.10 2.22 5.10 Electricity, Water and Sanitary Services 5.22 8.63 6.36 7.10 10.48 22.12 141.76 Transportation, Storage and Communication 11.45 16.28 16.93 24.06 50.80 80.97 116.78 Wholesale and Retail Trade 2.76 3.20 3.95 7.84 7.81 11.12 17.57 Banking, Insurance and Real Estate 0.13 0.13 0.28 0.50 0.98 0.87 3.55 Ownership of Dwellings 5.81 6.91 10148 13.92 21.18 25.86 40.03 Public Administration 0.92 1.39 1.21 1.96 2.18 5.31 10.32 Other Services 6.32 7.05 10.63 15.20 18.28 25.87 '1135 Increase in Stocks -3.15 21.64 20.70 0.84 17.12 8.20 1.51 Gross Domestic Capital Formation 45.47 89.68 101.24 118.18 223.11 272.20 814.01 (Continued rn next page) Table 5(i) cont'd. 1962 1963 1964 1965 1966 1967 1968_/ C. By Type of Purchaser Fixed Capital Formation 48.62 68.o4 80.54 117.64 205.99 264.00 382.50 Private and Public Enterprises 33.25 49.38 62.49 91.85 159.95 203.97 292.22 Government Enterprises 5.75 8.99 9.84 11.45 21.16 25.01 29.68 General Government 9.62 9.67 8.21 14.34 24.88 35.02 60.60 Increase in Stocks -3.15 21.64 20.70 o.84 17.12 8.20 1.51 Gross Domestic Capital Formation 45.47 89.68 101.24 118.48 223.11 272.20 384.01 a/ Preliminary Source: Bank of Korea Table 5(ii) Composition of Gross Domestic Capital Formation (at 1965 Market Prices) (in billion won) 1962 1963 1964 1965 1966 1967 196W A. By Type of Capital Goods Fixed Capital Formation 84.05 105.95 93.33 117.64 190.63 232.09 305.47 Dwellings 10.02 11.14 12.55 13.92 18.42 21.01 29.00 Non-residential Buildings 17.44 20.72 21.2 32.03 35.07 41.21 56.53 Other Construction and Works 24.14 30.93 27.88 33.67 48.76 54.97 79.82 Transport Equipment 9.48 15.42 8.89 11.72 23.81 52-41 63.51 Machinery and Other Equipment 22.97 27.74 22659 26.30 64.57 62.49 74.81 Increase in Stocks -6.06 31.32 21.08 0.84 16.75 9.63 4.65 Gross Domestic Capital Formation 77.99 137.27 114.41 118.48 207.38 241.72 310.12 B. By Industrial Uses Fixed Capital Formation 84.05 105.95 93.33 117.64 190.63 232.09 305.47 Agriculture, Forestry and Fishery 6.72 10.28 10.66 13.67 23.16 19.24 18.80 Mining and Quarrying 0.75 1.44 0.92 1.49 2.01 2.24 4.00 Manufacturing 17.76 24.08 22.37 30.46 61.72 59.57 72.80 Construction 3.17 2.42 1.22 1.44 2.00 2.11 4.72 Electricity, Water and Sanitary Services 8.81 13.22 7.40 7.10 9.55 19.13 35.76 Transportation, Storage and Communication 19659 25.41 19.57 24.06 46.97 72.33 92.78 Wholesale and Retail Trade 4.55 4.77 4.63 7.84 6.99 9.25 12.75 Banking, Insurance and Real Estate 0.23 0.21 0.33 0.50 0.87 0.75 2.79 Ownership of Dwellings 10.01 11.14 12.55 13.92 18.42 21.01 29.00 Public Administration 1.68 2.32 1.41 1.96 2.28 4.55 7.81 Other Services 10.78 10.66 12.27 15.20 16.66 21.91 24.26 Increase in Stocks -6.06 31.32 21.08 0.84 16.75 9.63 4.65 Gross Domestic Capital Formation 77.99 137.27 114.41 118.48 207.38 241.72 310.12 (Contirnied rn next oaS4e) Table 5(ii) cont'd. 1962 1963 1964 1965 1966 1967 1968a/ C. By Type of Purchaser Fixed Capital Formation 84.05 105.95 93e33 117.64 190.63 232.09 305.47 Private and Public Enterprises 58.65 76.83 72.63 91-85 148658 181.31 239.13 Government Enterprises 9.67 14.84 11.35 11.45 19.41 21.61 22.16 General Government 15.73 14.28 9.35 14034 22.64 29.17 44.18 Increase in Stocks -6.06 31.32 21.08 o.84 16.75 9.63 4.65 Gross Domestic Capital Formation 77.99 137.27 114.41 118.48 207.38 241.72 310.12 a/ Preliminary Source: Bank of Korea Table 6 Population Trends UN Mid-Year Estimate of: Population Annual (Million Growth Korean Census Population Crude Crude Persons) in % Date (Million Persons) Birth Rate Death Rate M:) (X)- 1955 (9/1) 21.53 1960 2h.69 2.88 (12/1) 24.99 1961 25.4o 2.86 1962 26.13 2.85 4.00 1.05 1963 26.87 2.84 3.94 1.02 1964 27.63 2.84 3.87 .99 1965 28.38 2.70 3.73 .96 1966 29.09 2.50 (10/1) 29.21 3.54 .93 1967 29.78 2.,10 3.28 .90 1968 30.47 2.32 3.07a/ .87a/ a/ Estimate by EPB. Sources: UN Mid-Year Estimates: United Nations, Monthly Bulletin of Statistics Korean Popul2tion Census: Economic Planning Board Crude Birth and Death Rates: Economic Planning Board, unpublished data Table 7 Cultivated Land by Major Crops A. Area (in thousand chungbo)a/ Cultivated Land Under R i c e Misc. Vege- Specia Year Major Crops Total Paddy Ordinary Barley Grain Pulses Potatoes Fruits tables Crops 1961 2,868 1,138 1,133 5 970 205 341 110 23 82 1962 3,078 1,148 1,143 5 1,012 202 340 125 23 124 103 1963 3,128 1,165 1,158 7 1,070 204 340 138 24 121 66 1964 3,294 1,205 1,191 14 1,119 219 338 181 29 139 64 1965 3,503 1,238 1,209 30 1,211 216 368 211 43 151 61 1966 3,383 1,242 1,209 32 1,148 171 3145 210 45 154 68 1967 3,435 1,2L6 1,214 31 1,150 162 380 196 48 177 74 B. Percentage of the Total Average 1962-664 100.0 37.0 36.8 0.2 33.7 6.6 10.7 4.7 0.8 4.O 2.5 1967 100.0 36.3 35 .4 0.09 334.5 47 11D1 5t7 1.L 5.2 2.1 a/ 1 chungbo = 0.99 hectare. Source: Economic Planning Board, Korean Statistical Yearbook 1968. Table 8 Rice Planted Area Classified by Irrigation Facilities (in thousand chungbo) / 1961 1962 1963 1964 1965 1966 1967 Total 1,133 1,143 1,1158 1191 1,209 1,209 1,214 Paddy-field benefitted by Irrigation Association 238 256 264 277 284 288 295 Irrigated paddy 381 391 395 419 425 448 460 Partially irrigated paddy 283 278 284 288 301 291 281 Rain-field 231 219 215 207 200 181 178 a/ 1 chungbo = 0.99 hectare Source: Ministry of Agriculture and Forestry, Yearbook of Agriculture and Forestry Statistics. Table 5 Production of Agricultural Crops (in thousand m. tons) Average 1962-614 1965 1966 1967 1968 Cereals 5 261 5,757 6,401 5,970 5,810 Rice T3,501 3,919 3,603 3719T Barley 1,270 1,807 2,018 1,916 2,083 Wheat 268 300 315 310 3145 Millets 80 61 67 4? 78 Rye 37 29 41 27 25 Corn 14 40 34 60 63 Others 6 19 7 12 21 Pulses 185 203 195 235 288 Soya beans 1m -1 201 5 Others 27 29 314 34 43 Potatoes 63o 1,045 972 631 758 Sweet 538 929 834 518 635 White 92 116 138 113 123 Fruits 200 310 326 359 39V1- Apples 121 7 -177 190 a Peaches 25 54 63 71 j/ Pears 27 140 41 41 47a/ Persimmons 18 214 22 214 37a/ Oranges 1 1 2 2 3a Others 13 24 29 31 37a/ Vegetables 1 308 1 567 1 5814 1 869 1,882a/ Radish 597 Chinese cabbage 1415 1480 520 609 Red pepper 39 146 67 67 Others 394 463 1400 613 Special Crops 38 141 57 62 6La/ Cotton 172 12 17 12 1a/ Others 23 29 1h3 50 5M/ Tobacco 38 56 72 66 71/_ Cococn 5.8 7.8 9.6 10.9 i6.5/ a/ Prospective yield. Source: Data supplied by Ministry of Agriculture and Forestry Table 10 Yield Per Hectare by Major Crops (in metric tons per hectare) 1961 1962 1963 1964 1965 1966 1967 Rice 3.1 2.7 3.3 3.3 2.9 3.6 2.9 Barley 1.9 1.7 1.1 1.7 1.8 2.1 2.0 Pulses 0.6 0.5 0.5 o.6 o.6 o.6 0.6 Potatoes 3.5 h.0 3.8 5.2 4.9 4.7 3.2 Fruits 6.5 8.5 7.6 8.1 7.3 7.4 7.5 Vegetables 10.6 9.9 10.4 10.5 11.2 10.6 Source: Economic Planning Board, Korean Statistical Yearbook 1968. Table 11 Imports of Food Grains (in thousand metric tons) a! 1962 1963 1964 1965 1966 1967 1968- Imports Rice 118 - - 32 113 216 aRlcey4 264~ 226 106 - - Barley 377 779 545 441 34o 874 804 Wheat b 21 27 62 55 119 35 N.A. Wheat C7or-. 26 3 92 Other&S- 54 -17 826 792 Total Foodgrain Imports 4-99 1,318 915 669 525 1,100 1,243 Expor-ts Rice ~~~~~~~~~ ~~62 6 114 19 44- Others 2 6 N.A. 6 4 4 N.A. Total Foodgrain Exports 64 6 14 25 48 4 N.A. Net Imports of Foodgrains 435 1a,312 901 644 4?6 1,096 1,243 Domestic Production 5.,2 5,742 7,065 7,OO5 7,568 6,836 6,856 Total Suppl_of odrain 5,858 7,054 6,966 7,649 B,041. 7,932 8,099 Percentage of Net Imports to Total Supply for an Foodgrains (%) 7.4 18.6 12.9 8.4 5.9 13.8 15.3 a/ Estimates based on rice year (November 1, 1967 to October 31, 1968),. b/ Used essentially for Relief and Military Assistance. e/ Includes cereals and cereal preparations, also corn. &Source: Ministry of Agriculture and Forestry, Yearbook of Statistics 1968. Table 12 Number of Livestock and Output of Livestock Products A. Number of Livestock (in thousands) 1962 1963 1964 1965 1966 1967 Draft cattle 1,252 1,363 1,351 1,33l1 J 1,290 1,243 Dairy cows 2.4 3.5 5.2 6.6 8.5 10.4 Beef cattle .9 1.0 .9 .8 1.1 2.1 Horses, asses and mules a/ 25.0 26.8 27.0 27.8 27.8 25.0 Pigs 1,672.9 1,510 1,256 1,382 1,457 1,296 Goats 313 286 225 178 161 133 Sheep 1.5 1.2 1.0 1.0 1.1 1.6 Rabbits 1,317 1,311 794 763 908 833 Chickens 13,047 11,907 10,282 11,893 14,008 17,079 IMbcks 219 173 149 210 233 227 Turkeys 2.5 2.2 2,1 1.9 1.8 1.6 B. Output of Livestock Products Nieat (thousand metric tons) 118 100 112 130 Eggs (1,000) 952 864 1,312 1,673 Milk (thousand metric tons) 7.1 9.3 11.4 a_' The number of asses and mules is around 1 thousand only. 'ource: Bank of Korea, Economic Statistics Year Book, 1968 and Livestock Bureau, Statistics of Livestock in Korea. Table 13 Number and Tonnage of Fishing Vessels Non-Powered Powered Total Average Average Average Number Tonnage Tonnage 'urpber Tonnage Tonnaye Number Tonnage Tonnage 1962 39,400 81,600 2.1 6,100 80,100 13.1 L5,500 160,700 3.5 1963 41,100 79,700 1.9 6,100 80,300 13.2 47,200 160,000 3.4 1964 142,300 80,900 1.9 6,500 86,500 13.4 48,800 167,400 3.4 1965 43,500 83,600 1.9 7,600 119,500 15.8 51,100 203,100 4.0 1966 44,4oo 85,500 1.9 8,900 160,500 18.1 53,300 246,000 4.6 1967 46,300 83,000 1.8 11,000 179,000 16.3 57,300 262,000 4.6 1968 a/ 46,400 83,000 1.8 11,500 213,700 18.6 57,500 296,700 5.1 a/ Estimates. Source: Office of Fisheries Table 14 Loans Extended from National Agriculture Cooperative Federation (Unit: million won) Composi- Terms tion % and Interest 1962 1963 1964 1965 1966 1967 1967 Rate p.a. Banking Fund Short-term loans Agricultural production 1,625 1,799 2,208 2,685 2.598 3,018 4.8 1 year @ 15% Agriculture and forestrya. 1,715 2,085 3,764 4,219 6,449 11,489 18.4 1 year @ 25% Rice lien 1,593 950 2,767 1,974 1,965 1,589 2.5 1 year @ 11% Fisheryb/ 209 78 342 1,015 1,421 2,136 3.4 1 year @ 16-25% General commercial 972 1,733 3,637 4,245 11,254 22,931 36.7 1 year @ 25% Special fisheries 638 345 75 64 7 5 - Business loan to cooperatives - 1,798 4,836 9,532 10,367 12,193 19.5 1 year @ 12% Commercial farm - - - - 622 i,828 2.9 Medium-term Loans Refinancing of usury 170 6 - - - - 10 years @ 12% Sub-total Bank Funds 6,922 8,794 17,630 23,734 34,683 55,189 88.2 Government Fund Short- and medium-term loans Agricultural 6,171 4,439 3,551 4,435 4,018 5,433 8.7 1-15 years @ 8-12% Fisheries 218 42 21 34 - - _ Long-term loans Irrigation 657 679 678 3,828 1,248 1,917 3.1 35 years @ 3.5% Warehouse 6 119 32 1 - 12 - 25 years @ 8% Sub-total Government Funds 7,053 5,279 4 282 8,298 5 266 7,362 11.8 Grand Total 13,975 14,073 21,912 32,032 39,9 6-2, 100.0 C/ This includes loans for agricultural businesr, eericulture business, tobacco and food proceseing, etc. b/ Includes fish raising and lever at 16.0 percent, deep-sea fishing at ,. percent and others at 20 pcrcerl. Source: National Agr.culture Cc-tperatire Federeatieri, Anural E,eports Table 15 Gross Value Added of Mining and Manufacturing (in million Won) (Constant 1965 ilarket Prices) 1962 1963 1964 1965 1966 1967 1968a/ Mining 10.86 11.86 13.36 14.73 15.67 16.87 18.72 Coal mining -572 76.7 67 7.22 T.20 8.73 9.95 Other 5.60 5.61 6.59 7.51 7.47 8.14 9.81 Manufacturing 95.14 111.63 116.78 142.81 165.76 205.33 252.36 Food 12.69 15.21 15.01 16 . T68 23.02 24.93 Beverages 7.59 7.73 7.76 9.68 11.92 14.92 16.50 Tobacco 5.70 6.31 7.60 10.05 12.15 15.12 17.03 Textiles 24.87 27.93 29.96 40.66 44.98 54.28 64.77 Clothing and footwear 5.75 6.37 5.10 5.40 5.39 6.64 8.18 Lumber and plywood, wood products 2.43 3.04 2.96 3.45 4.55 5.49 6.18 Furniture 1.14 1.15 0.89 1.01 1.03 1.27 1.57 Paper and pulp 2.34 3.09 3.20 3.50 4.14 4.60 5.84 Printing, publishing, and allied industries 4.45 4.95 5.92 6.91 8.27 9.91 11.37 Leather and leather prod- ucts except footwear 0.90 0.83 0.96 0.97 1.06 1.17 1.26 Rubber products 2.03 2.30 2.63 3.18 3.28 3.11 3.72 Fertilizer 0.93 1.12 1.62 1.87 1.98 3.86 ) Other chemicals 3.84 5.98 5.45 4.95 6.03 7.44 ) 19.24 Refined oil - - 1.30 2.76 3.57 4.68 ) Petrochemicals and coal ) 11.17 products 1.41 1.95 2.10 3.25 2.56 2.66 ) Cement ) 2.71) Clay, stone and glass ) 3.35 3.97 5.34 6.22 )7.07 9.14 10.37 products ) 4.36) Table 15, cont'd. 1962 1963 1964 1965 1966 1967 1968E/ Basic metal industries, metal products, except machinery and transport equipment 4.79 6.41 5.95 7.73 8.77 lo.86 13.66 Machinery other than electrical 4.11 3.60 3.32 3.78 3.80 5.44 7.18 Electrical machinery, appliances and supplies 1.59 2.27 2.88 3.19 8.97 6.13 7.96 Transport equipment 3.41 5.011 2. 2.67 8.17 11.33 15.21 Other manufacturing 1.81 2.41 2.57 2.67 3.08 4.23 6.22 a/ Forecasts by EPB in ORB 1969. Source: Bank of Korea Table 1 6 Share in Gross Value Added of Manufacturing Industries by Size of Establishmentsa (percent) Census 1960 Census 1966 Small Medium Large Small Medium Laige Food 59.8 17.5 22.7 32.1 19.0 49.8 Beverages 19.1 15.8 65.1 36.4 17.6 46.0 Textiles 24.7 19.1 56.2 18.0 23.4 58.6 Clothing and footwear 87.5 12.0 0.5 6L.L 11.9 23.7 Wood and cork products, including plywood 74.5 13.2 12.3 35.6 13.5 50.9 Furniture and fixtures 89.6 10.4 - 73.5 26.5 - Paper and pulp 28.1 20.9 51.0 18.8 25.3 55.9 Printing, publishing, and allied industries 45.5 21.1 33.4 31.3 15.2 53.5 Leather and leather products 64.2 35.8 - 46.1 27.0 26.9 Rubber products 9.1 13.1 77.8 6.1 11.2 82.7 Chemicals and chemical products 41i7 29.6 28.7 18.2 22.4 59.4 Petrochemicals and coal products 83.3 14.5 2.2 28.8 10.9 60.3 Cement, stone, and glass 25.3 17.7 57.0 21.0 16.6 62.4 Basic metals 41.5 58.o 0.5 13.6 27.3 59.1 Metal products, except machinery 59.7 21.4 18.9 47.2 36.2 16.6 Machinery, except electrical machinery 62.9 22.9 141.2 43.3 18.7 3.0 Electrical machinery, apparatus, and appliances 52.5 19.3 28.2 15.2 12.0 72.8 Transport equipment 78.8 19.7 1.5 27.1 12.2 60.7 Miscellaneous 85.7 13.5 o.8 25.1 29.9 45.0 Total Manufecturing 1j6.7 19.6 33.7 ?'7.3 19.^4 51. Total Small Medium Large Total Small Medium T,nrpe Total number of establishments (no.) 15,204 1l,358 699 137 22,708 21,00)5 1,I 40 363 Total gross Value Added (at current prices) in million W 22,295 10,4112 4,370 7,513 142,138 18,BnI4 27,57h 75,760 ,/ Sis,e clcssification: Small - 5-49 emiployees; MediUr - 50-2'00 employees- L-rs e - 200 erapo-e^ and ovrer. Sourc,:.: 10°66 Cencus oI' 1lining anr 1Kwnufacturjin;' Table 1.7 Trends of Labor Productivity_/and Real Wages in Manufacturing Industries (1965 = 100) 1962 1963 1964 1965 1966 1967 Total Manufacturing Labor productivity 73.4 78.2 85.1 100.0 103.8 119.7 Real wages 110.6 102.3 97.2 100.0 1014.0 115.5 Food Labor productivity 78.0 81.14 70.6 100.0 85.9 91.5 Real wages 113.9 101.6 92.8 100.0 110.0 125.8 Beverages Labor productivity 82.1 68.5 66.6 100.0 101.9 124.5 Real wages 116.0 105.7 99.2 100.0 106.9 105.7 Textiles Labor productivity 72.1 69.2 79.2 100.0 99.6 118.7 Real wages 102.8 98.8 914.0 100.0 102.7 120.0 Wood and Cork Products, Including Plywood Labor productivity 104.5 115.6 86.3 100.0 103.6 107.7 Real wages 86.8 90.7 89.3 100.0 1oh.5 112.2 Paper and Pulp Labor productivity 81.0 98.2 102.5 100.0 101.0 106.1 Real wages 1214.7 105.2 110.3 100.0 93.0 10o5.L Printing, Publishing, and Allied Industries Labor productivity 62.2 64.2 83.3 100.0 125.14 159.8 Real wages 116.7 113.9 96.5 100.0 107.9 107.2 Leather and Leather Products Labor productivity 91.0 87.5 94.9 100.0 1014.9 118.1 Real wages 1114.9 98.4 105.6 100.0 87.0 94.6 Rubber Products Labor productivity 74.3 92.6 95.1 100.0 85.o 82.8 Real wages 102.8 93.6 100.2 100.0 91.7 95.9 (Continued on next page) Table 17, cont'd. 1962 1963 1964 1965 1966 1967 Chemicals and Chemical Products Labor productivity 66.4 86.0 95.4 100.0 124.8 152.9 Real wages 102.3 89.2 98.1 100.0 106.4 118.9 Petrochemical and Coal Products Labor productivity 42.9 47.5 68.8 100.0 124.3 149.4 Real wages lo4.5 103.1 92.1 100.0 loo.4 l110.2 Cement, Stone and Glass Labor productivity 59.0 63.2 87.5 100.0 117.7 154.2 Real wages 119.5 108.6 98.5 100.0 109.5 113.9 Basic Metals Labor productivity 82.7 93.3 108.1 100.0 119.3 130.2 Real wages 110.4 98.1 97.C) 100.0 98.6 114.3 Metal Products, Except Machinery Labor productivity 86.2 114.7 71.3 100.0 113.3 141.5 Real wages 112.0 101.5 97.2 100.0 107.9 129.5 Machinery, Except Electrical Machinery Labor productivity 131.9 97.3 89.0 100.0 101.7 111.0 Real wages 118.8 107.4 99.4 100.0 107.3 113.6 Electrical Machinery, Apparatus and Appliances Labor productivity 71.3 93.2 103.7 100.0 134.7 156.8 Real wages 99.8 98.8 104.4 100.0 118.1 126.4 Transport Equipment Labor productivity 33.5 62.3 64.8 100.0 160.5 188.4 Real wages 120.7 119.3 103.5 100.0 103.6 120.4 Miscellaneous Labor productivity 90.7 118.6 96.6 100.0 122.9 160.9 Real wages 129.0 114.7 101.5 100.0 104.5 109.4 a/ Net production per man-day; wage earners only. Source: Productivity: Korea Productivity Center, Labor Productivity Index, 1968 Quarter Seoul; Wages: Bank of Korea, Monthly Statistical Review, Seoul; Deflator - Seoul Consumer Price Index International Compa:son of Money Wages in Selected Occupations a/ Republic of China Korea b/ (Taichung) Hong Kong c/ Japan d,/ Occupation U.S. Cents Index U.S. Cents Index U.S. Cents Index U.S. Cents 1nde. M4aniifacture of Textiles Spinners - male 24 100 14 58 27 113 - - Spinners - female 17 100 10 59 27 159 26 153 Weavers 15 100 14 93 29 193 27 10l Loomfixers (turners) 33 100 14 42 24 73 49 1_3 Laborers, unskilled 8 100 13 163 20 250 - - Manufacture of wearing apparel (men s cotton shirts) Sewing machine operators - male 17 100 21 124 26 153 39 22 - female 15 100 21 110 24 16o 24L Printing and publishing Hand compositors 20 100 16 83 32 160 5h 270 Press operators 21 100 16 76 27 129 51 2h3 Manufacture of machinery Fitters (assemblers) 21 100 25 119 29 138 53 230 Iron moulders (hand, bench) 20 100 25 125 32 160 59 r37 Laborers, unsldlled 6 103 18 300 24 4OO _ _ Manufacture of Transport Equipment (repair of motor vehicles) S'arage mechanics, general duties 19 100 27 142 34 (continued on next nage) Table i8, cont.d. Republic of China Korea b/ (Taichung) Hong Kong c/ Japan d/ Occupation U.S. Cents Index U.S. Cents Index U.S. Cents Incee U,S. Cents IIe,. Construction Bricklayers 23 100 28 100 h8 171 207 Otructural steel erectors 28 100 28 100 47 166 l 175 Cement finishers 28 10O 25 89 49 175 63 225 Carnenters 32 100 28 88 47 147 63 197 Paintcrs 28 100 25 89 46 164 55 1-J6 Plumbers 28 100 25 8i 45 i6i 156 Electr. fitters (inside wiremen) 35 100 25 71 42 120 51 146 I,aborers, nmskilled 18 100 22 122 24 133 40 22 Electric light and power Electric fitters (ouLside lines) 42 190 25 60 36 86 - - Laborers, *unsk. (power plant) 18 100 20 111 31 172 - - Transport (Trains and buses) Drivers 29 100 33 165 39 195 513 290 a! Average hourly earnings of adult wage earners in October 1967. b/ In some occupations earnings in April 1968. c/ Excluding overtime payments. d! Earnings in April 1968. Source: International Labor office, Bulletin of Labor Statistics, 2nd quarter 1968. Table 19 Development of Power Sector 1962 1963 1964 1965 1966 1967 1968a/ 19692/ InLstalled Capacity (140) 434 465 597 769 769 917 1,274 1,629 Hydro 1 TT lT3- -217 217 300 327 327 Thermal 289 319 451 551 551 611 941 1,296 Islandts 1 3 3 3 3 6 6 6 Gross Power Generation (GWH) 1,978 2,237 2,700 3,249 3,886 4,913 6,404 Peak Demand (NW) 343 393 492 602 705 9062/ 1,2282/ 1,658 Energr Sales (GWiNH) 1,508 1,683 2,043 2,464 3,008 3,903 5,096 Iighting 266 292 357 422 501 572 233 Industrial use 1,2h2 1,391 1,686 2,041 2,507 3,331 4,363 Length of Transmission Lines (in km) 5,407 5,574 5,814 5,987 6,077 6,3Wu 6,991 7,729 Rate of Electrification (per 1,000 houses) Total 21.5 22.9 24.8 27.1 29.8 32.5 35.5 38.6 Rural 11.5 12.5 14.4 18.0 21.5 24.1 #/ Estimates. 2/ Plan figures. c/ Figures reflect cuts in electric supply. Source: Korea Electric Company Table 20 Growth of Domestic Traffic Passenger Traffic (in million) Railways Motor Vehicles Marine T o t a 1 Passenger Passenger Passenger Pazsengar Passenger km Passenger km Passenger km Passenger .kr, 1962 100.6 5,869 667.1 5,461 4.4 154 770.0 11,498 1963 109.3 6,676 7)42.3 6,571 4.5 171 856.3 13,446 1964 118.5 7,353 935.4 6,459 5.9 195 1,060.0 14,060 1965 107.2 6,917 1,195.5 7,975 5.5 182 1,308.4 15,137 1966 138.3 8,666 1,511.6 11,258 5.9 196 1,656.0 20,170 1967 152.0 9,577 1,674.8 11,699 6.7 223 1,833.7 21,561 1968 10,363 13,722 226 2U , 40X Freight Traffic (Tonnage : thousand MT; Tonnage km : million) Railways Motor Vehicles Marine T o t a 1 Tonnage Tonnage Tonnage Tonnage Tonnage kni Tonnage km Tonnage km Tonnage km 1962 17,914 3,977 16,945 388 1,770 174 36,629 4,539 1963 19,774 4,358 16,050 420 1,795 176 37,619 4,963 1964 20,311 4,522 18,716 511 1,963 193 40,990 5,226 1965 22,377 5,044 24,032 503 2,676 263 49,085 5,810 1966 24,o64 5,449 24,526 557 2,706 206 51,296 6,212 1967 27,440 6,178 28,616 660 4,173 1,o43 60,229 7,881 1968 6,873 1,018 1,368 9,259 i Including domestic aviation whose contribution is still very small. Soulrce: Ministry of Construction, Monthly Construction Statistics, based on data of Ministry of Transportation. Table 21 Railroad and Rolling Stock Length of Freight Cars End of Railways Locomotives Passenger Thereof Period in operation Steam Diesel Cars Total Tank cars (km) 1962 4,696 280 95 1,445 9.,659 625 1963 4,730 280 125 1,609 10,479 616 1964 4.,780 272 125 1.,422 10,764 664 1965 4,897 272 125 1,517 10,587 793 1966 5,049 261 173 1,418 11,454 952 1967 5,103 203 252 1,566 12,101 1,307 July 1968 5,209 203 252 1,560 12,703 1,539 Source: Korean National Railroad Table 22 iYunber of Registered Automobiles Average Anrnual Rate of Increase 1963-67 End of Period L)64 1965 1966 1967 1968 (percent) Cars 14,586 16,2&0 20,328 25,710 323099 lo.1 Truc' s 14,95i 16,0015 19432 22,955 28,728 12.3 3uses 5,W4o 6,337 8,062 9,02L4 10,097 15.7 ;icro. -buses 2,160 2,385 1,322 1,722 2,055 2.5 specizil vehicles 678 7914 1,016 1,286 1,223 24.0 Total: 37,575 41,511 50,160 60,697 74,202 114.6 Source: Ministry of Tran..portation Table 23 Ocean and Coastal Fleet (Thousands of GT; number of ships in brackets) End of Period 1964 1965 1966 1967 1968 Steel Ships 7Cargo vessels 119.0 146.7 219.0 278.4 310.2 (61) (66) (89) (130) (158) Oil tankers 10.6 12.8 17.9 155.1 160.5 (77) (100) (118) (154) (163) Passenger ships 5.8 5.8 6.4 6., 7.7 (30) (31) (35) (35) (40) Official 9.5 10.0 10.2 34.9 34.6 (195) (207) (199) (186) (179) Wooden Ships Cargo vessels 38.0 37.6 41.4 34.9 34.6 (1,113) (1,158) (1,143) (1,070) (1,135) Oil tankers 1.0 1.1 0.8 0.8 0.9 (28) (32) (27) (26) (30) Passenger ships 9.5 10.0 10.2 9.6 9.3 (195) (207) ( 99) (136) (179) Official 3.5 4.1 3.9 4.5 4.1 (1)5) (153) (165) (185) (189) Source: Ministry of Transportation T*ble 14 (in million US dolars) SITC Average Code Commodities 1961 1962 1963 1964 1962-64 1965 O Food and Live Animals 8.9 21.8 17.8 26.4 22.1 28.2 03 Fisa and fish preparations .1i **8N " 91 '[2i 10 97 -I 04 Ceox-als and cereal preparations 0.5 9.0 1.3 2.4 h.2 3.6 042 Rice 0.5 8.9 0.8 2.4 h.0 3.2 05 Fruit and vegetables 1.7 2.2 2.2 6.8 1.7 5.5 05L Dried laver 0.9 0.7 1.5 5.5 2.6 3.3 1 Beverge and Tobaco 0.2 0.1 0.3 0.2 0.2 0 9 12 Tobac c s 7o 57 77 0.9 2 Crude Materials, Inedible (excluding fuels) 21.0 19.4 26.4 31.4 56 37.0 26 Textile fibers (not manufactured) 3.4 .Th T ". 7T7 5 5 7 261 Raw silk 2.8 4.0 4.3 5.4 146 6.5 27 Crude fertilizer and crude materials 3.0 2.7 3.0 4.4 3.4 1.1A 28 Metalliferrous ores and metal srap 9.6 7.9 10.5 13.2 10.5 17.7 281 Iron ore 4.3 3.8 5.9 6.o 5.2 6.7 283 Tungsten ore 4.5 3.4 3.1 4.7 3.7 6.3 29 Crude animal and vegetable material 4.2 3.9 7.4 6.4 5.8 6.9 292.4 Ginseng 0.2 0.2 0.4 1.2 (-0.6 1.9 292.9 Agar-agar 1.1 1.3 1.7 2.0 1.7 2.3 3 Mineral Fuels 2.2 2.8 2.6 2.5 2.6 1.9 14 Animal and Vegetable Oils and Fats 0.1 0.1 0.1 0.1 0.1 0.1 5 Chemicals o.6 1.0 0.9 o.6 0.8 0.1 6 Manufactured Goods by Material . 6.2 28.1 42.3 25.5 66i1h 62 Rubber manufactures - l 0.9 0 .5 63 Wood and cork 1.2 2.3 6.3 11.5 6.7 18.2 631 Veneer sheets and plyuods 1.2 2.3 5.8 11.4 6.5 18.0 65 Textilos 1.0 2.2 7.8 19.6 9.9 26.3 t;2 Cotton fabrics wove 0.9 1.8 4.3 11.1 5.7 10.5 Non-metallic mineral maufactures - 0.1 0.9 1.9 1.0 2.R 67 Iron and Steel 0.1 0.6 11.7 14.5 5.6 12.7 68 Non-ferrous metals 1.3 0.3 0.3 2.9 1.1 69 Manufacture, of metal 0.2 0.6 0.5 0.9 0.7 7.2 7 Machinery and Tranport Euipment 0.9 1.4 14.1 2.2 2.6 5.5 71 Machinery, excluding electrical TT l67 TB5 72 Electrical machinery and appliances - 1.0 0.7 1.0 0.8 1.9 73 Transport equipment 0.2 1.0 2.2 0.7 1.3 1.1 8 Miscellaneous Manufactured Articles 0.8 2.0 6.4 13.2 7.2 34.5 814 Clothing - iTT WT3 ;; 17 85 Footwear - 0.2 0.7 0.9 0.6 1h.1 89 Misoellansous manufactures 0.7 0.5 0.9 5.0 2.1 8.9 899 Human hair and wigs - - 0.2 3.7 1.3 6.8 9 Unclassified 2.2 0.1 0.1 0.2 0.1 0.2 Total Ecports 1 50.9 4 86.8 119.1 86.9 175.1 (Continued on next page) Tale 24 cont 'd. Jan.-Aug. 1968 SITC Jan.-Aug. Jan.-Aug. as. A I of Code Commodities 1966 1967 _ 1967 1968 Jan.-Aug. 1967 O Food and Live Animals hl.3 37.9 26.9 28.2 lo1L.8 03 Fish and fish preparations 21.7 26.9 1 T5 92.h 0Ls Cereal; and cereal preparations 7.3 0.8 o.8 o.6 85.7 042 Rice 6.8 - - 05 Fruit and vegetables 11.2 9.0 7.l 10.6 1h3.2 05I 'Dried laver 8.7 6.5 6.9 9.9 1h3.5 1 Beverage and Tobacco 6.9 7.0 5.0 5.9 118.0 12 Tobacco 17 10O.0 2 Crude Materials Inedible (excluding fuels) Li6.7 58.o 37.0 35.7 96.5 26 Textile fibers (not manufactured) 127§ -17.6 10.5 1-07 261 Raw silk 11.6 lh.9 9.4 9.9 105.3 27 Crude fertilizer and crude materials .7 5.8 3.5 3.9 111.1, 28 Metalliferrous ores and metal scrap 21.0 21.6 13.6 15.9 116.9 281 Iron ore 6.1 6.1 L4.O 4.7 117.5 283 Tungsten ore 9.5 11.C) 6.9 6.5 Qh.? 29 Crude animal and vegetable material 7.7 10.9 6.9 !t.7 >68.1 292.A Ginseng 2.0 2.9 1.1 2.1 190.9 292.9 Agar-agar 2.9 4.7' 4t.1 1.0 MA 3 Mineral Fuels 1.5 1.8 0.8 1.5 187.5 L Animal and Vegetable Oils and Fats 0.1 0.1 0.1 0.1 100.0 5 Chemicals 0.7 2.4 0.5 OA. 80.0 6 Manufactured Goods by Material 8_.2 l0l.4 57.4 88.9 154I.9 62 Rubber manufactures 1.5 2.0) 1.4 1. 127.h 63 Wood and cork 30.6 36.6 19.4 37.6 193.8 631 Veneer sheets and plywoods 29.9 36.1t 19.4 37.5 193.3 65 Textiles 34.5 48.9 29.0 10.5 19R. 652 Cotton fabrics, woven 10.1 12.6 80 8.7 108.8 66 Non-metallic mineral manufactures 1.6 1.0 o.6 0.5 83.3 67 Iron and steel 8.1 1.9 0.7 0.8 llh.3 68 Non-ferrous metals 2.5 1.8 0.7 1.0 Th2.9 69 Manufactures of metal 4.2 7,0 4.0 6.2 155.0 7 Machinery and Equipment 9.6 1h.2 7.5 13.3 177.3 71 Machinery, excluding electrical 37 T.0 -I 2.2 iOT.T 72 Eleetrical machinery and appliances 5.1 7.l- 3.5 10.2 201.)1 73 Transport equipment 0.8 22.8 1.h 0.9 6h.i 8 Miscellaneous Manufactured Articles 59.2 97.2 57.1 105.7 185.1 8L Clothing 3-3 59.2 3W. 71.6 777.3 85 Footwear 5.5 8.1 5.7 7.2 126.3 89 Miscellaneous manufactures 18.9 27.6 15.8 25.5 161.A 899 Ibman hair and wigs 15.5 23.3 12.9 22.2 172.1 9 Unclassified 0.2 0.2 0.1 0.1 100.0 Total Exports 250.3 320.2 192.4 279.8 1h5.h Note: (-) denotes small magnitude. Source: Bank of Korea, Economic Statistics Yearbook and Monthly Statistical Review Table ' Analysis of Growth and Commodity Composition of Exports (Value in million US dollars) Arnual Average Rate of Growth () Jar1 -A.u . V a 1 u e Composition (%) 1968 over 1962-64 Jan. -Aug. 1962-64 1962-64 Jan,-A.[i SITC Average 1967 1968 Average 1967 to 1967 1967 0 Food and live animals 22.1 37.9 28.2 25.3 11.8 14 4.8 03 Fish and fish preparations 10.9 -29 E7 04 Cereals and cereal preparations 4.2 0.8 0.5 4.9 0.3 -33 -37.5 05 Fruit and vegetables 3.7 9.0 10.5 4.3 2.8 25 41.9 1 Beverage and tobacco 0.2 7.0 5.9 0.2 2.2 135 22.9 2 Crude materials inedible 25.6 5 29.6 IT-. 23 26 Textile fibers (not manufactured) T. 17.0 11.0 6.4 332 27 Crude fertilizer and crude material 3.4 5.8 3.9 3.9 1.8 14 11.4 28 Metalliferrous ores and metal scrap 10.6 21.6 15.9 12.1 6.7 20 16.9 29 Crude animal and vegetable material 5.8 10.9 4.7 6.7 3.4 17 -31.9 3 Mineral fuels, lubricants and related materials 2.6 1.8 1.5 3.0 0.6 -8 87.5 5 Chemicals 0.t 2.4 07. 0.9 0.7 32 -20,0 6 Manufactured goods by materials 2 101.4 ____ 29.4 31.7 T- 577T7 63 Wood and cork manufactures T67 367 37.6 7.7 T117 53 93 i 65 Textiles 9.9 49.0 Wo5 11.4 15.3 49 38.7 67 Iron and steel 5.6 1.9 0.7 6.4 o.6 -23 0.0 68 Nonferrous metals 1.1 1.8 0.9 1.3 o.6 12 28.6 69 Manufactures of metals n.e.s. 0.7 7.0 6.2 0.8 2.2 80 55.0 7 Machinery and transport equipment 2.6 14.2 13.3 3.0 4.4 52 77.3 71 Machinery, excluding electrical 0.6 4{0 2 0o7 9. 72 3lectrical machinery and appliances o.6 7.4 10.2 0.7 2.3 85 91.4 73 Transport equipment 1.4 2.8 0.7 1.5 0.9 21 -35.7 8 IMiscellaneous manufactured articles 7.2 97.2 105.7 8.3 30.4 92 85.1 Lt Clothing 4.1 59.2 -77 417 T85 9 107.5 5 tFootwear 0.6 8.1 7.2 0.7 2.5 90 26.3 89: Xiscellaneous manufactures 2.1 27.6 25.5 2.4 8.6 90 61.4 h49 Cithers 0.2 03 0.2 0.2 0.1 - - Total eymorts 86,9 320.2 279.7 100.0 100.0 ?9 . 4 '_irrlYce Tebl'l 241 Table 26 Exports to Principal Countries by Major Conxrodities (million U.S. dallars) (i) (2) (3) (L) (5) (6) Exports to 3 Countries Total (4) as % SITC Code Commodities U.S.A. Japan Hong Kong (1)+(2)÷(3) Exports of (5) O Food and Live Animals Average 1962-64 1.5 13.3 4.2 19.0 22.1 86.0 1967 7,9 23.1 0.5 31.5 37.9 b3.1 03 Fish and Fish Preparations Average 1962-64 1.4 6.1 1.5 9.0 1(3.9 82.6 1967 7.5 lL.9 0.2 22.6 26.9 84.0 05 Fruit and Vegetables Average 1962-6h - 2.2 0.2 2.4 3.7 64.9 1967 0.3 7.2 0.2 7.7 9.0 85.6 2 Crude Materials, Inedible (excl. fuels) Average 1962-64 5.6 12.3 1.9 19.8 25.6 77.3 1967 11.2 33.7 2.0 h6.9 5(.0 80.9 26 Textile Fibers (not manufactured) Average 1962-64 3.2 0.3 0.2 3.7 5.6 66.1 1967 6.6 9.7 - 16.3 17.0 95.9 261.3 Raw Silk Average 1962-6h 3.0 - - 3.0 4.6 65.2 1967 6.L4 8.3 - 14.7 14.9 98.7 27 Crude Fertilizer and Crude Materials Average 1962-64 - 2.B 0.1 2.9 3.14 85.3 1967 - 4.9 - 4.9 5.8 84.5 28 Metalliferous Ores and Metal Scrap Average 1962-64 1.0 6.8 - 7.8 10.5 74.3 1967 0.7 14.5 - 15.2 21.6 70.4 (Continued on next page) Table 26 contid. SITC Code Commodities (1) (2) (3) (4) (5) (6) 281.3 Iron Ore Average 1962-64 - 5.2 _ 5.2 5.2 100.0 1967 - 6.1 - 6.1 6.1 100.0 283.92 Tungsten Ore Average 1962-64 0"8 o.5 1.3 3.7 35.1 1967 o.6 4.3 - 4.9 11.0 44.5 29 Crude Animal and Vegetable Material Average 1962-64 1.4 2.2 1.4 5.0 5.8 86.2 1967 1.2 4.6 2.0 7.8 10.9 71.6 6 Manufactured Goods by Material Average 1962-64 10.9 1.5 2.0 14.4 25.5 56.5 1967 16.4 13.3 10.2 69.9 101.4 68.9 63 Wood and Cork Average 1962-64 6.4 - 0.1 6.5 6.7 97.0 1967 32.8 1.6 - 34.4 36.6 914.0 631 Veneer Sheets of Plywood Average 1962-64 6.4 - 0.1 6.5 6.5 100.0 1967 32.7 1.6 - 34.3 36.4 94.2 65 Textiles Average 1962-64 3.4 0.8 1.5 5.7 9.9 57.6 1967 10.7 5.9 9.9 26.5 49.0 54.1 652 Cotton Fabrics, Woven Average 1962-64 2.4 0.4 0.4 3.2 5'7 56.1 1967 3.1 0.1 2.1 5.3 12.6 42.1 66 Non-Metallic Mineral Manufactures Average 1962-64 0.3 - 0.1 0.4 1.0 40.0 1967 0,3 0.1 - 0.4 1.0 40.0 69 Manufactures of Metal Average 1962-64 0.3 0.1 - 0.4 0.7 57.1 1967 1.5 4.3 - 5.8 7.0 82.9 (Ccnti77ed ov n0.-.t pxto U! e, Table 26 cont'd. Sr51G Code Commrlodities (1) (2) (3) (I4 (5) 7 Machinery and Transport .Equipment Average 1962-64 0.5 0.5 _ 1.0 2.6 36.5 1967 5.6 1.5 1.3 8.4 14.2 59.2 71 Machinery, Excluding Electrical Average 1962-64 0.0 0.1 - 0.1 0.6 16.7 1967 0.6 0.5 - 1.1 24.0 27 72 Electrical Machinery and Appliances Average 1962-64 0.1 0.3 0.4 0.8 50.0 1967 4.5 0.5 1.2 6.2 7.4 83.0 73 Transport Equipment Average 1962-64 0.3 0.0 -- 0.3 1.3 23.1 1967 0.5 1.0 2.8 35.7 8 Miscellaneous Manufactured Articles Average 1962-624 5.4 0.4 0.2 6.o 7.2 83.,3 1967 66.o 11.1 1.0 73.1 97.2 80.3 84 Clothing Average 1962-64 3.1 0.1 - 3.2 4.1 73.0 1967 33.6 10.0 0.2 43.8 59.2 7U.0 851 Footwear Average 1962-64 0.6 - - 0.6 0.6 100.0 1967 7.3 0.1 - 7.4 8.1 9i.4 89 Miscellaneous Manufactured Average 1962-64 1.5 0.2 0.0 1.7 2.1 61,0 1967 24.4 0.9 0.6 25.9 27.6 93.8 1,3,4,5,9 Others Average 1962-64 0.1 2.6 0.2 2.9 3.8 76.3 1967 0.2 2.0 - 2.2 11.5 19.1 1 to 9 Total A1verage 1962-64 24.0 30.6 8.5 63.1 86.9 72.6 1967 137.3 84.7 15.0 237.0 320.2 72.0 -'s -oz: -1U G. Comm-,aodity Trade Statistics Table 27 Imports by Sources of Funds and by Commodity Structure (million US dollars) Average 1962 1963 196I1 1962-64 1965 1966 1967 A. Total Imports Total Imports 421.78 560.27 404.35 462.13 463.44 716.44 996.25 Korean Foreign Exchange Imports 178.99 232.71 184.50 198.73 248.35 401.91 673.51 Official Aid Imports 218.54 232.64 142.63 197.93 135.54 143.63 119.18 External Loan Imports 4.54 52.13 34.61 30.43 31.48 108.42 167.33 Relief and Other Imports 19.72 42.81 42.61 35.05 48.07 62.48 36.23 B. Consumption Gcoc's Total Imports 74.42 204.74 74.75 117.97 70.45 82.85 111.40 Korean Foreign Exchange Imports 18.05 42.51 30.81 30.46 15.51 27.53 89.74 Official Aid Imports 32.11 67.29 28.62 42.67 30.53 12.98 10.76 External Loan Imports 4.54 52.13 0.01 18,89 0.37 1.53 2.38 Relief and Other Imports 19.72 42.81 15.31 25.95 24.04 40.81 8.52 C. Raw Materials and Intermediate Goods Total Imports 285.56 291.38 260.08 279.00 319.85 461.87 574.58 Korean Foreign Exchange Imports 111.98 134.34 115.13 120.48 195.87 295.49 429.21 Official Aid Imports 173.58 157.05 111.42 147.35 103.38 129.98 99.63 External Loan Imports - - 12.74 4.25 2.48 22.66 30.27 Relief and Other Imports - - 20.79 6.93 18.12 13.74 15.47 (Continued on next page) Tpble 27 cont'do Average 1962 1963 1964 1962-64 1965 1966 1967 D. Capital Goods Total Imports 61.80 64.15 69.52 65.16 73.14 171.72 310.27 Korean Foreign Exchange Imports 48,96 55.86 38.56 47.79 36.97 78.89 154.56 Official Aid Imports 12.84 8.29 2.59 7.91 1.63 6.67 8.79 External Loan Imports - - 21.86 7.29 28.63 84.23 134.68 Relief and Other Imports - - 6.51 2.17 5.91 7.93 12.24 Source: Bank of Korea, Economic Statistics Yearbook, 1968. Note: Consumer goods are SITC Groups 0,1,8 and 9. Raw materials and Intermediate goods are SITC Groups 2,3,4,5 and 6. Capital goods are SITC Group 7. Table 28 Imnports by Sources of Funds and by Countries (in million US dollars) Korean Relief and Total Foreign Exchange Official Aid Ecternal Loan Other Imports Imports ITnports Imports limports U.S.A. 1964 202.06 38.78 134.83 28.46 1965 182.29 28.81 120.94 32.53 1966 253.69 57.42 136.25 14.58 h5545 1967 305.16 139.76 109.60 4o.88 14.93 Ja,oan -1$07 110.12 86.h4 0.98 22.70 1965 166.63 1hv.69 3.11 18.82 1966 293.79 226.28 3.90 50o54 13.08 P67 443.03 330.99 h.42 90.24 17.38 Canada 1'9-3h 2.5L 2.30 0.13 0.11 1965 1.64 0.82 0.62 0.20 966 2.69 1.79 0.22 - o.69 1967 8.39 4.13 2.15 1.79 0.32 C h in a (Taiwan) 1964 - - 1>65 10-47 7.23 2.96 0.28 i966 10.83 8.29 2.48 0.oh 0.02 1967 27.22 26.09 0.94 0.18 0.02 France "I196T4 0.12 0.10 - 0.02 1965 2.50 0.23 - 2.28 1966 10.91 0.35 - 10.41 0.15 1967 16.72 1.42 - 15.26 o.o0 (Continued on next page) Table 28 cont'd. Korean Relief and Total Foreign Exchange Official Aid External Loan Other Imports Imports Imports Imports Imports 'West Germany 1964 2338 6 14191 0.09 8.85 1965 16.05 8.69 0.01 7 .36 1966 20.25 9.76 - 9.68 0.81 1967 30.95 17.67 - 12.81 0.h8 Italy 1.961 41.50 41.24 0.06 0.21 1965 1.85 1.60 0 0.25 l2'66 16.08 2.17 - 13.86 0.06 1967 6.36 3.28 0.01 3.03 0.04 U.K. 19611 3.18 2.73 - 0.45 1965 1.19 0.85 0.06 0.28 1966 2.21 1.26 0.16 0.50 0.29 i967 5.26 4.38 0.03 0.62 0.23 Table 29 Cormurmodity Composition of Imp orts (million U S dollars) SITC rver-g "ode Cummodities 1959 1960 1961 1962 1963 1964 1962-64 0 Food 27.3 31.6 40.1 48.o6 12o.6 68.2 79. 2 01; Cereals and cereal preparations 17.5 20.6 30.2 40.1 107.2 £0.8 69.L 0410 bheat 14.5 19.4 24.0 26.1 66.5 36.8 !3.1 *6 Su,Oar anu sugar preparations 7.6 8.8 8.3 14.5 4.7 3.8 4.3 1 n,cverages and Tobacco - _ _ .1 .3 .1 0.2 2 Crude llaterial, inedible (excluding fuels) 62.3 68.5 63.3 S9.7 107.1 97.1 97.9 23 Crude rubber (excluding synthetic) 6.7 7.6 5.c 6.9 7.9 5.9 6.9 24 Wlood, lumber and cork 6.5 C .1 7.4 18.1 2r'.4 13-.5 L5. 2 25 Pulp & Paper 2.7 3.4 5.0 (3.3 9.6 9.4 9"1 26 'C'extile fibres (not manufactured) 43.9 46.4 42.1 50.2 56.4 52.8 3,.2 2631 Law Cotton 30.8 28.6 29.4 .34.2 38.2 37.3 36.6 27 Crude fertilizer a crude minerals .3 .6 .5 1.7 3.4 4.3 3.1 20 iietallic ores A metal scrap - - - 1.4 4.8 3.9 3-4 3 liineral fuels, lubricants L related materials 38.2 23.0 27.4 30.6 34.4 2t.5 31., 33 Petroleum & netroleum products 29.2 22.4 23.1 2.4 33-. 23.5 l.i, 4 LAnimal : Vegetable Oils and Fats 2.5 2. 3.9 3.9 4.6 3.° 4.2 5 Che.Lical 77;7 7 6 .1 o 7 957-3 ___ u __3 51 Chemical elements -_ 0 compouncds 4.4 5.4 5.6 11.7 13.3 13.7 - -) 53 D2yeing, tanni.ng coloring materials 3.7 3-.4 4.0 5.3 3.7 3.7 1.^ 5, lledicinal & pharmaceutical products 4.1 3.4 3.2 3.8 I 3.° 4.7 5v Parti .LUers, manufactured 48.0 55.4 40.3 j 2. 3 48.0 53.4 -3 Plastic maaterials 3.1 3.7 3.3 4i.7 5.4 3.3 4.3 6, iianufactured Coods 38.1 47.0 3'.3 73.1 ;)3.3 46.1 63.2 63 ?extile yarn fabrics 7717 TTT TT 1793. T1,;L 2G 0 cc<, Nson-meta;lli c maineral 1.2 2.2 2.0 4.1 5.6 1. - .0 ,anuf actu-r us 37 y LTn C ,teel 8.7 11.6 7.3 21.J 32.5 14i.v 0 * Non-ferrous metals 3.4 3.1 3.2 7.3 0.v .134 .%luminuin 2.0 1.8 1.8 .4 3.6 1.7 6'.' llanufacture of metal 1.1 3.0 1.3 4.9 7.7 0 7 i:acclinery, Transport 2auipmont 41.0 40.1 42.4 G5.o 115.6 60.0 71 iHachinery (except electrical) 25.5 28.4 22.4 34.5 61.9 38.2 414. 72 ;;Ilectrical machinery '-.3 10.5 18.7 28.7 22.3 1907 7 3.i i,3 Trrair.ort equipment 7.0 1.2 1.3 6.6 31.3 1l.6 1 S I423cellaneous Manufactured 6.3 6.0 5.7 10'.' 8.0 5.3 7., .ir Licles 6G P-rofessional, scifentific 3.9 3.9 3.6 6.4 4.S 2.7 instruments 9 '.ot Classified 10.6 40.7 32.1 1. 3 1.2 1.2 11.3 TCTAL 1:72282 303.3 343.5 316.1 1 .2 *v60.3 4O04.4 IL'2.1 (continue on ne:.L )age .... able 29 eont'd. January-Aug.1968 S¢TC January-Aug. January-Aug. as a percent of Code Commoditie 1965 1966 1E67 1967 1968 Januar -Aug.1967 O Food 63.5 72.4 94.1 43.5 114.0 260.3 04 Cereals and oereal preparations A.4 6L3 76.6 34.5 94.9 275.1 0410 Wheat 35.9 40.5 46.3 26.2 37.6 143.5 Sugar and sugar preparations 4.0 6.2 9.7 5.2 7.5 144.2 1 Beverages and Tobacco .2 .3 .a .4 D.6 150.0 2 Crude Material, 110.0 153.9 208.5 123.1 156.4 127.1 Inedible lexcluding fuels) 23 Crude rubber 8.4 9.4 10.2 6.8 7.3 107.4 (excluding synthetic) 24 Wood, lumber and cork 20.8 43.1 58.5 32.6 51.9 159.2 ,'5 Pulp & Paper 9.4 12.9 16.6 10.7 16.3 152.3 26 Textile fibres (not manufactured) 59.7 66.6 80.3 48.7 54.3 111.5 2631 Raw Cotton 40.8 42.8 49.3 33.8 28.1 83.1 27 Crude fertilizer 4.7 5.1 12.6 6.8 9.1 133.8 a crude minerals 28 Mletallic ores 5.1 13.3 20.6 11.9 13.1 110.1 & metal scrap 3 Mineral fuels, lubricants 31.3 42.4 61.6 37.3 15.7 42.1 & related materials 33 tetro1eum & 28.9 40.6 59.4 35.5 14.0 39.4 petroleum products 4 hinimnal & Vegetable Oils 3.8 5.5 6.9 4.4 5.0 113.6 and Fats 5 Chemical 103.4 134.5 113.0 57.5 88.4 153.7 31 C1emical elements & compounds 16.1 20.8 33.4 19.9 29.4 147.7 53 Dyeing, tanning 4.8 4.6 7.1 4.1 4.6 112.2 & coloring materials 54 Mledicinal & 4.9 6.1 7.5 4.5 7.8 173.3 pharmaceutical products 56 Fertilizers, manufactured 65.8 88.9 43.9 15.2 26.6 175.0 58 Plastic materials 6.5 7.9 10.9 6.7 10.4 155.2 o 14anufactured Goods 71.2 125.2 183.7 109.8 147.5 134.3 GS5 aT3xtile yarn- abrics 66. 2 .7 lNon-metallic mineral 1.5 6.1 12.5 7.9 4.6 58.2 manufactures 7 Iron & steel 24.7 39.5 56.1 32.0 40.8 127.5 Non-ferrous metals 9.0 11.2 12.4 7.7 9.3 120.8 684 Aluminum 4.0 6.1 7.0 4.3 5.5 127.9 69 Manufaoture of metal 7.1 18,8 26.7 18.2 19.5 107.1 7 Iachaery Trspqrt 73.1 17.,7 310.2 186.5 336.3 180.3 ikuipnenX 71y (except 35.3 95.6 141.2 80.0 173.7 217.1 electrical) 72 Electrical machinery 12.6 26.1 47.6 27.7 64.2 231.8 73 Transport equipment 25.2 50.0 121.4 78.8 98.2 124.6 8 1iscellaneous Iianufactured 6.8 10.5 17.2 9.2 21.7 235.9 ticles _ _ 86 Proes6sional, scientific 3.9 5.4 9.5 5.2 7.9 151.9 instruments 9 Not Classified .2 - 0.1 - 0.1 - TOTAL IMPO0RTS 463.4 716.4 996.2 572.0 885.7 154.8 NOTUs (-) denotes small magnitude. Sources: Economic Statistics Yearbook; Nonthly Statistical Reviev:. Table 30 Analysis of Growth and Commodity Composition of Imports (Value in million US dollars) Annual Average Rate of Growth (M) Jan.-Aug. V a l u e Composition (%) 1968 over 1962-64 Jan.-Aug. 1962-64 1962-64 Jan.-Aug. SITC Average 1967 1968 Average 1967 to 1967 1967 O Food 79.2 94.1 114.0 17.1 9.5 4.4 260.3 04 Cereals and cereal preparations 69.4 76e6 -9791 -7 .7 7275l1 0410 Wheat 43.1 46.3 37.6 9.3 4.6 1.8 143.5 06 Sugar and sugar preparations 4.3 4.2 7.5 0.9 0.4 -0.5 144.2 1 Beverages and tobacco 0.2 0.8 o06 0.0 0.1 Ll.h 150.0 2 Crude material, inedible (excluding fuels) 97.9 208.5 156.4 21.2 20.9 20.8 12721 23 Crude rubber (including synthetic) 6.9 10.2 7.3 1T5 1.0 10.3 107.4 214 Wood, lumber and cork 19.8 5. 5 51.9 4.3 5.9 31.1 159.7 25 Pulp and paper 9.1 16.6 16.3 2.0 1.7 16.2 152.3 26 Textile fibers (not manufactured) 53.2 80.3 5h.3 11.5 8.1 10.5 111.5 2631 Raw cotton 36.6 49.3 28.1 7.9 4.9 7.7 83.1 27 Crude fertilizer and crude minerals 3.1 12.6 9.1 0.7 1.3 142.0 133,8 28 Metallic ores and metal scrap 3.1 20.6 13.1 0.7 2.1 56.8 110.1 3 Mineral fuels, lubricants and related materials 31.2 61.6 15.7 6.7 6.2 18.5 42.1 33 Petroleum and petroleum products 28.T 79-T I4 0 '62 .0- 19.9 39.4 4 Animal and vegetable oils and fats 4.2 6.9 5.0 0.9 0.7 13.2 113.6 5 Chemical 86.2 113.0 88.4 18.7 11.3 7.0 153.7 51 C~'hemical elements and compounds 12.9 33.4 7Th: 2 8 TT 26.o 107 53 !Dyeing, tanning and coloring materials 4.2 7.1 4.6 0.9 0.7 14.0 112.2 514 T?edical and pharmaceutical products 4.7 7.5 7.8 1.0 0.8 12.4 173.3 56 FArtilizers, manufactured 55.4 43.9 26.6 12.0 4.4 -2.5 175.0 58 Plastic materils 14.5 10.9 10.4 1.0 1.1 24.8 155.2 (Continued on next page) 'TsbiF, D eo>nt!1c'. iins '-is- vc4 -rac. 13t.e of Grcwt J . V a 1 u e Composition (%) 19c.' r 1962-64 Jan.-Aug. 1962-64 1962-64 Jan,.-Aug. srrc Average 1967 1968 Average 1967 to 1967 _1_67 6 Nianufactured goods 69.2 183.7 147.5 15.0 18,5 27.7 1.KL3 65 Te-.tile yarn fabrics 26.U 69. 56.2 5.6 7.0 27.59 162.7 66 Non-metallic mineral manufactures 5.0 12.5 4.6 1.1 1.3 25.8 58., 67 iron and steel 23.0 56.1 40.8 5.0 5.6 24.9 127.5 68 Non-ferrous metals aluminum 3.2 7.0 5.5 0.7 0.7 21.6 120.8 69 Manufadture of metal 5.2 26.7 19.5 1.1 2.7 50.5 107.1 7 i4Tachinery, transport equipment 85.0 310.2 336.3 18.4 31.1 36.2 180.3 71 Machinery (except electrical) 7L.9 1L1.2 173.7 9.7 1.72 33.2 217.1 72 Electrical machinery 23.6 L7.6 64.2 5.1 4.8 19.2 231.8 73 Transport equipment 16.5 121.4 98.2 3.6 12.2 64.7 124.6 8 Miscellaneous manufactured articles 7.9 17.2 21.7 1.7 1.7 21.4 235." 86 Professional, scientific instruments 4.6 g95 7.9 1.0 1.0 19.9 151.9 9 Not classified 1.3 0.1 0.1 0.3 0.0 -70.0 - ___________ - - - (approx.) Total Imports 462.1 996.2 885.7 100.0 100.0 21.5 154.8 Source: T-able 29. TPbLe31 Receipts and Payments on Goods and Services (million US dollars) A. Receipts 1962 1963 1964 1965 1966 1967 1. Exports, f.o.b. 54.8 86.8 119.1 175.1 250.3 320.2 2. Non-monetary gold - - 0.9 0.5 0.1 - 3. Freight and insurance on merchandise, 3.4 2.8 2.5 4.5 9.9 10.7 of which: 3.1 Freight 3.3 2.6 2.3 4.2 9.3 9.8 4. Other transportation, of which 0.8 2.0 2.9 3.4 3.9 6.4 4.1 Passenger fares 0.7 1.9 1.3 2.6 2.9 2.5 4.2 Port disbursements - 0.1 1.6 0.8 0.5 1.2 5. Travel 3.1 2.7 2.8 7.7 16.2 16.3 6. Investment income 5.2 3.4 3.8 3.7 5.6 10.1 7. Government n.i.e., of which 90.5 72.1 75.7 88.1 136.5 223.4 7.1 Military services 84.7 58.3 63.7 74.0 100.9 177.1 7.2 Other 5.8 13.8 12.0 14.1 35.6 46.3 8. Other services 5.4 5.7 3.3 6., _ 32.2 55.8 Total 163.2 175.5 211.0 289.8 454.7 642.9 B. Payments 1. Imports, f.o.b. 390.1 1497.0 364.9 415.9 679.9 908.9 2. Non-monetary gold - - - - - - 3. Freight and insurance on merchandise, 37.1 43.9 30.1 32.14 6.8 63.0 of which; 3.1 Freight 36.6 43.7 29.6 32.2 46.4 61.7 4. Other transportation, of which 5.9 5.8 8.3 10.7 10.6 8.6 4.1 Passenger fares 2.0 3.0 5.0 14.9 4.0 4.3 4.2 Port disbursements 3.8 2.4 2.8 4.4 5.0 2.3 5. Travel 2.2 2.3 2.4 1.7 3.2 8.4 6. Investment income 0.3 0.7 1.7 2.3 5.0 11.9 7. Government n.i.e. 10.2 17.5 13.6 12.8 13.7 19.2 8. Other services 9.4 11.1 11.0 8.2 18.5 40.0 Total 4 575.23 432.0 717.0 777.7 1,060.0 C. Balance -292.0 -402.8 -221.0 -194.2 -323.0 -417.1 Balance, excl. investment income and payments -296.9 _lo,5 -2'3.1 195.6 -323.6 -4i- 5 - &iaro' fl4F, J3BaLpirot of' Pe?r-riss _urbook, Valuno 20. 'Sable 32 Rsanre -.f az,nejnts, l9m42 - 6, (in million Ui. S. dallars) 1902 1963 1964 I965 1966 1967 A. GoocLs and Services (=I+1) -292.0 -402.8 -221.0 -196.2 -323.0 -417.1 I. Trade Balance -335.3 -410.2 -241.9 -240.6 -429.5 -588.7 1. Export f.o.b. 54.8 86.8 119.1 175.1 250.3 320.2 2. Imports f.o.b., of which: -390.1 -497.0 -36-.9 -415.9 -679.9 -?08.9 2.1. (U.S. aid imports, c.i.f.) (218.5) (232.6) (6i2.6) (135-5) (143.6, (119.2) 3. Non-monetary gold - - 0.9 0.5 C.1 - II. Net Services 43.3 7.6 23.9 46.1 106.5 171.6 4. Freight and merchandise insurance - 33.7 - 41.1 - 27.6 - 27.9 - 36.9 - 52.3 5. Other Transportation - 5.1 - 3.8 - 5.4 - 7.3 - 6.7 2.2 6. Travel 0.9 0.1 0.4 6.0 13.0 7.9 7. Investnent income 4.9 2.7 2.1 1.4 o.6 _ 1.8 8. Covernment, n.i.e. of which: 80.3 56.6 62.1 75.3 122.8 204.2 8.1 Military 84.7 58.3 63.7 76.0 100.9 177.1 9. Other Services - h.0 - 5.6 - 7.4 - 1.0 14.5 15.8 B. Transfer Payments 236.5 259.5 194.9 203.3 219.6 225.2 10. Private 36.5 52.0 53.9 68.7 97.6 90.7 11. Central Goverrment, 200.0 207.5 14l1.0 134.6 122.0 134.5 11.1 (U. S. Goverament grants) (201.0) (198.2) (139.7) (136.8) ( 94.2) ( 95.8) Balance on Current Account (A & B) - 55.5 -163.3 - 26.1 9.1 -103.6 -191.9 0. Capital Movements 6.6 95.5 23.6 - 2.2 221.4 291.9 12. Direct investment 0.6 4.8 - 0.8 C.3 13.6 11.3 13. Other private long term, net, of which: 2.2 37.3 12.5 39.4 163.8 180.5 13.1 From U. S. Government) 2.2 20.- 3.8 1.2 35.8 60.o 13.2 From German Govergnent) - o.6 0.8 1.3 2.1 3.0 13.3 (From Government of dJaDan) - - - - 16.4 13.4 (Other) - 16.3 7.9 36.9 125.9 99.1 16. Other private short term, net a/ _ 7.2 18.9 - I. - 23.1 6.4h 85.9 15. Central and local government oaans, net 11.2 36.5 - f - 18.8 40.8 17.2 15.1 (From U. S. Government) 1.7 6.6 1.8 - 17.6 18.3 15.2 (IDA) - 9.9 3.) - - 15.3 (From Government of Japan) - - - - 1L.1 6.8 15.4 (Euronean 0.E.C.D. Governments) - 5.1 3.4 2.0 2.3 1.0 15.5 U.S. Governrment holdings of Korean currency 6.0 7.0 - 0.9 - 11.3 3.2 - 7.1 15.6 Trade Credits on imLports of U.S. surplus agricultural commodities 3.9 1.7 2.1 - 1.9 4-5 - 2.9 15.7 Other trade credits, etc. - O., 4.5 6.3 - 7.6 0.9 1.1 16. Capital Subscriptions - 2.2 - 0.3 - 0.3 - - 3.0 - 3.0 D. Monetary Sectors (- indicates increase) 50.5 46.8 3.6 - 4.9 -117.6 -111.1 17. Commercial oan&s assets, niet - 1.3 - 0.2 1.3 - 1.1 - 3.5 - 53.; 18. Central Institutions assets, net 51.8 L.o 3.2 - 3.3 -117.0 - 57.2 _9. Monetary gold - - - 3.9 - 3.5 - 0.1 - E. Errors and Omissions - 1.6 1. - 1.1 - 2- .4 11.1 a/ Trade credits of maturity of more than 12 months but less that 3 years are included here instead of in item 13 ao separate information is not available. SOURCE IMF, Balance of Payments Yearboom, Vol. 1? and 20. Tabl e 33 Pxnblic Tl fenUes and !-erditul- (in billion won) 1966 (actual) 1967 (actual) ___ 1968 (2nd Supplemenital Budget) Govern- Conisol- Govern- Gonsol- Govern- Consol- Central ~~ment Local idated 'Cant ral ment Loc aL idated Central mn ocliae Govern- Enter- Govern- Pub li c Govern- Enter- Govern- Public Govern- Enter- Govern- Public ment prises cent Sector ment prises ment Sector ment prises ment&/ Sector I. Current Revenue 104.9 9.0 23.7 137.6 153.1 9.7 27. 2 190.0 220.6 16.0 27.7 264.3 Tax Revenue 94.4 - 15.9 110.3 138.0 - 14.1 152.1 201.8 -15.4 217.1 (Direct and indirect) (86.9) (15.9) (102.8) (128.0) -(14.1) (142.1) (i85.4) - (5.4) (200.7) (Monopoly profits)I (7.5) - - (7.5) (10.0) - - (10. 0) (16.4) -- (16.4) Other Income 10.5 9.0 7.8 27.3 15.1 9.7 13.1 37.9 18.8 16.0 12.3 47.1 II. Current Expenditure 76.7 - 35.7 112.4 93.9 - 49.0 142.9 123.9 - 57.3 181 . Public consumption 65.1 - 34.0 99.1 77.6 - 46.7 124.3 104.9 - 54.3 159 .2 (Wages and salaries) (46.3) - (23.7) (70.0) (55.@) - (132.31) (87.3) (76.0)) - (4o.i) (116.1) (Goods and services) (18.c - ~~~~~~~ ~~~~(10.3) (29.1) (22.6) - (4) (3.)(28.9) - (114.2) (43.1) Interest Payments 1.0 - 0.1 1.1 1.1 - 0.1 1.2 1.8 - 0.1 1.9 Extra-system transfers 10.6 - 1.6 12.2 15.2 - 2.2 17.4 17.2 - 2.8 20.0 III. Intra-System Transfers -26.1 - 26.1 - -42.9 - 42.9 - -59.9 - -9.2 9-i IV. Savings on Current Account 2.1 9.0 14.1 25.2 16.3 9.7 21.1 47.1 36.5 16.0 30.3 83.1 V. Counterpart Funds 35.5 - -35.5 34.1 -- 34.1 37.4 - - 37.4 'VIl. Uitilization of Loans -1.2 10.9 1.2 10.9 -1-.3 12.0 1.4 17.1 2.6 18.3 3.6 24.5 Domestic -1.3 5.4 1.2 5.3 -1.2 11.6 1.4 11.8 1.9 13.5 3.6 19.0 Foreign 0.1 5.5 - 5.6 -0.1 5.4 - 5.3 0.7 4.8 - 5.5 V-1II. Other Capital Resources 7.2 1.9 -5.5 3.6 5.8 -2.2 -6.8 -3.2 13.-0 10.0 -7.6 15.4 toar. repayment received 0.8 0.2 Q.1I 1,1 0.1 0.1 0.3 6.8d L. c 0.1 0.7 4.8 Depreciation reserves - 3.0 - 3.0 - L4.0, - 4.0 - 5.4 - 5.4 Use of cash balances 1.8 -3.9 -6.7 -8.8 -4.7 -10.9 -7.6 -23.2 2.2 -3.8 -1.1. 0 -12.6 Other capital transfers 4.6 2.A 1.1 8.3 L.1 4.6 0.5 9.2 6.3 6.3 2.7 17.8 VIII. Intra-System Capital Transfers -8.3 - 83 - -10.8 - 1.0.8 - -17.2 - 17.2 31 - IX. Extra-System Capital Transfers 4.7 - 0.8 5.5 5.1 0.1 1.1 6.3 6.4 0. 1 1.1 7.6 X. Investments 30.6 21.d 17.2 69.6 39.1 24.3 ~ 25.4 88.8 66.2 44.1 L2.5 2" 152.8 31' Gross capital formation if0.5 21.8 17.0 C 49.3 13.2 24.3 25.4 62.0 33.5 42.4 31.2 107.1 (Fixed capital formation) (10.5) (18.6) (17.0) (46.1) (13.2) (22.6) (24.5) (60.3) (33.5) (42.4) (31.2) (107.1) (I nventorie s) - (3.2) -(3.2) - (1.7) - (_1.7) - - - - 5ubscriorjion 6,0 - 605.8 -0.1 5.9 1L4.8 - 0.3 15.1 Loans 14.1 3 .2 1L.3 19.7 0.8 20.5 16.7 1.7 1.3 19.7 Subscription- and loans abroad ----04-- 0.4 1.2 - - 1.2 Source: Reclassified from economic classification of governarent transact,ions publi.shed by the BanK of Korea, Economnic Stati-st-ical Yearboos., various issu-es. I/ Monopoly profits include, cnly portions, of surplus in, monopoly which have been transferred to the general account; the remaining portion is includedi in enterprise revenu,.es. 21 Primary budge:. 3/ Includes adcLitoons in supolementary bungets of Clentral Government, totaling 9.73. No allocation of this 9.7B is given in the expeniLoure oats. They are included here in the Savings oDn Cu-rent Account ant Investmrent totals. Carle 3L. innl lssf a-if ,t, -r Gentr ' C-vf. Cnte tarze _963 - 1966 (in billion won) 96 3 _196L _ l_ _ _ _ Current Capit al Total Jurrent Capital Total Current Capital Total General Services 30.21 .66 30.87 34.61 .15 34.79 42.50 .31 42.81 General Administration 4.53 .45 5.28 4.92 .16 5.0)B 6.40 .19 6.59 Defense 20.1.5 - 20.45 2L.93 - 24.93 29.88 - 29.88 Justice and Police 4.91 .20 5.11 4.76 .02 4.78 6.23 .12 6.35 2omuiunity Services .13 .79 .89 .18 .87 1.0o4 .20 2.30 2.50 Water Supply, Severage - 73 .73 -. Other Civic Services .10 .07 .16 .18 .33 .51 .20 2.30 2.50 Social Services 15.63 1.63 17.26 17.32 1.42 18.74 20.00 2.11 22.11 Education 9.80 .95 l(.75 11.10 1.01 12.11 13.51 1.49 15.00 Priury 7.7l .59 d.33 5.36 .13 8.49 9.73 .86 10.59 Secondary .95 .21 1.17 .77 .01 .78 .99 - .99 Colleges adr Universities .64 .11 .75 .78 .14 .92 1.01 .46 1.47 Other Education .81 .05 .86 1.19 .73 1.93 1.78 .17 1.95 Health .46 .o4 .5O .93 .09 1.02 .84 .09 .93 Social Welfare 5.03 .D6 5.09 5.29 .02 5-31 5.09 .14 5.23 Housing - .56 .56 - .30 .30 - .36 .36 Others .56 .30 .59 Economic Services 2.70 23.07 25.77 2.94 194.6 22.40 3.73 25.46 29.19 Agriculture and Nonmineral Resources 2.10 5.56 7.66 2.49 3.61 6.10 2.59 7.07 9.66 Agriculture 1.35 3.26 4.61 1.1.2 2.4 3.86 1.14 4.92 6.o5 Forestry .14 1.10 1.24 .18 .70 .88 .05 .73 .78 Fishing and H;unting .02 1.19 1.21 .01 .44 .45 .31 1.30 1.61 Others .59 .01 .6v .87 .04 .91 1.10 .12 1.22 Mining, Manufacturing and .54 4.69 5.23 .36 3.82 4.18 .62 5.15 5.77 Cons tructi on Manufacturing .04 4.39 4'43 .05 3.38 3.42 .07 4.80 14.87 Others .50 .30 .80 .31 .44 .75 .56 .35 .91 Electric Power .03 3.62 3.66 - 3.50 3.50 .02 1.32 1.34 Transpar t .03 7.85 7.52 .06 5.99 6.0o4 .09 8.24 8.33 Communications - 1.34 1.34 .0oL 2.54 2.58 - 3.68 3.68 UJnallocable and Others 3.0) 1.32 4.41 3.27 .90 4.17 3.66 .33 3.99 Total 51.73 27.46 79.20 58.31 22.83 81.14 69.67 30.51 100.18 Table 34 cont'd. (in billion won) 1966 1967 1968Y/ Current, Capital Total Current Capital Total Current Capital Total General Services L:jj 1.50 59.64 72.57 1.92 74.49 93.98 6.19 100.17 General Administration 7.99 0.71 8.70 10.43 0.74 11.17 13.41 2.67 16.08 Defense 40.59 0.08 40.67 49.51 o.49 50.00 64.o8 1.40 65.48 Justice and Police 9.56 0.71 10.27 12.63 0.69 13.32 16.49 2.12 16.61 Community Services 0.83 5.o6 8.89 1.08 6.39 7.47 1.92 20.16 22.08 Roads and Water ways 0.T1 2T7E 2.92 0.14 3.82 3 0.21 I 15.8 Fire Protectior, O.O3 1.86 1.89 0.01 1.30 1.31 0.02 2.72 2.74 Water Supply and Sanitat-on Other Community Services o.66 0.42 1.08 0.93 1.27 2.20 1.68 1.77 3.45 Social Services 28.33 7.12 35.45 36.24 10.06 46.30 49.51 20.32 69.83 Education 19.14 6.09 25.23 24.28 p.56 31.84 34.96 11.99 h6.95 Administration 1.65 0.12 1.77 1.73 o.o6 1.79 1.16 0.97 2.13 Primary Schools lh.5h 5.28 19.82 18.83 6.48 25.31 27.06 7.48 38.54 Secondary Schools 1.33 0.10 1.43 1.79 0.19 1.98 3.87 o.58 4.85 Colleges and Universities 1.53 o.56 2.09 1.81 0.76 2.57 2.68 2.85 5.53 Other 0.09 0.03 0.12 0.12 0.07 0.19 0.19 0.11 0.30 Health 1.21 0.24 1.-5 1.43 0.26 1.69 1.84 0.63 2.47 Sozial Security and Special 7.87 0.08 7.55 9.79 1.15 lo.98 12.21 8.93 17.14 Welfare Services Other Social Services 0.51 0.71 1.22 0.74 1.09 1.83 0.49 2.78 3.27 Housing - 0.50 O.50 - o.60 o.60 1.00 1.00 Other 0.51 0.21 0.72 0.74 o0.9 1.23 o.49 1.78 2.27 Economic Services 5.58 46.89 52.47 6.55 58.91 65.86 10.56 89.97 100.53 Agriculture and Nonmineral 3.27 1336 14.03 17.31 213 6.29 T2 .3 9 Resourc*s Administration 0.19 - 0.19 0.33 - 0.33 1.47 0.22 1.69 Research 1.14 0.36 1.50 1.62 o.34 1.96 0.90 0.20 1.10 Agriculture 1.05 9.09 10.14 1.09 7.69 8.78 2.71 13.11 15.82 Forestry 0.35 0.86 1.21 0.07 1.09 1.16 0.87 2.92 3.39 Hunting and Fishing 0.54 2.98 3.52 0.92 8.18 9.10 0.73 5.95 6.68 Other - 0.07 0.07 - 0.01 0.01 - - - Fuel and Power -.03 3.09 3.12 0.05 4.10 4.15 0.10 9.65 9.75 Xining, Manufacturing and 0.90 7.59 8.89 1.29 12.04 13.33 1.88 18.36 16.24 Construction Manufacturing 0.13 6.99 7.12 0.11 11.11 11.22 0.49 12.07 12.56 Others 0.77 o.60 1.37 1.18 0.93 2.11 1.39 2.29 3.68 TraLnsport, Storage and D.66 20.10 20.76 0.03 22.50 22.53 0.41 31.08 31.45 Communic ations Administration and Research 0.09 0.02 0.11 0.07 - 0.07 0.10 1.68 1.78 Railways -0.12 10.77 10.65 - 10.77 10.77 - 13.92 13.92 Water Pransport o.61 1.83 2.44 0.01 2.55 2.56 O.36 3.71 4.07 Communic ati ons - 6.96 6.96 - 8.78 8.78 - 11.11 11.11 Air Transport o.o8 0.52 o.60 -0.05 0.40 0.35 -o.04 0.61 0.57 Other Economic Services 0.72 2.75 3.47 1.15 2.96 4.11 1.89 12.52 14.41 Unallocable Expend:iture 9.91 0.19 10.10 20.30 0.25 20.55 27.78 - 27.78 Interest on General Debts 0.81 - 0.41 0.57 - 0.57 5.88 - 5.48 Unallocable Transfers to 8.34 0.19 8.53 18.66 0.25 18.91 21.65 - 21.65 Local Government vther Unallocable Transfers 0.55 - 0.55 1.07 - 1.07 o.65 - 0.65 to Abroad Other O.61 - 0.61 - - - Total 102.79 60.76 163.55 136.78 77.53 214.27 183.75 136.64 320.39 1/ Budget estimat.es, including supplementary budget. Source: The Bank of Korea Table 35' Estimated Effects on Revenue of Tax Reform (in billion won) Estimated Effect Estimated of Reform on 1968 Revenues 1968 Revenues Total Direct Taxes 73.7 -0.8 Personal Income Taxes 2i.T -2.9 Corporate Income Tax 24.7 1.8 Other Direct Taxes 6.4 1.9 Total Indirect Taxes (Domestic) 79.2 8.3 Business Activity 1 0.1 Liquor Tax 11.6 2.5 Commodity Tax 22.5 2.0 Petroleum Tax 10.7 3.7 Total Domestic Taxes 152.9 7.5 Source: Ministry of Finance estimates of effects of tax reform. Tax revenue estimates are from Second Supplemental Budget. I a LI -L Special Financial Institutions: Fiscal Funds Compared to Credit Extension 1 9 6 6 1 9 6 7 Increase Increase Fiscal Funds Fiscal in Loans and Fiscal In Loans and 1968 1969 Funds Discounts Funds Discounts (est.) (budget) Korean Reconstruction Bank 8.9 9.8 12.3 5.8 6.4 11.5 Medium Industry Bank 1.8 2.7 2.8 6.6 1.8 1.9 Citizens National Bank .05 1.3 .5 3.1 .5 Korea Housing Bank - - .5 5.2 1.1 2.1 Korean Agricultural Cooperative Federation 4.4 3.9 2.8 7.3 5.2 5.6 Federation of Fisheries Cooperative .8 .6 3.7 3.9 2.7 2.8 Korean Exchange Bank (domestic currency loans) - - - 3.0 Total 15.9 18.3 22.7 34.9 17.7 24.4 Scurce: Brnk of Kore-, F'onthly St'tistic-l RQv ew for Increpses in Loons ,nd Discounts. Fiscal Pccounts for fiscpl funds (1960 'nd 19677M 2nd Supplement1 Budget for 1968 Pnd preliminary budget for 1969. Table 37 Outstanding Loans and Discounts of Banking Institutions-i by Irndustry (in billion won at the end of period) August 196h 1965 1966 1967 1968 Agriculture, Forestry and Fisheries 22.2 2.19 26.0 32.8 h8.2 (Commercial banks) (0.6) (0.7) (1.&) (209) (- iF,) (Korean Reconstruction Bank) (0.2) (- §) (0.5) (0.6) (1.5) Mining and Quarrying 2.5 2.9 3.7 7.3 11.2 (Commercial banks) (0.6) (0.9) (1.6) 3.7 (- S*) (Korean Reconstruction Bank) (1.7) (1.8) (1.9) (3.0) (4.0) Manufacturing 32.6 I7.4 68.1 105.4 14o.6 (Commercial banks) (11.9) (20.2) (32.3) (57.8) (- **) (Korean Reconstruction Bank) (1l.2) (18.6) (23.7) (25.4) (32.8) Construction 3.5 3.9 5.9 4.8 11.6 (Commercial banks) (1.1) (1.5) (2.2) (L.2) (_ ',) (Korean Reconstruction Bank)W (2.3) (2.4) (3.7) (- *) (.5) Electricity, Waterworks and Sanitation 11.1 11.1 13.8 18.0 19.8 (Commercial banks) (- ) (- *) (.5) (1.1) (- **k) (Korean Reconstruction Bank) (11.1) (11.1) (13.2) (16.8) (18.2) Commerce, Banking and Real Estate 7.3 12.1 16.9 29.L 42.3 (Commercial banks) (6.0) (10.6) (13.6) (24.2) (_ *S) (Korean Reconstruction Bank) (_ ') (- ") (- *) (- 7) (_ *) (Continued on next page) Table 37 cont'd. August 1964 1965 1966 1967 1968 Transportation aiad Storage 1.7 1.8 3.1 6.2 10.8 (Commercial banks) (.6) (.8) (1.3) (2.5) (- ) (Korean Reconstruction Bank) (.9) (.7) (1.3) (3.0) (5.8) Service 3.0 3.2 3.9 7.2 14.7 (Commercial banks) (1.2) (1.4) (2.9) (5.4) (- **) (Korean Reconstruction Bank) (1.1) (1.5) (.5) (.7) (3.2) a/ Totals include Commercial Banks, i'.A.C.F. and member cooperatives, the Iledium Industry Bank, Citizens National Bank, Korea Exchange Bank, the Korea Housing Bank and The Korean Reconstruction Bank; that is, all banking institutions except the Bank of Korea. b/The construction business of K.R.B. was transferred to the Korea Housing Bank at the time of its founding (July 1967) * Less than the unit 's Data not available Source: Bank of Korea Table 38 MoneNy Supply and Principal Factors Affecting It (in billion won at end of period) Sept. Sept. 19614 1965 1966 1967 1967 1968 Currency in circulation 24.9 31.6 42.9 57.6 52.0 68.3 Monetary deposits 23.7 33.1 41.3 62.4 54.1 72.3 Money supply 48.6 64.7 84.2 120.0 109.1 l14o6 Public sector borrowing from the banking system 7.5 15.7 12.2 11.5 12.9 17.4 Government overdrafts minus Government deposits 9.4 7.4 1.5 -1.5 -2.6 1.9 Government bonds held by all banking institutions 13.7 13.h 13.2 17.3 17.5 15e3 Loans to Government agencies by BOK 2.1 12.3 18.5 20.1 21.9 27.3 Minus Government lending to all banking institutions 19.0 18.7 22.7 27.6 26.9 3143 Claims on local Government of banking institutions 1.3 1.3 1.8 3.3 2.9 7.3 Private sector borrowing from the banking system 41.3 43.3 33.2 43.1 40.8 15.1 Loans with banking funds 39.11 578 75H7 146X5 130.9 236.7 Loans with fiscal fands 15.1 15.7 17.8 2147 24.3 32.7 Stocks and debentures 1.6 1.4 1.4 2.7 2.7 7.0 Minus time and savings deposits 14.8 31.7 71.8 130.* 117.1 231.3 Foreign Sector -1.9 6.4 41.5 78.1 61.5 99.1 Others 1.7 -0.7 -2.7 -12.7 -6.1 -21.0 Source: Bank of Korea Table 39 Wholesale and Consumer Price Indices A. Wholesalo Price Index August August Oct. Oct. Weight 1962 1963 196I 1965 1966 1967 1967 1968 1967 1968 '3 rains 130.6 53.3 80h.5 106.7 100 105.0 117.0 122.6 127.8 116.3 137.h All Commodities Except Grains 869.4 56.5 6L.2 87.8 100 109.4 115.7 116.6 125.3 118.5 125.7 All Commodities 1,000 56.o 67.5 9o.9 100 108.8 115.8 117.4 125.6 118.2 127.2 Producer Goods 01.5 57.6 63.9 85,0 100 108.0 110.9 111.4 117.0 112.6 117.8 Consurrier Goods 598.5 54.9 70.0 95.1 100 109.4 119.1 121.4 131.L 122.0 133.5 B. Seoul Consumer Price Index (1965 = 100) Food and Beverages !97.5 51.0 67.6 92.2 100 107.5 110.9 115.7 127.7 119.5 134.2 All Items 1,000 57.5 68.8 88.0 100 112.1 12L.2 125.2 137.6 129,0 ,142.0 Source: Bank of Korea, Economic Statistics Yearbook and Monthly Statistical Review