RELEASED FOR THEREuIiUiIRNsETo REPORTS DES 9 K RESTRICTED WITHIN Report No. EAP-12a ____________ e_ W ---------- --- 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 The report may not be published nor may it be quoted as representing their views.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 ECONOMIC POSITION AND PROSPECTS OF THE REPUBLIC OF KOREA (in three volumes) VOLUME III STATISTICAL APPENDIX March 17, 1970 East Asia and Pacific Department CURRENCY EQUIVALENTS U.S. $1.00 Won 305 Won 1,000 U.S. $3.28 Won 1,000,000 U.S. $3,279 PLAN PERIOD First Five-Year Plan: 1962 - 1966 Second Five-Year Plan: 1967 - 1971 Third Five-Year Plan: 1972 - 1976 This report is based on the findings of an Economic Mission which visited the Republic of Korea in September - October, 1969. The Mission was com- posed of the following members: Shu-Chin Yang Cbief of Mission Guenter H. Reif Chief Economist Thomas W. Berrie Power Economlst Russell J. Cheetham Planning Economist Wei-Ming Ho Agricultural Economist( Consultarit) Alexander Nowicki Industrial Economist Andreas Tsantis General Economist Mrs. Susan H. Condliffe assisted the Mission in programming the computer operation, and Mr. Rogelio G. David in statistical compilation. Table No. F. MONEY & CREDIT 6.1 Outstanding Loans & Discounts of Banking Institutions by Industry 6.2 Money Supply and Principal Factors Affecting It 6.3 Deposits and Credits of Banking Institutions 6.4 Interest Rates G. AGRICULTURE 7.1 Production of Agricultural Crops 7.2 Yield per Hectare by Major Crops 7.3 Utilization of Cultivated Land 7.4 Rice Planted Area Classified by Irrigation Facilities 7.5 Number of Livestock and Output of Livestock Products 7.6 Number and Tonnage of Fishing Vessels 7.7 Loans Extended from National Agriculture Cooperative Federation 7.8 Financial Status of NACF and Its Networks H. OTHER SECTORS 8.1 Growth and Structure of the Korean Industry 8.2 Size Distribution of Industrial Enterprises 8.3 Internmal and External Sources of Financing of Industry 8.4 Comparison of Wage Cost of Principal Manufacturing Products of Korea and Japan 8.5 Indicators of Performance 8.6 Growth of Domestic Traffic 8.7 Korean National Railroads - Transportation Equipment & Revenue 8.8 Number of Registered Automobiles 8.9 Transportation by Major Commodity I. WAGES & PRICES 9.1 Indices of Prices and Wages 9.2 Korean & International Prices for Selected Products (1i(.3) TABLE OF CONTENTS VOLUME III STATISTICAL APPENDIX Table No. A. POPULATION 1.1 Population Trends B. NATIONAL ACCOUNTS 2.1 Expenditure on GNP 2.2 Industrial Origin of GNP 2.3 Receipts and Payments of Factor Income C. EXTERNAL TRADE & PAYMENTS 3.1 Commodity Composition of Exports 3.2 Analysis of Growth and Commodity Composition of Exports 3.3 Exports to the United States & Japan by Major Commodities 3.4 Commodity Composition of Imports 3.5 Analysis of Growth and Commodity Composition of Imports 3.6 Imports by Sources of Funds and by Commodity Structure 3.7 Imports by Sources of Funds and by Countries 3.8 Receipts and Payments on Goods and Services 3.9 Balance of Payments, 1964-1969 D. EXTERNAL DEBT 4.1 External Public Debt Outstanding 4.2 Estimated Future Service Payments on External Public Debt E. PUBIIC FINANCE 5.1 Public Revenues and Expenditures 5.2 Functional Classification of Central Government Expenditure 5.3 Tax Revenue Table 1.1 Population Trends UN Mid-Year Estimate of: Population Annual Korean Census Crude Crude (Mbillion Growth Population Birth Death Persons) in , (Million Persons) Rate Rate w- M 1955 21.53 (Sept. 1) 1960 24.69 2.88 24.99 (Dec. 1) 1961 25.40 2.86 1962 26.13 2.85 4.00 1.05 1963 26.87 2.84 3.93 1.02 1964 27.63 2.84 3.85 .99 1965 28.38 2.70 3.74 .96 1966 29.09 2.50 29.16 (Oct. 1) 3.49 .9,3 1967 29.78 2.40 3.36 .89 1968 30.47 2.32 3.26 .87 1969 31.14 2.20 3.05 .83 Sources: UN Mid-Year Estimates: United Nations, Monthly Bulletin of Statistics Korean Population Census: Economic Planning Board Crude Birth Rate: Mfinistry of Health and Social Affairs, and Mission estimates of the effectiveness of the family planning program Crude Death Rate: MUnistry of Healtl and Social Affairs Table 2.1 (In bil-lio won a/ 1964 1965 1966 1967 1968 1969 At Current MArket Prioe Private Consumption Expenditure 585.96 669.08 805.90 973.55 1,191.75 1,474.33 General Government Consumption 61.95 76.02 104.82 132.17 175.28 223.39 Gross Domeatic Fixed Capital Formation *0.54 117.64 205.99 264.oo 402.35 549.96 Increase in Stocks 20.70 0.84 17.12 8.20 18.96 50.26 Exports of Goods and Services 42.06 68.61 106.81 144.61 209.30 290.72 Less Imports of Goods and Service. 96.53 128.93 207.82 279.42 416.81 544.08 Statistical Discrepancy - 3.14 - 5.06 -14.16 -22.71 -28.36 -38.98 Expenditure on GDP 691.54 798.20 1,018.66 1,220.40 1,552.47 2,005.60 Net Factor Income from the Rest of the World 5.25 7.65 13.38 21.95 23.18 24.54 Expenditure on GNP 696.79 805.85 1>032.04 1,242.35 1,575.65 2,030.14 Iess Indirect Taxee 33-92 47.13 72.31 98.66 147.71 Plus Subsidies 1.06 0.07 0.02 0.01 0.47 Less Provision for Consumption of Fixed Capital 36.93 45.73 57.89 73.80 99.71 National Income 627.00 713.06 901.86 1,069.90 1,328.70 At Constant 1965 Prices Private Consumption Expenditure 620.44 669.08 716.99 783.92 873.58 971.47 '6neral Government Conumption 71.18 76.02 84.76 93.42 105.64 118.34 Gross Dcmestic Fixed Capital Formation 93-33 117.64 190.63 232.09 325.63 413.95 Increase in Stocks 21.08 0.84 16.75 9.63 18.49 32.85 Epjort,s of Goo,a and Services 48.75 68.61 104.49 141.83 200.83 267.63 lAbs Imports of Goods and Services 114.0C 128.93 203.30 274.05 399.93 500.86 Statistical Discrepancy 3.04 - 5.06 - 9.58 -13.21 -19.16 -23.94 Expenditure on GDP 743.78 798.20 900.74 973.63 1,105.08 1,279.44 Net Factor Income frau Rest of the World 6.53 7.65 13.08 21.53 22.24 22.58 Expenditure on GNP 750.31 805.85 913.82 995.16 1,127.32 1,302.02 a/ Preliminary Sourcei Bank of Korea Table 2.2 Industrial Origin of GNqP (In billion won) a/ 1964 1965 1966 1967 1968 1969_ At Current alrket Prices Agriculture, Forestry and Fishery 320.27 311.63 372.31 395.48 454.46 581.18 Fishery ( 9.54) (13.62) (16.66) (24.03) (29.87) (33.93) Mining 12.34 14.73 16.59 2Q'.68 '. 20h40 23.42 Manufacturing 108.77 142.81 185.80 227.83 312.33 410.54 Construction 20.21 27.64 37.94 50.09 77.87 116.21 Electricity, Gas and Water 6.60 10.26 14.13 17.82 23.49 32.63 Electricity and Gas (5.73) (9.18) (12.81) (15.94) (20.53) (28.19) Transportation, Storage and Communication 23.91 32.14 50.73 71.92 100.27 125.52 Transportation and Storage (19.99) (27.00) (40.32) (59.53) (82.89) (103.30) Wholesale and Retail Trade, 84.93 119.27 158.16 197.82 252.88 334.38 Banking, Insurance and Real Estate 9.93 12.75 16.81 21.47 30.54 4o.81 Ownership of Dwellings 25.31 27;99 33.42 43.72 49.55 55.60 Public Administration and Defense 33.64 39.9h 53.84 67.15 85.64 105.80 Other Services 46.17 59.04 78.93 106.42 145.04 179.51 Education (14.49) (15.81) (23.69) (31.81) (45.55) (56.10) Rest of the Wforld 5.25 7.65 13.38 21.95 23.18 24.54 GNP 696.79 805.85 1032.04 1245.35 1575.65 2030.14 (continued on next page) Page 2 Table 2.2 a/ 1964 1965 1966 1967 1968 1969 At Constant 1965 Prices Agricultures, Forestry and Fishery 314I31 311.63 345.91 326,90 330,84 366.16 Fishery (12Q91) (13.62) (15.07) (17.56) (20.08) (20.42) Mining 13.36 1473 15.67 16.87 16,63 17.01 Manufacturing 116.78 142.81 165,76 205.33 263.01 322.06 Construction 21.83 27.64 34.84 38,47 53.87 73.68 Electricity, Gas and Water 8.47 10.26 12.24 15.77 19.32 24h64 Electricity and Gas ( 7.54) ( 9.18) (11.09) (14.27) (17.43) (22.26) Transportation, Storage and Communication 27.15 3214 37.67 45S56 56c80 68.75 Transportation and Storage (22.98) (27.00) (31,87) (38.68) (48.15) (58.51) Wholesale and Retail Trade 109,97 119.27 139,43 163,91 190.67 221.39 Banking, Insurance and Real Estate 12.02 12.75 13.79 1459 17.71 19.91 Owmership of Dwellings 27.32 27.99 28.93 30.09 31,50 32.81 Public Administration and Defense 38,88 39.94 42271 45.78 48.23 49.82 Other Services 53.69 59A00 63,79 70,36 76,50 83,21 Education (14o76) (15.81) (17.16) (18.00) (19.20) (20.40) Rest of the World 6.53 7.65 13,08 21053 22.24 22,58 GNP 750.31 805.85 913,82 995,16 1127,32 1302D02 a/ Preliminary Source: Bank of Korea Table 2.3 Receipts and Payments of Factor Income (In million US dollars) 1964 1965 1966 1967 1968 Factor Income Receipts 22.0 31.3 61.0 108.5 132.2 Remittances from Vietnam - - 22.9 70.5 72.8 Military - - (13.2) (30.0) (34.4) Civilian - - ) (9.7 (34.3) (33.6) Non-merchandise ) insurance - - (6.2) 4 4.8) Investment Income 3.8 3.7 5.6 10.1 12.4 Other Factor Services 18.2 27.6 32.5 27.8 47.0 Factor Income Payments 2.2 2.5 11.7 27.4 44.7 Investment Income 1.7 2.3 5.0 11.9 17.8 Other Factor Services 0.5 0.2 6.7 15.5 26.9 Net Factor Income 19.8 28.8 49.3 81.1 87.5 Source: BOK 1968 Statistical Yearbook, IMF Balance of Payments. EPB Table 3.1 SI TC (Jan-Sept) (Jan-Sept) Code Comoditiea 1965 1966 1967 1968 1968 1969 O Food and Live AnI als 37.9 L245 34 03 Fish and fish preparations 1i 1.7 2g8 Ir 014 Cereals and Cereal preparations 3.6 7.3 0.8 0.8 o.6 0.9 042 Rice 3.2 6.8 - - - 05 Fruits and vegetables 5.5 11.2 9.0 15.6 12.8 13.0 05IJ Dried laver 3.3 8.7 6.5 13.7 9.9 a/ 11.5 a/ l Beverage and Tobacco 6 0 8.6 6.1 10.4 12 Tobacco 19 . 7 2 Crude Materials Inedible (exoludin fuels) 31.0 46.7 58.0 61.5 41.5 47. 26 Textile fibers (not manufactured) 7.7 12.9 17.0 20.0 13.2 IC7 261 Raw silk 6.5 U1.6 14.9 18.0 9.9 a/ 11u. a/ 27 Crude fertilizer and crude materials 14.4 4.7 5.8 6.3 4.4 5.' 28 Metalliferrous ores and metal scrap 17.7 21.0 21.6 25.8 17.9 19.; 281 Iron ore 6.7 6.1 6.1 7.3 4.7 a/ 4.2 a/ 283 Tungsten ore 6.3 9.5 11.0 11.1 6.5 a/ 7.t a/ 29 Crude animal and vegetable material 6.9 7.7 10.9 9.3 5.8 6-v 292.4 Ginseng 2.9 2.0 2.9 4.4 2.1 a/ 2.;' a/ 292.9 Agar-agar 2.3 2.9 4.7 1.8 1.0 a/ 1.; a/ 3 Mineral Fuels 1 9 1.5 1.8 2.3 1.7 3 .5 14 Animal and Vegetable Oils and Fate 0.1 0.1 0.1 0.1 0.1 O.-, 5 Chemicals 2.4 3.1 0.7 2.() 6 Manufactured Goods by Material 66.4 84.2 101.4 3.6 101.1 124.6 62 Rubber manufactures e 2.0 r 63 Wood and cork 18.2 30.6 36.6 65.9 43.5 63. I 631 Veneer sheets and plywoods 18.0 29.9 36.4 65.6 37.5 a/ 59.0 a/ 65 Textiles 26.3 34.5 49.0 61.2 45.5 45.L 652 Cotton fabrics, woven 10.5 10.1 12.6 13.3 8.7 a/ 11.5 a/ 66 Non-metallic mineral manufacturea 2.8 1.6 1.0 0.9 0.5 3.5 67 Iron and steel 12.7 8.1 1.9 1.2 0.8 1.6 68 Non-ferrous metals 2.9 2.5 1.8 1.5 1.2 1.8 69 Manufactures of metal 2.2 4.2 7.0 9.7 6.9 6.9 7 Machinery and Transport EQuipment 5 9.6 1.2 21.5 15.6 30.2 71 Machinery excluding electrical7 2 72 Electrical machinery and appliances 1.9 5.1 7.4 18.9 12.0 23 l 73 Transport equipment 1.1 0.8 2.8 1.4 0.9 O.E 8 Miacellaneous Manufactured Articles J1,5 52.2 97.2 1 120.0 1 814 Clothing -I. 85 Footwear 4.1 5.5 8.1 11.0 9.0 8.5 89 MisceUaneous manufactures 8.9 18.9 27.6 40.9 28.5 47.4 899 Human hair and wigs 6.8 15.5 23.3 35.5 21.2 a/ 37.4 a/ 9 Classified 0.2 0.2 0.2 0.2 0.2 0.2 Total tCports 175.1 250.3 320.2 4j55. =.I 431.8 Exports to military forces in Vietnam b/ b/ 14 5 30.8 20.8 19.2 Orand Total 334.5 486.2 340.1 451.0 a/ First 8 months only b/ Figures are not available, but included in the item noovernmumtl in the balance of payment. statomente Source: Bank of Korea Table - . Analysis of Growth and Commodity Composition of Exports Annual Averaga Jan-Sept.1969 Col0podtion (%) Rate of Growth(%) over SITC 1964 19 1964 to 1968 Jan-Sept.1968 Code Ca dity M O Food and live u n2.2 14.0 9 03 Fish and fish preparations 7;7 B .; 04 Cereals and cereal preparations 2.0 0.2 -23.7 50.0 05 Fruit and vegetables 5.7 3.4 23.0 1.6 1 Bevera and Tobacco 0.2 1.9 44.0 7 2 Crude mterials~ , dible 26 l3 39 26 Textile fibers (not manulDacturd) 6.0 404 29.0 27 Crude fertil-izer and crude material 3.7 1.4 9.4 18.2 28 Metalliferrous ores and metal scrap 11.1 5.7 18.3 7.3 29 Crude anin-l and vegetable material 5.4 2.0 9.8 19.0 3 Mineral fuels, lubricants and related materials 2.1 0.5 -2.1 105.9 5 Chwicals 0 0.7 50.0 185.7 6 Ranuactured goods by materials 37. 3 36.02 63 Wood and cork snufactures 9.7 14.55,04505 65 Textiles 16.5 13J4 33.0 -0.2 67 Iron and Steel 3.8 0.3 -28.1 100.0 68 Non-ferrous metals 2.4 0.3 -15.2 50.0 69 Manufactures of metals, n.e.s. 0.8 2.1 83,0 7 Machiner, and Transport equipmant 1.8 5.4 85.0 93.6 71 Machinery, excluding electrical 0.9 70.0 11W3 72 Electrical mnchinery and appliances 0.8 4.2 100.0 95.0 73 Transport equipment o.6 0.3 18.9 -llol 8 Miscellaneous ma=tfactured articles 11.1 26.7 87.0 47.9 84 Clothinig 72.6 100.0 7 ; 85 Footwear 0.8 2.4 86.0 -5.6 89 Miscellaneous manufactures 4.2 9.0 67.0 66.3 4,9 others 0.2 0.1 _ Total Exeorts 100.0 100.0 39.0 35.2 Source: Calculated by the Mission from Table 3.1 Table 3.3 Exports to the United States and Japan by Major Commodities (f.o.b. in million U.S. dollars) (1) ~(2) (3) (4) (5) Exports to 2 Countries Total (3) as % SITC Code Commodities U. S. A. Japan (1) + (2) xports of (4) O Food and Live Animals Average 1962-64 1.5 13.3 14.8 22.1 67.0 1968 10.4 28.2 38.6 44.5 86.7 03 Fish and Fish Preparations Average 1962-64 1.4 6.1 7.5 10.9 68.8 1968 10.0 12.1 22.1 25.8 85.7 05 Fruit and Vegetables Average 1962-64 2.2 2.2 3.7 59.5 1968 0.3 13.9 14.2 15.6 91.0 2 Crude Materials Inedible (excl. fuels) Average 1962-64 5.6 12.3 17.9 25.6 69.9 1968 9.2 34.1 43.3 61.5 70.4 26 Textile Fibers (not manufactured) Average 1962-64 3.2 0.3 73.5 5.6 62.5 1968 7.6 10.0 17.6 20.0 88.o 261.3 Raw Silk Average 1962-64 3.0 - 3.0 4.6 65.2 1968 7.2 8.9 16.1 18.0 98.4 281.3 Iron Ore Average 1962-64 - 5.2 5.2 5.2 100*0 1968 0.1 7.0 7.1 7.3 97.3 283.92 Tungsten Ore Average 1962-64 0.8 0.5 1.3 3.7 35.1 1968 0.3 3.6 3.9 11.1 35.1 Page 2 Table 3,3 E)ports to the United States and Japan y Major Commodities (f.o.b. in million U.S. dollars) SITC Code Commodities (1) (2) (3) (4) (5) 6 Manufactured Goods by Material Average 1962-64 10.9 1.5 12.4 25.5 48.6 1968 76.5 1407 912 143.6 63.5 631 Veneer Sheets of Plywood Average 1962X64 604 - 604 6,5 98.5 1968 60,5 0,5 61.0 65.7 92.8 65 Textiles Average 1962-64 3.4 o08 4.2 9o9 4204 1968 12.3 7,9 20.2 61.2 33,0 652 Cotton Fabrics, Woven Average 1962-64 2.4 0,4 2.8 5,7 49.1 1968 3e7 1l0 4.7 13,3 35,3 7 Machinery and Transport Eg2iMent Average 1962-64 0,5 0.5 10 2.6 38.5 1968 16.7 1.2 17.9 24.5 73.1 71 Machinery, Excluding Electrical Average 1962-64 0.0 01 0.1 0.6 16.7 1968 2.6 0.3 2.9 4.2 69.0 72 Electrical Machinery and Appliances Average 1962-64 001 0°3 0°4 0.8 50.0 1968 13.7 0.7 144 18.9 76.2 73 Transport Equipment Average 1962-64 0.3 00 0.3 1.3 23.1 1968 0,4 0,2 0,6 o14 42.9 Iq2e 3 Table 3.3 Exports to the United States and Japan b Mjor Commodities (f.o.b. in million U.S. doTllars) STTC Code Commodities (1) (2) (3) (4) (5) 8 Miscellaneous Manufactured Articles Average 1962-a 5.4 0.4 5.8 7.2 80.6 1968 118.7 18.3 137.0 167.0 82.0 84 Clothing Average 1962-64 3.1 0.1 3.2 4.1 78.0 1968 66.7 16.7 83.4 112.2 74.3 851 Footwear Average 1962-64 0.6 - o.6 0.6 100.0 1968 9.8 - 9.8 11.0 89.1 89 Miscellaneous Manufactured Average 1962-64 1.5 0.2 1.7 2.1 81.0 1968 36.6 1.3 37.9 0-9 92.7 899 Human Hair and Wigs Average 1962-64 0.1 0.0 0.1 0.1 100.0 1968 35.3 0.8 36.1 37.8 95.5 1,3,4,5,9 Others Average 1962-64 0.1 2.6 2.7 3.8 71.1 1968 2.7 2.9 5.6 14.3 39.2 O to 9 Total Average 1962-64 24.0 30.6 54.6 86.9 62.8 1968 235.5 99.7 335.2 455.4 73.6 Solirce: -oreign Trade of Korea - Ministry of Finance, Republic of Korea Table 3.L Co_odity Composition olf l rte (o.i.f. in millon US doflarsJ S1 TIC (Jan-%pt.) (Jan-Sept.) Crode Comoditiee 5 1 16 s 6 1 6 I Food OI, e ~~Is a I c. real preparatione W7o-5 T .14 reale It 36.8 35.9 40.5 46.3 62.8 41.5 n.a. CX 5ugu ,nd cagar prerarations 3.8 4.0 6.2 9.7 12.3 8.6 11.3 1 Ie,,er.gee ukt Tobacco '1 .2 *3 .8 1.4 1.1 1.3 2 C-uIe Material. lnedible (exclud fuels) 91 1.0 15.'9 208.5 267.1 182. _9.8 . o i n blier (excluding synthetto) 3UE 18.1410.2 .1 2 W oo, lumber and cork 18.5 20.8 43.1 58.5 91.5 63.1 82.3 2rs Nlp Anta Paper 9.- 9.4 12.9 16.6 22.5 18.14 17.9 fibers (not manufactured) 52.8 59.7 66.6 80.3 90.3 61.7 69.6 ;1 H.. COttoI 37.3 40.8 42.8 49.3 149.1 32.7 n.a. G2Idl, feitillzer and orude minerals 4-3 4.7 5.1 12.6 16.0 10.1 16.5 Zi Meta0llc, oree and emtal scrap 3.9 5.1 13.3 20.6 27.7 15.9 31.7 A MMin-ral iirlo. lubricants and related materiale 28.5 31.3 42.4 61.6 75.5 16.8 7 33 tetroleac and petroleum products ;^ 4 Wi ; 7 73-:-8- 4 An iml acid Vegetable oils and fate 3 3.8 5.5 La 8.1 5.9 7.0 Chemlc. 8i.3 103.4 134.5 113.0 128.5 1 991 51 Chhetical eI1ements and coepounda 2 T 1. bw33. 47.3 62. 9 53 Dyreing, taining aed coloring materials 3.7 I4.8 4.6 7.1 7.8 5.3 7.7 jl, Medicinal and pharmaceutical products 3.8 14.9 6.1 7.5 11.8 8.14 9.6 56 Fertlitzers, manufactared 55.9 65.8 88.9 43.9 30.6 26.7 10.1 ,8 Plaestic materials 3.3 6.5 7.9 10.9 16.2 12.4 16.8 G MaIut.ctuedgoodas 46.1 71.2 125.2 183.7 242.2 1 2C4 6, Textile y.rn fabricas S i 42 66 127 7 . 79. (i6 Non-metallic. mineral manufactures 2.1 1.5 6.1 12.5 9.2 5.3 7.3 e, Iron nad Steel lb4.8 2e.7 39.5 56.1 69.3 46.6 57.8 6H Non-ferroua mtals 4.2 9.0 11.2 12.4 16.1 10.6 13.2 684i AItminum 1.7 14.0 6.1 7.0 9.1 6.1 n.a. 6-: Manufacture of metal 3.0 7.1 18.8 26.7 34.3 22.0 30.8 ; ¢MachinoeLy. Transport Equipamnt 69.5 73 171.7 3102 533-0 381.8 7.2 71 Mailcitery (except electrical) 2 3 95. 1.1. 282.9 196 23ET. ;? tlectrical cachinery 19.7 12.6 26.1 47.6 95.9 71.2 77.7 7I eraqsport equipment 11.6 25.2 50.0 121.4 154.3 113.7 135.1 '; M1sct lateous Manufactured Artiolee 5.3 6.8 10.5 17.2 8 24. 1.2.1 Rh Profe-si,onal, sclentific i7ntrumeAnL a7 EV 54. 947 Ntc, ICassified 1.3 0.2 - 0.1 l.4 0.1 o.6 IOiTAt rMPORTS 404.4 463.4 716.4 996.2 1,462.9 1,000.7 1,3C9.3 .............. ..... . ........ ..... ....... ........ . ... ....... ..... ..... ......... .............. a/ Thie reviglont of the first 8-mtnth totals Is not reflected in this ammunt, thich is a total of the above coneponenta Gouarce: B.nk of Korea, Economic Statistics Yearbook; Monthly Statistioal Review NOtE. (-) denotes smeil magnitude Table 3.5 Analysia of Growth and Coodity Caoroitlon of Imports Ainnual Average Jan-Sept. 1969 Rate of over iITC Coaoestion (5) Growth (%) Jan-Sept. 1968 Code Commodity -1964 16s4-ly68 (% 0 Food 6 11 h 25.0 54.s Oh Cereals and cereal preparations N w -7 WX 01io Wheat 9.1 b.3 14.3 na 06 Sugar 0.9 0.8 34. o 66., 1 Bever%geandTobooo 8 18.2 2 Crude tar nedible (excluding fuels) 2 23 Crude rubber 1 m I7 Z 24 Wood, lumber, cloth 4.6 6.3 49.0 30.h 25 Paper and pulp 2.3 1.5 24.0 -2.7 26 Textile fibers (not manufactured) 13.1 6.2 14.3 11.2 2631 Raw cotton 9.2 3.4 7.2 na 27 Crude fertilizer and crude mtwrialt 1.1 1.1 39.0 63dj 28 Metallic ores and scrap 1.0 1.9 60.0 99J1 3 Mineral fuels 7. . 27.075c 33 Petroleum and petroleum producta .I 5.0 4 Animal and vegetable oila nnd fate 1.0 o.6 21.0 18.6 S Chemicale 2-:& "I -7 51 Chemical elementa and components eT 3.2 37.0 2.3 53 Dyeing, tanning and coloring 0.9 0.5 20.0 45.3 51 Medicinal fooda 0.9 0.8 33.0 14.3 56 Fertilizers, manufactured 13.8 2.1 -13.9 -62.2 58 Plastic material. 0.8 1.1 49.0 35.5 6 Manufactured O oode by material 114 16 6 52 21.0 65 Textile yarn CiberT 7.0 51.0 66 Non-metallic mineral 0.5 0.6 44.0 37.7 67 Iron and steel 3.7 4.7 47.0 24.0 68 Non-ferroua metal 1.0 1.1 40.0 24.5 684 Aluminum 0.4 0.6 53.0 na 69 Metal manufactures 0.7 2.3 85.0 4o.o 7 aachle and Tra ortE 17.2 t6 4 65.0 17.1 71 MCley(oldn lecaFIc 9.4 19.3 650 YT 72 Electrical machinersy 4.9 6.6 48.0 9.1 73 Transport equipant 2.9 10.5 90.0 18.8 8 Miscellaneous manufacturee 1 2 65.o 70.4 86 Profe sional instruennteta B 2 57 5C 9 Not classified 0.3 ng -25.4 500.0 Total Iworta 100.0 10D.0 38.0 30.8 Source Calculated by the Mission from Table 3.- Table 3.6 Imports by Sources of Funds and b3r Comodity Stnicture (c.i.f. in million US dollars) Korean Relief Foreign Official External and Total Exchange Aid Loan Other Imports IMports Imports Imports Imports A. Total IMports 1965 463.4 248.3 135.5 31.5 48.1 1966 716.4 401.9 1)3.6 108.4 62.5 1967 996.3 673.5 119.2 167.3 36.2 1968 1,1462.9 964.4 125.7 299.6 73.1 (Jan-Aug) 1968 880.4 566.14 71,3 200.7 42.0 (Jan-Aug) 1969 l,148.1 720.9 77.5 293.3 56.4 B. Consumption Goods 1965 70.4 15.5 30o5 0.4 24.0 1966 82.9 27.5 12.0 1.5 40.8 1967 111.4 89.7 10.8 2.4 8.5 1968 208.3 136.7 35.0 3,3 33.3 (Jan-Aug) 1968 136.4 100.4 23.6 1.6 10.8 (Jan-Aug) 1969 202.0 914.6 29.7 62.7 15.0 C. Raw Materials and Intermediate Goods 1965 319.8 195.9 103.4 2.5 18.1 1966 461.9 295.5 130.9 22.7 13.7 1967 574.6 429.2 99.6 30.3 15.5 1968 721.6 583.9 87.7 33.9 16,1 (Jan-Aug) 1968 413.0 32014 60.6 23.1 9.9 (Jan-Aug) 1969 557s 5 466.8 42.9 35,5 12.4 D. Capital Goods 1965 73.1 37.0 1.6 28.6 5.9 1966 171.7 78.9 6.7 4.2 7.9 1967 310,3 1514.6 8.8 134.7 12.2 1968 533.0 243.9 2.9 262.4 23,8 (Jan-Aug) 1968 336.3 146.6 8.4 168.6 12.6 (Jan-Aug) 1969 388.5 159.14 4.9 195.2 28.9 Sources: Bank of Korea, Economic Statistics Yearbook, 1968, and Monthly Economic Statistics, November 19b9 Note: Consumption goods are SITC Groups 0, 1, 8 and 9 Raw materials and Intermediate goods are SITC Groups 2, 3, 4, 5, & 6 Capital goods are SITC Group 7 c ge 2 Table 3. 7 o _ unds and by Countries (c.i.f. in million U.S. dollars) Korean Total Foreign Exchange Official Aid Extermal Loan Other Imports Imports Inports Imports Imports Fed. Rep. of Germarn 1965 i6.o5 8.69 0.01 7.36 1966 20.25 9.76 - 9.68 0.81 1967 30.95 17.67 - 12.81 0.h8 1968 73.63 30.37 o.64 41.35 1.26 Italy 1965 1.85 1.60 - 0.25 1966 16.08 2.17 -, 13.86 0.06 1967 6.36 3.28 0.01 3.03 0.04 1968 21.57 5.54 3 15.80 0.24 U .K. 1965 1.19 0.85 0,06 0.28 1966 2.21 1.26 0o16 0.50 0.29 1967 5.26 4.38 0.03 o.62 0.23 1968 15.56 1.0o4 - 3.94 0.58 Source: Bank of Korea. Table 3.7 Imports bya?urces of Funds and by Countries (c.i.f. in million U.S. dollars) Koroan Roliof and Total Foreign Exchangc Official Aid External Loan Other Imports Imports Imports Imports Imports U.S.A. 1965 182.29 28.81 120.94 32.53 1966 253.69 57.42 136.25 14.58 45.45 1967 305.16 139.76 109.60 40.88 14.93 1968 452.45 193.48 145.09 73.66 40.22 Japan 1965 166.63 144.69 3.11 18.82 1966 293.79 226.28 3.90 50.54 13.08 1967 443.03 330.99 4.42 90.24 17.38 1968 624.12 480.61 0.44 129.28 13.79 C;-nada 1965 1.64 0.82 0.62 0.20 1966 2.69 1.79 0.22 - o.69 1967 8.39 4.13 2.15 1.79 0.32 1968 12.67 8.87 1.08 o.48 2.24 China (T; iw.n) 1965 10.47 7.23 2.96 0.28 1966 10.83 8.29 2.48 0.04 0.02 1967 27.22 26.09 0.94 0.18 0.02 1968 15.95 15.54 - 0.23 0.18 Fr2nc.i 1965 2.50 0.23 - 2.28 1966 10.91 0.35 - 10.41 0.15 1967 16.72 1.42 - 15.26 0.04 1968 13.74 1.30 - 12.37 0.07 (Continued on next page) RIeeipts and Parmunts on Goods and Services (In million US d"ol1rs A. Receipts 1964 1965 1966 1967 1968 1. Exports, f.o.b. 119.1 175.1 250.3 334.7 486.2 2. Non-monetary gold 0.9 0.5 0.1 - 0.1 3. Freight and insurance on merchandise 2.5 4.5 9.9 10.7 17.3 4. Other transportation 2.9 3.4 3.9 6.4 10.3 5. Travel 2.8 7.7 16.2 16.3 16.9 6. Invested income 3.8 3.7 5.6 10.1 12.4 7. Government n.i.e., 75.7 88.1 136.5 208.9 257.4 of which (7.1 Military service) (63.7) (74.0) (100.9) (162.6) (216.6) 8. Other services 3.3 6.8 32.2 55.8 79.7 Total 211.0 289.8 454.7 642.9 880.3 B. Payments 1. Imports, f.o.b. 364.9 415.9 679.9 908.9 1,322.0 2. Non-monetary gold - - - - - 3. Freight and insurance on merchandise 30.1 32.4 46.8 63.0 90.7 4. Other transportation 8.3 10.7 10.6 8.6 13.9 5. Travel 2.4 1.7 3.2 8.4 10.5 6. Investment income 1.7 2.3 5.0 11.9 17.8 7. Government n.i.e. 13.6 12.8 13.7 19.2 24.5 8. Other services 11.0 8.2 18.5 40.0 67.3 Total 432.0 484.0 777.7 1,060.0 1546.7 C. Balance -221.0 -194.2 -323.0 -417.1 -666.4 Balance, excl. investment income and payments -223.1 -195.6 -323.6 -415.3 -661.0 Source: INF, Balance of Payments Yearbook Table 3-9 Balance of Pa ents 1964-1969 (In million us ollars) Jai, Sept_ 1964 1965 1966 1967 1968 A. Gloods and Services (- I + II) -221.0 -194.2 -323.0 -417. - _6.5 1. Trade Balance -244.9 -240.3 -429.5 -574.2 -835.7 -609.7 -721.0 1. Export, f.o.b. 119.1 175.1 250.3 334.7 486.2 335.5 460.7 2. Tmports, f.o.b. -364.9 -415.9 -679.9 -908.9 -1,322.0 -945.2 -1,181.7 1. Non-monetary gold 0.9 0.5 0.1 - - - _ JI. Net. Services 23.9 46.1 106.5 157.1 169.3 113.8 144.5 4. Freight, transportation, and merchandise insurance - 33.0 - 35.2 - 43.6 - 54.5 - 77.0 N. Travel O.4 6.0 13.0 7.9 6.4 fi. Investment income 2.1 1.4 0.6 - 1.8 - 5.4 7. Government, n.i.e., of which: 62.1 75.3 122.8 189.7 232.9 7.1 Military ( 63.7) ( 74.0) (100.9) (162.6) (216.6) (153.8) (190.01 8. Other services - 7.7 - 1.4 13.7 15.8 12.4 P. Iransfer Payments 194.9 203.3 219.6 225.2 226. 1414.4 630 9. Private 53.9 68.7 97.6 90.7 105.5 66.9 87.6 1U. Central Government, of which: 141.0 134.6 122.0 134.5 120.6 77.5 75.4 10.1 (US Government grants) (139.7) (134.8) ( 94.2) ( 95-8) ( 37.9) ( (75.1)) ((74.71 10.2 (Japanese Government grants) ( - ) ( - ) ( 29.3) ( 37.4) ( 30.0) ( n.s. ) ( n.a. Balance on Current Account(A+B) - 26.1 9.1 -103.4 -191.9 -440.3 -351.5 -413.5 C. Capital Movements 23.6 - 2.e 21.4 291.9 440.6 _14.6 _74.8 l1. Direct investment - 0.8 0.3 13.4 11.3 19.9 15.5 11.6 12. Other private long term, net, 12.5 39.4 163.8 2;e4.6 381.9 of which, 1?.1 (From US Government) ( 3-8) ( 1.2) ( 35-8) ( 60.0) ( 32.0) 1 .2 (From German Government) ( 0.8) ( 1-3) ( 2-1) ( 3-0) ( n.a.) 1 .1 (From Japanese Government) ( - ) ( - ) ( -) (18.4) (n.a.) 12.4L (From UK Government) ( - ) ( - ) ( - ) ( 0.9) ( n.a.) 12.5 (From private lenders) ( 7.9) ( 36.9) (125.9) (142.3) (209.5) 11. Other private short term, net a - 4.4 - 23.- 6.4 42.7 11.2 14.4 31.3 14. Central and local Government loans, net 16.6 - 18.8 40.8 16.3 3i.4 of whichs 14.1 (From US Government) 1.8 - 17.6 17.4 14.8 14.2 (IDA) 3.9 -- - 7.3 14.1 (From Japanese Government) - - 14.1 7.0 3.9 14.4 (European O.E.C.D. Governments) 3.4 2.0 2.3 1.0 _ 0.2 14.5 US Government holding of Korean currency - 0.9 - 11.3 3.2 - 7.1 0.3 1.6 - 14.6 Trade credits on imports of US surplus agricultural commodities 2.1 - 1.9 4.5 - 2.9 5.9 14.7 Others 6.3 _ 7.6 - 0.9 0.9 o 0.6 15. Capital subscriptions - 0.3 - - 3.0 - 3.0 - 5.8 n. Monetary sectors (- - increase) 3.6 - 4.9 -117.6 -111.1 - 4.4 2s.0 - 54.7 16. Commercial banks assets, net 1.3 - 1.1 - 0.5 - 53-9 128.6 17. Central Institutions assets, net 2.3 - 3.8 -117.1 - 57.2 -133.0 E. Errors and Omissions - 1.1 - 2.0 - 0.4 11.1 4.1 - 12.1 - 6.6 a/ Trade credits of maturity of more than 12 months but less than 3 yearn are included here instead of in Item 12 as separate information is not available. Source: TMF, Balance of Payments Yearbook, Vols. 19, 20, 21. Table 4.1 KOREA - EXT1iNAI. PUBLIC DEBT OUTSTANDING AS OF DECEMBER 31, 1968 /1 TNCLUDING MAJOR REPORTED ADDITIONS JANUARY - JUNE 1969 Debt Repayable in Foreign Currency (In thousands of U.S. dollars) Debt outstanding Major 3o uri'c e December 31, 1968 MAjor vo Disbursed Including Reported Additions only undisbursed Januay - June 1969 TOTAJL EXTERNAL. PUBLIC DEBT /2 976,629 1,603,922 276,898 Privaitely held debt /2 1 08L,321 136,371 Suppliers /2 647,999 11O37.1& 107,445 Austria - 23,555 Be]gium - - 1,552 Ir3nce /2 19,944 48,532 50,933 Ge m). ny 72 63,2L9 131,693 - Iti. y 16,612 65,798 - Japan 230,682 333,884 4,640 Net le rlands - 2,427 - Norway 4,883 4,883 - Sweden 3,908 21,38- Switzerland 7,931 11,587 - United Kingdom 14,301 38,265 2,039 United sctates 228,817 291,941 47,304 Others 57,672 60,281 977 Financial institutions /2 17,283 47,167 28,926 Germany /2 - - 926 United Kingdom - 24,141 - IJnited States 17,283 23,026 10,000 Others - - 18,000 Loans from international organizations 22,305 40,293 86,800 IBRD - 5,000 65,000 IDA 21,197 28,493 14,800 Asian Development Bank 1,108 6,800 7,000 Loans from governments /2 289,042 479,308 53,727 Canada - 927 - Germany /2 28,980 32,788 Japan 5h,469 92,875 7,L479 United Kingdom 1,123 1,200 - United States 204,470 351,520 46,248 /1 Debt with an original or extended maturity of over one year. 72 Includes debts repayable in French francs which are converted at the exchange rate as devalued in August, 1969 and/or Deutsche marks as revalued in October, 1969. Statistical Services Division Economics Department JanUary 13, 1970 Table 4.2 KOREA - ESTIMATED FUTURE SERVICE PAYMENTS ON EXTERNAL PUBLIC DEBT OUTTSTANDING INCLUDING UNDISBURSED AS OF DECEMBER 31, 1968 WITH MAJOR REPORTED ADDITIONS JANUARY - JUNE 1969 Debt Repayable in Foreign Currency (In thousands of U.S. dollars) Page I DEBT OU7ST PAYKENTS DURING PERIOD (BEGIN OF PERIOD) INCLUDING AMORTI- YEAR UNDISBURSED ZATION INTEREST TOTAL TOTAL EXTERNAL PUBLIC DEBT 1969 1,551,552 137,867 400,733 178,599 1970 1,679,739 207,916 65,277 273,193 1971 1,071,823 222,759 65,794 288,553 1972 1,2h9,064 146,382 51,A87 197,869 1973 1,102,682 130,153 42,094 172,247 1974 972,228 112,176 35,575 147,750 1975 860,352 914,030 30,217 124,246 1976 766,323 914,577 26,976 121,553 1977 671,7h5 71,413 22j,492 93,906 1978 600,332 62,165 19,033 81,198 1979 538,167 51,929 16,503 68,432 1980 486,238 37,981 14,321 52,302 1981 448,257 35,325 12,743 48,068 1982 412,932 27,255 11,375 38,630 1983 385,677 2L,LO8 10,420 344,868 Notbe: Includes service on all debt listed in Table 1 pxrepared January 13, 1970, with the exception of the following, for which repayment terms are not available: Total $52 370,000 Supplie rs 1.272,000 Loans from governments: Germany 4,098,000 Japan 7,OO,0OOO Major Reported Additions: Total $108414,000 Suppliers 844,000 Loans from governments: United States 10,000,000 KOREA - ESTIMATED FUTUR.E SERVICE PAYMENTS ON EXTERNAL PUBLIC DEBT OUP'iTANDING INCLUDING3 UNDISBU;SETD AS OF DECEMBER 31, 1968 WiTH MAJOR REPORTED ADDITIONS JANUARY - JUNE 1969 Debt Repayable in Foreign Currency (In thousands of U.S. dollars) Page 2 DEBT OUTST PAYMENTS DURING PERIOD (BEGIN OF PERIOD) INCLUDING AMORTI- YEAR UNDISBURSED ZATION INTEREST TOTAL PRIVATELY HELD DEBT 1969 1,043,049 128,472 34,236 162,707 1970 1,050,104 197,139 54,682 251,821 1971 852,966 192,653 53,643 246,296 1972 660,314 139,088 39,631 178,719 1973 521,225 119,703 29,396 149,139 1974 401,482 99,365 22,567 121,932 1975 302,116 77,911 16,916 94,826 1976 224,205 73,250 12,342 85,591 1977 150,955 49,295 8,206 57,500 1978 101,660 39,734 5,4142 45,145 1979 61,927 26,057 3,141 29,198 1980 35,870 12,065 1,782 13,847 1981 23,805 9,716 1,153 10,869 1982 14,089 3,844 701 14,545 1983 10,245 3,619 502 4,121 SUPPLERS 1969 995,882 122,791 32,453 155,243 1970 979,692 183,263 50,122 233,385 1971 796,429 177,256 49,962 227,218 1972 619,174 126,333 36,968 163,301 1973 492,840 108,620 27,649 136,269 1974 3814,219 90,663 21,566 112,229 1975 293,556 75,705 16,1481 92,185 1976 217,851 71 ,434 12,017 83,451 1977 146,416 47,479 7,981 55,460 1978 98,937 37,918 5,287 43,205 1979 61,019 25,149 3,116 28,265 1980 35,870 12,065 1,782 13,8h7 1981 23,805 9,716 1,153 10,869 1982 14,089 3,8844 701 4,545 1983 10,245 3,619 502 4,121 KOREA - ESTIMAlTED FUTURE SERVICE PAYMTS ON EXTERNAL PUBLIC DEBT OUTSTANDING INCLIlDING UNDISBURSED AS OF DECEBER 31, 1968 WITH MAJOR REPORTED ADDITIONS JANUARY - JuNE 1969 Debt Repayable in Foreign Currency (In thiousands of US1. dollars) Page 3 DEBT OUTST (BEGIN OF PERIOD) PAYMENTS DURING PERIOD INCLUL NOIG AMORTI- YEAR UNDISBURSEI ZATION INTEREST TOTAL SUPPLIERS AUSTRIA 1969 23,555 3,212 343 3,555 1970 20,303 3,212 1,256 4,468 1971 17,131 1,903 1,639 3,542 1972 15,228 1,903 959 2,862 1973 13,325 1,903 835 2,738 1974 11,h22 1,903 704 2,607 1975 9,519 1,903 588 2,491 1976 7,616 1,903 464 2,367 1977 5,713 1,903 340 2,243 1978 3,810 1,903 217 2,120 1979 1,907 1,907 93 2,000 BEIIIUM 1969 5 5 * 1970 1.552 ' 45 45 1971 1D552 388 89 4?r 1972 1.164 388 6? 455 1973 776 388 45 433 j9T4 388 388 22 410 KOREA - ESTIMATED FUTURE SERVICE PAYMENTS ON EXTERNAL PUBLIC DEBT OUTSTANDING INCLUDING UNDISBURSED AS OF DECEMBER 31, 1968 WITH MAJOR REPORTED ADDITIONS JANUARY - JUNE 1969 Debt Repayable in Foreign Currency (In thousands of U.S. dollars) Page 4 DENT OUTST CBEGIN OF PERIOD) PAYMENTS DURING PERIOD INCLUDING AMORTZ! YEAR UNDISSURSED ZATION INTEREST TOTAL PRIVATELYNHELD DEgT SUPPLIERS FRANCE 1969 46x532 2J230 1.005 3.235 10ro 9r.235 3 058 1.576 4.636 1tr7 94.*1T7 4,769 2.253 V.022 1972 89,408 10#612 5.I02 15,715 1973 780796 11a043 4m491 15#534 I9?4 67.T52 10*441 3.853 14.294 1975 57, 311 10.441 3P237 13.678 1976 46,870 10.441 2.621 13,062 I977 36.429 10.441 2,00!15 12446 1976 25J988 8a74? 1j389 10.136 1979 17.240 7,054 923 7.977 1980 10J 187 5.093 535 5,628 1961 5.093 5.093 229 50322 GERMANY 1969 13O.156 14,503 4,696 19,199 1t9o 11S5653 1SJrSO 6.094 21,844 1971 99.903 15.871 5R55 21,726 19T2 84,031 14.883 4P900 19.783 19?3 69.146 14.082 3.964 18.066 1974 55,066 12.291 3.161 15.452 19TS 4277Y4 10,044 2J442 12,486 1976 320730 9932? 1.642 11.169 19?7 23.404 80176 1.296 9.471 19re 15,228 9J193 781 90974 j979 6.035 4,256 275 4,532 1960 17r79 1,779 53 1,832 KOREA - ESTIMiATED FUTURE SERVICE PAYMENTS ON EXTERNAL PUBLIC DEBT OIJTSTANDING INCLIIDING UNDISBURSED AS OF DECEMBER 31, 1968 WITH MAJOR REPORTED ADDITIONS JANUARY - JUNE 1969 Debt Repayable in Foreign Currency (In thousands of U.S. dollars) Page 5 DEBT OUTST (BEGIN OF PERIOD) PAYMENTS DURING PERIOD INCLUDING AMORT! YEAR UNDISBURSED ZATIO INTEREST TOTAL PRIVATELY-HELO DEOT SUPPLIERS ITALY 1969 65.798 3#758 2a303 6,062 19TO 62.039 7#310 3.689 11.000 191 5 4.729 9.383 3.231 12*614 1972 45.346 8,861 2.658 11,519 19?3 36.486 891ll 2#124 10.235 1974 28.374 7,332 1.626 6,957 i9?s 21.O43 6.419 1.193 - r6t2 1976 14.624 5.688 798 6D0485 1977 8.936 4,840 465 5,306 i97o 4.096 2.792 204 2*996 i979 19304 1,304 39 1.*43 JAPAN 1969 317.000 58.031 13.503 7T1534 1970 262.?65 45S5o5 13.713 59.21T 1971 21T7260 43.985 11.254 55,239 1972 173p275 37.662 9.513 *7,175 19t3 135.613 33P816 7.388 41,204 j974 lol.797 30o.36 5,490 356S51 19rf 71.43? 26.166 3.790 29*956 j9?6 45S271 26.1Q4 2.360 26,554 1977 19,077 9,127 967 10.094 1978 9,950 5.414 537 5,951 1979 4P536 29826 232 3005? 1960 1.710 1.140 75 1,215 1981 sro 0ro 15 585 KOREA - ESTIMATED FUTURE SERVICE PAYMENTS ON EXTERNAL PUBLIC DEBT OUTSTANDING INCLUDING UNDISBURSED AS OF DECEMBER 31, 1968 wrrH MAJOR REPORTED ADDITIONS JANUARY - JUNE 1969 Debt Repayable in Foreign Currency (In thousands of U.S. dollars) Page 6 OEeT OUTST (DEOIN OF PERXOD) PAYNENY§ OURXMX PERROO YNCLUDXNG AMORTI YEAR UNDSOURXSED ?A7ON VMYEE7 TOYAL PR VA?LVOQ DELD V DE SUPPLIERS NEMHERLANDS t0@@ to427 SF~~~~&3 69 SO, IDVO 20S 47 a0Q G59 a072S ID960 PO7 OT O glov9 0D2t N6i;4 19F13 320 Bo? 9R SOG NOIUAY s@X No0o3 2~~~~4DII2 231 9,o943 aeVo tP7ra tes s4~M 12 ODD AsyS to§Y ~~~ ~~79a 9G GOO 1072 aOjG 7B Y2 96 GOO go7b VD6 906 aa S OO S1HEDEN aa 90D302 9DsG DDDO ( 3D05e avv( 20DO22 DD!32~ gDgav 0e0OO ON^ S F0 SIQ iDD a$ 'og! 40DD6 gM7 a 9DD56 3D4 O8 a 5?sOD gol aDO4 FD 06@ 2DPGO IOD gO 22 aD071 4DO00 RO040 99G 2,0HO aloFo 2Doo0 2DO40 GlX 2DaRO ble 2: KOREA - ESTIMATED IFUTURE SERVICE PAYMENTS ON EXTERNAL PUBLIC DEBT OUrSTANDING INCLUDING UNDISBURSED AS OF DECEM(BER 31, 1968 WITH MAJOR REPOfRTED ADDITIONS JANUARY - JUNE 1969 Debt Repayable in Foreign Currency (In..thousands of U.S. dollars) Page 7 (BEGIN OF PERIOD) PAYMENTS DURING PERIOD INCLlIOING AMORTIN YEAR UNDISBURSED ZATIIN INTEREST TOTAL PRIVATELYwHELD DOBT SUPPLIERS SWITZERLAND 1969 11.S587 1525 461 2.000 19?o 10m062 1.525 392 1.t1? 1971 8538 1.525 296 1,622 1972 r7013 2.044 292 12336 1973 4.969 1a183 291 t1474 1974 3.766 1163 210 1.30l 1975 2.623 1D163 145 SP308 1976 1.460 1,164 12 1.256 197? 296 296 9 505 UNITED KIRGDCI j969 35,663 3.256 921 4.179 1970 34.644 9.905 1.r6o 111665 1971 240?39 53986 1#335 6.733 1972 1 9340 5#216 1.sO5 $te06 1973 14.122 4.980 763 SOT.4 1974 9,142 4.190 4AS 4.6t7 1975 4#952 1*99? 259 2#256 197r 2.95S 10629 142 1.T72 i977 1,326 1,326 ST 1.353 KOPREA - ESTIMA.TED FUTURE SERVICE PAYMENTS ON EXTERNAL PUBLIC DEBT OiUT8,TANDING INCLUDING UNDISBURSED AS OF DECEMBER 31, 1968 WITH MAJOR REPORTED ADDITIONS JAIYUARY - JUNE 1969 Debt Repayable in Foreign Currency (In thousands of U.S. dollars) Page 8 DEST OUTST (BEGIN Of PERtOD) PAYMENTS DURING PERIOD INCLUDING A4ORTIO YCAR UNDISfURSED ZATLON INTEREST TOYAL PRIVATELY-HELD DEBT SUPPLIRZ UNITED STATES 1969 279.709 2i.9o9 S.#64 27oas 1970 305.064 84.05? 1.8020 1OS0167 loft 221.OOT 62sT40 20,962 $03,722 1972 1360247 23, 128 9,964 33,094 19T3 1150119 23.130 6.7)6 29S646 t9T4 92O009 160,696 5426 32,414 M E75,021 13.000 4,59r 77*oS itrd 62,013 t2*169 50602 1s5o.9 197? 49D624 108663 28131 i),T74 t9r8 38,741 9,0643 1l.10 110,03 tort 29.09? ?*5? 1.554 ,D 13a lg80 2i#52O 3,628 11ti9 4.947 9' 17.692 3,828 908 4,736 1982 13*864 3*619 7o0 4,320 i963 10*245 3,619 502 4*121 OTERS 1949 52.065 $0454 2.635 11.489 19tO 44o388 6,279 2.369 10,668 loft 36.109 6.TII 109S6 0,047 972 29P398 170052 1.616 10,668 13rs 12,346 S.796 396 6,194 1974 6,550 2.274 196 2470 107S 4#276 2,11? 211 2.368 1916 2P099 48? 26 515 l9rr 1s612 468 12 499 l97 lt.25 225 * 223 1979 900 225 a 225 so60 615 225 * 125 1981 450 225 * 225 1962 225 225 a 225 KOREA -E ',TIMLATED F'UTURE SERVICE PAYMENTS ON EXTERNLAL PUBLIC DEB 0''11"TANDING INCLUDING UNDISBURSED AS OF DECEMBER 31, 1968 WITH MAJOR REPORTED ADDITIONS JANUARY - JUNE, 1969 Debt ;tepayable in Foreign Curmency (In thousands of U.S. dollars) Page 9 DE3r uTT (BEGIN OF PERIOD) PAymENTS DURING PERIOD INCLUDING A4ORTI YEAR UNDISBURSED ZATION INTEREST TOTAL PRIVATELY-HELD DEBT FINANCIAL INSTITUTIONS 1969 47.i167 5O861 10783 7,044 1970 70,412 13.876 4,560 1S0D4) 19o1 56.537 15039? 3.681 t19.07 1972 41m140 12.755 2*663 1548S 1973 28*385 11.123 1#74? 12.670 1974 17.263 6.7o2 1.001 9,703 1975 8.560 2.206 435 26041 1976 6.354 1.816 325 2#140 1977 4#539 1.816 225 2#040 1978 2.723 1.816 125 1#940 1979 906 908 25 933 GERKANY 1969 * 20 20 1970 926 309 72 381 1971 6IT 309 46 3g5 1972 309 309 20 328 KOREA - ESTIMATED FUTURE SERVICE PAYMENTS ON EXTERNAL PUBLIC DEBT OI.TSTANDING INCLUDING UNDISBURSED AS OF DECEMBER 31, 1968 WITH MAJOR REPORTED ADDITIONS JANUARY - JUNE 1969 Debt Repayable in Foreign Currency (In thousands of U.S. dollars) Page 10 ODE0- OUf Y COE2N or PERIOD) PAYMEMYS OU2XMG PtP20O g NCLUD XNO P"0wT X YEAR UNDISIURZED Za7XON m EQV57 TOYaL PREVATELVYHELD ODEV FINANCIAL INSTITUTIONS UNITED KINGDON logo 2ao 141 0 So ao (3(OsD9 pDVO 22D3a0 2D0of aOa6R soPO0 agva 20oO0 2D099 aOo90 DOW? ta (DV.1D 2ag ID I5 v98 IqD a 0 9I9M 91fiD f5 RDasa V73 soDG21 1070 li iP i7 2D5317 SVG DgD1e OF13 Gop560 2D206 1) &oD3 2,9FG O 9354 to(G9^ 325 RD90c 29F7 o0539 IPGaiO 225 2D040 atto 2DF23 apolo 1D9 9D960 IVFD 9go goo 25 3 UNITED STATES 1604 29DO(2 sDGGG 9D20 bo9RO 100o 29DIGO 0,D11i 2DO92 a0O690 1197a 21 DC04* 0D509 gov92 'DD ,ve7 12D5335 D50 3 8ao Oo(93 19?2F ODDO3 GDgi$6 U 3 S D0 I' at)F4 2D41? 204tW JG2 a 0 591 KOREA - FMTIMATED FUrURE SERVICE PAYMENTS ON EXTERNAIL PUBLIC DEBT 07PSTANDING INCLUDING UNDISBTIRSED AS OF DECEMBER 31, 1968 WITH MAJOR REPORTED ADDITIONS JANUARY - JUNE 1969 Debt Repayable in Foreign Currency (In thousands of U.S. dollars) Page 11 DEBT OUTST COEGIN OF PERIOD) PAYMENTS DURING PERIOD INCLUDING AM0RTIO yEAR UNDISBURSED ZATION INTEREST TOTAL PRIVATELYfMELD DEBT FINANCIkL INSTITUTIONS OrERS 1969 U 1970 18.000 3,24; 1.244 4,488 191r 14,756 3*689 1#127 4.616 1972 11,067 3.689 632 4.520 19T3 7,378 3.689 534 4*225 1974 3.689 3.659 241 3#930 IDANS F'ROM INTERNATIONAL ORGANIZATIONS 1969 40?293 a 382 382 190tO 12?.093 35 1,5T9 1,614 19T1 12?#058 482 2.642 3.124 19?2 126.5T6 1.933 3.648 5.581 i9?3 124.643 3.448 4#405 7.853 1974 121.195 3.692 4.660 6.753 1i95 11T7302 3.979 5.112 90091 1976 113.323 4.925 4.992 9.917 197? 108,398 5.119 40711 9,631 1976 103.279 5S021 4.421 9.442 i979 98.25? 6 605 4. 21 10. 106 1980 92.192 6.9141 3.740 90861 1901 660052 5.759 3.358 9,117 1982 80.293 3.484 3.009 6,493 1963 768 09 3.013 2#861 5.030 KORFA - ESTIMATED FUTURE SERVICE PAYMENTS ON EXTERNAL PUBLIC DEBT OUTSTANDING INCLUDING UNDISBURSED AS OF DECEMBER 31, 1968 WTTH MAJOR REPORTED ADDITIONS JANUARY - JUNE 1969 Debt Repayable in Foreign Currency (In thousands of U.S. dollars) Page 12 DEPT OUTST (BEGIN OF PERIOD) PAYMENTS DURING PERIOD INCLUDING A4ORT:I YEAR UNDISBURSED ZATION INTEREST TOTAL IOANS FROM INTERIATIONAL ORGANIZATIONS IBRD 1969 5.0000 208 208 1970 70r000 35 1&040 1,075 1-971 69.965 482 1*866 2.348 1972 69#483 17*46 2,646 4#392 19?3 67.T37 2P279 3,261 5.560 j97* 65.456 2,304 3#655 5#959 1975 63.154 2,334 3.955 6,289 1976 60*820 3.219 3,901 7,120 lorr 57P601 3P294 3P691 6#985 1978 54.307 3,389 3.475 6P664 1979 50.918 3,494 3.253 6*.47 1960 47.424 3,0529 3.025 6,554 1981 43#895 3,102 2.799 5.901 1962 40.793 2P3S4 2.609 40973 1983 38,429 1.562 2.471 4,033 IDA 1969 28o493 ' 1T 174 19TO 43,293 ' 227 227 a9t1 43,293 * 255 255 1972 43,293 274 274 1973 43.293 776 291 It.06 197* 42.517 778 304 10080 1975 *1,740 776 312 1,068 19T6 4096*4 776 300 1.082 19r7 4n0188 831 300 1*131 t1r9 39. 357 568 294 862 1?97 380788 398 290 068 t900 38.390 398 287 665 1981 37.993 398 264 662 1962 37,s95 398 281 6r9 1963 37.197 678 276 955 KIREA - ESTIMATED FUTURE SERVICE PAYME}rS ON EXTERNAL PUBLIC DEBT OUTSTANDlING INCLUDING UNDISBURSED AS OF DECEMER 31, 1968 WITH MAJOR REPORTED ADDITIONS JANUARY - JUNE 1969 Debt Repayable in Foreign Currency (In thousands of U.S. dollars) Page 13 DE;BT 00TST (BEGIN OF PERIOD) PAYMENTS DURING PERIOD INCLUDING AMORTI. YEAR UNDISBURSEO ZATION INTEREST TOTAL W4ARS ROM INrERNATIONAL OnGANIZATIONS ASIAN DEVELOPMENT BANX 1909 6.800 ' a 1970 13.600 ' 312 312 J971 13.800 * 520 520 1072 13#800 187 728 915 19?3 13,613 393 833 1#226 19T4 13#220 812 902 10714 1975 129408 869 .845 1.714 lor 110539 930 785 1,715 1977 10'1e09 994 721 1,715 1978 9.615 1.064 652 1#Ti6 OTg9 86551 2.-1?3 s5 2.751 1060 60!3P8 2.214 426 2P642 1981 4a164 2.259 275 2#534 1982 1,905 722 1LI 041 1983 10183 7r3 68 4_ t LOANS FROM AJVERNMENTS 1969 468P210 9,395 6#115 15st.O tO70 502,542 10#742 9.016 19.75B j9Tr 91.799 29P625 9.509 3991l4 1972 462.st75 5.361 8.209 13*570 1973 456,814 6.962 8.292 15.254 ,9r4 449.851 8.918 80146 17066 1 s5 *40*933 12,139 80.189 20.320 1976 428,794 16.*n2 9s643 26.045 197T 412.392 16,999 9*575 26,574 1978 395.393 370410 9.201 26,611 1979 377.983 19,80T 9.241 29,040 LOGO 358pi75 19P775 80,80 28,575 1961 338, 400 19,050 8.233 280083 t982 31I $550 19,927 r.665 27,592 1963 298#623 17,816 7.101 24.91? KOREA - ESTIMATED FUTURE SERVICE PAYMENTS ON EXTERNAL PUBLIC DEBT OUTISTANDING INCLUDING UNDISBURSED AS OF DECE1-BER 31, 1968 WITH MAJOR REPORTED ADDITIONS JANUARY - JUNE 1969 Debt Repayable in Fcrreign Currency (In thousands of U.S. dollars) Page 14 DEBT OUTST (BEGIN OF PERIOD) PAYMENTS DURING PERIOD INCLUDING AmORTI! yEAR UNDISqURSED ZATION INTEREST TDTAL LOANS FROM GOVERNMENTS CANADA 1909 925 * 2 2 19o0 92S - 12 12 t97t 925 U 21 21 1972 925 *28 2 1973 925 u 28 28 1974 925 20 28 46 1975 905 40 2? 6? 19T6 865 40 26 66 197? 824 40 24 65 1978 784 40 23 63 j979 744 40 22 62 1960 704 40 21 61 l98t 664 4* 20 60 1982 623 40 la 59 1983 S83 40 lr 5T GE!MANY 1969 286690 1,298 953 2,251 19to 27*392 1,298 940 2,238 197t 26.094 1,9o4 889 2,793 1972 24.190 1,904 822 2,726 19T3 22.287 1,9pn4 755 2,659 19T4 2".383 1A9n4 689 2,593 97rs 15T479 1,904 622 2.526 j976 16s575 1, 904 555 2#459 1977 14,672 1,9n4 489 2,392 1978 12,768 1.904 422 2,326 1979 10.864 1.904 355 2,259 1960 8.960 l1904 289 2,192 1981 I 056 ip9o4 222 2*126 1982 5.1 53 10904 155 2,059 1963 3.249 1,P262 95 1,35? KOREA - ESTIMATED FUTURE SERVICE PAYMENTS ON EXTERNAL PUBLIC DEBT (M1TV;'I'ANDING INCLUDING UNDISBURSED AS OF DECEMBER 31, 1968 WITH MAJOR REPORTED ADDITIONS JANUARY - JUNE 1969 Debt Repayz;ble in Foreign Currency (In thousands of U.S. dollars) Page 15 DE8T OUTST (BEGIN OF PERIOD) PAYmENTS DURING PERIOD INCLUDING AzUORTI YEAR UND!SBURSED ZATION INTEREST TOTAL LOANS RROM GOVERNMENTS JAPAN 1969 8.r875 20 2.041 2#061 1970 939334 39 2,649 2,669 1971 93P295 39 2*863 2.902 1972 93.256 39 39076 3.115 1973 93P216 896 3.249 4,145 j974 92,320 3.69? 3.200 6.o69 1975 88P623 6.091 3.034 9.125 19T6 82.532 6.513 2.819 9.333 9T7 7 60 19 6.548 2.591 9.140 1978 69,470 6.701 2*362 9,064 1979 62.769 7.696 2.128 9.824 1980 5.072 7,9696 1858 9e555 1981 47.376 7.697 1.589 9,286 1982 39P676 7.699 1.319 9#0j9 1963 31v9T9 6.153 1.050 7#203 UNITED KINGDOM 1969 1,200 57 60 137 1970 lpt43 114 78 192 1971 1O329 114 70 184 1972 914 114 62 176 1973 800 114 54 168 1974 686 114 46 160 1975 51t 114 38 152 1976 457 114 30 144 197? 343 114 22 136 1978 229 114 14 128 1979 114 114 6 120 KOREA - ESTIMATED FUTURE SERVICE PAYMENTS ON EXTERNAL PUBLIC DEBT OUTSTANDING INCLUDING UNDISBURSED AS OF DECEMBER 31, 1968 WITH MAJORl REPORTED ADDITIONS JANUARY - JUNE 1969 Debt Repayable in Foreign Currency (In thousands of U.S. dollars) Page 16 DEST OUTST (BEGIN OF PERIOD) PAYMENTS DURING PERIOD INCLUDING AMORT2' YEAR UNDISPURSEO ZATION INTEREST TOTAL LOANS FROM GOVERNMENTS UNITED STATES 1969 351,520 8,020 3,039 11.059 1970 379.748 9,291 5,f33? 14,628 1971 370.457 27#567 s,667 33,234 1972 342,889 33to4 4*221 7r525 1973 339.586 4,048 4.206 8O254 19?4 335,538 3,183 4,185 r,369 i975 332#355 3.990 4,469 8,456 1976 328*365 7.830 6.212 14,043 i977 320.535 8,392 6.449 14,841 1978 312,142 8.651 6#379 15,030 1979 303.492 10.053 6.730 16.782 1960 293.439 10.135 6.632 16.767 19s1 283.304 l0.208 6.403 16, 611 1982 273,096 10,284 6.171 16.455 1963 262P812 10O361 5.936 16,299 Statistical Services Division Economics Department Jarnuary 13, 1970 Public Revenue and Expenditures (In billion won) 1965 (actual) i9;,6 (actual) 1967 (actual) Govern- Consoli- Govern- Conscli- Govern- Consoli- Central ment Local dated Central ment Local dated Central ment Local dated Govern- Enter- Govern- Public G-overn- Enter- Govern- Public Govern- Enter- Govern- Public ment prises ment Sector sent prises ment Sector ment priasa ment Sec-.or I. Current Revenue 6 r.7 17.2 91.4 101.9 9.0 23 7 137.6 153.1 9.7 27.2 190.0 Tax Revenue 58s. - 11.2 69.2 94.4 - 16.0 110.h 138.0 - 1l.1 152.1 (Direct and indirecl) '51.1) _ (11.2) (65.6) (86.9) _ 16.0 (102.8) (128.0) - (14.1) (12.1) (Monopoly Profits)- ( 3.6) - - (3.6) (7.5) - - (7.5) (10.0) - - (O.C) Other Incoe 7.5 8.7 6.0 22.2 10.5 9.0 7.8 27.3 15.1 9.7 13.1 37.9 II. Current Expenditure 51. _ 26.5 80.8 76.7 - :Z 112.4 93.9 - 49.o 3.12.9 Public 0on05optiol 46.1 - 25.4 71.5 65.1 - 34.0 99.1 77.6 - 46.7 12L.3 (Wages and saalries) (34.1) ( - ) (17.2) (51.3) (46-3) - (23.7) (70.0) (55-0) - (32-3) (87-3) (Gooda and aem ices) (12.0) ( - ) ( 8.2) (20.2) (18.8) - (10.3) (29.1) (22.6) - (14-4) (37.0) Interest pqWmts 0.7 _ 0.0 0.7 1.0 - 0.1 1.1 1.1 - 0.1 1.2 xtra-vayte trafers 7.5 _ 1.1 8.6 10.6 - 1.6 12.2 15.2 - 2.2 17.4 III. Intra-SYvtm Transfers -16.1 - 16.1 - -26.1 - 26.1 - -42.9 - 429- IV. Savings en Current Accolnt Z_L;. 8.7 6.8 10.6 2.1 9.0 14.1 2 5 .2 16. 3 97 21.1 47.1 V. Co unt Funds 32.9 _ _ 32.9 35.5 - - 35.5 34. - 341 VI. Utili ation of o - 1-4 -0.1 -0.1 -1.6 -1.2 10.9 1.2 10.9 -1. 3 12.0 1.4 17.1 D estic - 1.4 -0.1 -0.1 -1.6 -1.3 5.4 1.2 5.3 -1.2 11.6 1.4 u1.8 Foreign - - - - 0.1 5.5 - 5.6 -0.1 5.1 - 5.3 VII. Other Capital Resources - S.6 6.2 -1.0 -o.4 7.2 1.9 i:5 3-6 J:8 -2.2 -6.8 -3.2 Loan repayment received 0.1 0.4 - 0.5 0.8 0.2 0.1 1.1 6.4 0.1 0.3 6.8 Depreciation reserves - 2.5 - 2.5 - 3.0 - 3.0 - 4.0 - 4.0 Use of Cash balances - 8.3 2.2 -o.6 -6.7 1.8 -3.9 -6.7 -8.8 -4.7 -10.9 -7.6 -23.2 Ot.her capital transfers 2.6 1.1 -0.4 3.3 4.6 2.6 1.1 8.3 k.1 1.6 0.5 9.2 VIII. IIntra-8stem CaPital Transfers _ 6,4 04 6.0 - -- -1" - _ I. Ytra-Saten Capital Transfers 0.8 - 0.7 1.5 4.7 - 0.8 5.1 0.1 1.1 6.3 X. Investments 13.e 15.2 10.9 39.9 30.6 21.8 17.2 69.6 39.1 24.3 25.4 88.8 Gross capital formation 5.4 15.2 10.6 31.2 10.5 21.8 17.0 49.3 13.2 24.3 25.4 62.0 (Fixed capital formation) (5.5) ( 9.7) (10.6) (25-8) (10.5) (18.6) (17.0) (46.1) (13.2) (22.6) (24.5) (60-3) (Inventories) ( - ) ( 5.5) ( ) ( 55) - ( 3.2) - (3.2) - (1.7) - (1-7) Subscriptions 3.7 - 0.0 3.7 6.o - - 6.0 5.8 - 0.1 5.9 Loans 4.3 - 0.3 4.6 14.1 _ 0.2 14.3 19.7 - 0.8 20.5 Subscriptions & loans abroad 0.1 - - CA - - - 0.4. - 0. 2' iionopoly proXits include only portions of surplus in monopoly whidc have been transferred to the general account; the remaining portion is included in enterprise revenues. Page 2 Table S.1 Peblia Reveu and ditur (In billion VQn) 1968 (actual) 1969(Second Supplementary Rudget) Govern- Conseli- oavern- Cons Central ment Local dated Central mont Local dated Govern- Snter- Govern- Pxblic Govern- Enter- Glovep- Publi c ment prisoe mont Sector ment prisee .7ent7 Sector I. Current Revenue 229.6 25 30.1 284.9 309.9 1,58 ,7 * 3j30 Tax Revenue 209.2 - 19.5 225.7 284.6 - 21.2 305.8 (Direct and indireoQ) (192.8) - (19.5) (212.3) (260.3) - (21.2) (281.5) (Monopoly Profits)' ( 16.4) - - ( 16.4) ( 24.3) - - ( 24.3) Other Income 20.4 25.2 10.6 31.0 25.3 15.8 16.1 57.2 n. Current Expenditure 124.6 - 66.o 190.6 161.6 - 78.9 2140.5 Public consumption 102.5 - 61.7 164.2 130.9 - 72.2 203.1 (Wages and salaries) ( 71.7) - (41.7) 113.4 ( 89.4) - (52.2) (141.6) (Goods and services) ( 30.8) - (20.0) 50.8 ( 41.5) - (20.0) ( 61.5) Interest payments 1.7 - 0.1 1.8 3.1 - 0.2 3.3 Extra-syatsn transfers 20.4 - 4.2 24.6 27.6 - 6.5 14l.1 III. Intra-Systam Transfers -60.1 - 60.1 - -81.6 - 81 .6/ - IV. Savings on Current Account 44 9 25.2 24.2 94.3 66.7 1-5 140.oC/ 12?.S/ V. Counterpart Funds a- 33.7 357 - - VI. Utilization of Loans 2.8 2Q 10.9 1b.0 4.2 1o.6 3.0 37.8 Domestic 2.4 -0.1 10.2 12.5 3.5 2.14 1.2 ;1 Foreign 0.4 2.4 0.7 3.5 0.7 8.2 1.8 10.7 VII. Other Capital Resources 4.7 4.5 4.7 4.5 31.9 12.8 12.8 57 Loan repayment received 3.8 0.1 o.6 4.5 33.1 0.1 , 1 35.3 Depreciation reserves - 5.2 - 5.2 - 7.5 - 7.5 Use of cash balances - 5.6 -6.3 -10.6 -22.5 -4.5 -3.8 -8.8 -17.1 Other capital transfere 6.5 4.5 5.3 16.3 3.3 9.0 19.5 31.8 VIII. Intra-&xt_ Capitu1 ?rndm w _ V. 21.951 - IX. Extra-System Capital Tranafers .3 0.2 1.8 8.3 5.3 0.14 2.9 11.6 X. Investments 60. 2 A 48.2 140.2 106.3 38.8 74.58E/ 221.95/ Gross capital formation 28.9 31.8 46.0 lOo.7 58.9 3858 72 .01 169.75/ (Fixed capital formation) (28.9) (27.9) (46.0) (101.9) (58.9) (3858) (72.0) (169.7) (Inventories) (- ) ( 4.8) ( - ) ( 1. 8) ( - ) ( - ) ( - ) ( - ) Subscriptions 14.6 - - 14.6 14.3 - 1.1 15.14 Loans 16.2 - 2.2 15.4 34.3 - 1.7 3° 0 Subscriptions & loans abroad 0.5 - - 0.5 0.8 - - 0.e &'/ Monopoly profits include cay portions of surplus in monopoly which have been transferred to the general accowitj thio remaining portion is inoluded in eterprise revemes. Primaly budget. 5,/ Includes additions in supplementary budgets of Central Goernment in the anmont of 6.1 bill-ion won. No allocation of this amount is given in the expenditure data. They are inoluded here in the Savinges on Current Accowut and gross capital formation totals. Sourcet Reclassified from econamc clausfication of Governmet tranaactione published by the Bank of Korea, Econoaic Statistical Yearbook, variouas issues. Table 5. 2 Fbnctional Clasaifioation of Central Ooverzment E1penditure (In billion Won) Ien 6511966 1967 Current- Capta Total Crurrent capta Total Current Capital Total General Ssrvlces QJ.5O 0.32 42.82 581k 1.50 594 72.251 192 744Yk GeneraL Administratlon 6.40 0.20 6.60 7.99 0.71 -F7 I05 d107.77 11.17 DOfeanse 29.88 - 29.88 40.59 0.08 40.67 49.51 o.49 50.00 iJustice & Police 6.22 0.12 6.34 9.56 0.71 10.27 12.63 0.69 13.32 iocial Services 20.10 3.30 23.0 2902 9.40 38.42 37.18 12.63 49.81 Educati oil TM - M. ; 7:31 T Administrationi 1.71 0.04 1.75 1.65 0.12 1.77 1.73 o.06 1.79 Primary Schools 9.73 0.86 10.59 14.54 5.28 19.82 18.83 6.48 25.31 Secondary Schools 0.99 - 0.99 1.33 0.10 1.43 1.79 0.19 1.98 Colleges & llniversittes 1.01 o.46 1.47 1.53 o.56 2.09 1.81 0.76 2.57 Other o.o6 0.13 0.19 0.09 0.03 0.12 0.12 0.07 0.19 Health .81 0.09 0.93 1.21 0.24 1.45 1.43 0.26 1.69 Social Security & Snectal Welfare Serviceas 5.10 0.14 5.24 7.47 0.08 7.55 9.79 1.15 10.94 Other Social Services 0.54 0.40 0.94 0.51 0.71 1.22 0.74 1.09 1.83 tHous i ng 0.36 0.36 - 0.50 0.50 - o.60 o.60 Other 0.66 1.22 1.88 1.20 'i.49 3.69 1.68 3.06 4.74 Economic Services 381 2657 30.38 5.72 49.67 55.39 +6.6 62.73 69.42 Agriciulture & Nonmineral Reaources 2 5713.06 9.6 4.03I T.317 2 1 .34 Adttnistration 0.13 - 0.13 0.19 - 0.19 0.33 - 0.33 Hesearch 0.95 0.13 1.08 1.14 0.36 1.50 1.62 0.34 1.96 Agriculttitr 1.14 4.92 6.o6 1.05 9.09 10.14 1.09 7.69 8.78 Forestry 0.05 0.73 0.78 0.35 0.86 1.21 0.07 1.09 1.16 8urniAng & Fishing 0.31 1.30 1.61 0.54 2.98 3.52 0.92 8.18 9.10 Other - - - - 0.07 0.07 - 0.01 0.01 Fuel & Power 0.02 1.32 1.34 0.03 3.09 3.12 0.05 1.10 4.15 Mining, Manufacturinig and Construction 0.62 5.15 5.77 0.90 7.59 8.49 1.29 12.04 13.33 Maniuracturing 0.07 4.79 4.86 0.13 6.99 7.12 0.11 11.11 11.22 Others 0.55 0.36 0.91 0.77 o.60 1.37 1.18 0.93 2.11 Transport, Storage and Communications 0.17 11.15 11.32 0.80 22.88 23.68 0.17 26.32 26.49 Administrationi anti Research 0.17 - 0.17 0.09 0.02 0.11 0.07 - 0.07 Roads and Water Ways 0.08 1.12 1.20 0.14 2.78 2.92 0.14 3.82 3.96 Railuays - 4.85 4.85 -0.12 10.77 10.65 - 10.77 10.77 Water Transport -O.Ol 1.24 1.23 0.61 1.83 2.44 0.01 2.55 2.56 Communicattoms - 3.68 3.68 - 6.96 6.96 - 8.78 8.78 Air Transport -0.07 0.26 0.19 0.08 0.52 0.60 -0.05 0.40 0.35 Other Economic Services 0.40 1.89 2.29 0.72 2.75 3.47 1.15 2.96 4.11 Unallocable Ependtture 396 02 4.28 _91 0.91 . 20 0.25 20.55 Interest on deneral nebta -5USE - 5±§ 0.41 - 10.41 20. - 2-57 tlnallocable Transfers to Local Ooverument 2.86 0.32 3.18 8.34 0.19 8.53 18.66 0.25 18.91 Other Unallocable o.40 - 0.40 0.55 - 0.55 1.07 - 1.07 Other 0.08 - 0.08 0.61 - 0.61 - - - Total 70.37 100.88 1OQ.79 60 1636.5 _______ __ 7.3 "'2 Pape 2 Table 5.2 Functional Classification of Central Oovernnment Expenditure (Tn billion Won) 1968 196,9/ Current Capital Total Current Ca 1tal Total Goneral Services 93.82 4.6 98.58 120.18 8.60 128.73 General Administration 12.99 2.4 1 .13 17.49 l 1.07 Defense 6h.79 0.62 65.38 82.51 1.75 814.26 Justice & Police 16.06 2.01 18.07 20.1H 3.)7 21.!,5, Social Services 2 21.15 U80 68.23 j275 Q5.82 Education 3.7 O.hTB 75500; l . 3 ,.81 Alministration 1.16 0.15 1.31 1.53 O.?l 1.7II Primary Schools 26.13 8.32 3h.h5 33.93 11.83 l5.7' Secondary Schools 4.79 0.23 5.02 6.09 0.29 6_ 8 Colleges & Universities 2.55 1.28 3.83 3.25 2.38 5.61 Other 0.14 0.08 0.22 0.20 0.12 0.13 Health 1.76 0.58 2.34 2.17 1.27 3.hl Social Security& Special Welfare Services 13.83 3.61 17.41t 18.01 3.86 21 9.7 Other Social Services 0.78 2.19 2.97 1.08 1.7S 2233 Housin8 0.15 1.62 1.77 -- - _ Other t 2.14 5.88 7.42 3.o5 7.63 10.68 Economic Services 10. 1 869 100.20 Lt.77 14Q9.?! 16h.01 =gricalture & Normineral Resoarces 6.42 27 50 7 7 Administration 0.92 0.18 1.10 1.21, 0.17 1.1,] Research 0.41 0.18 0.59 0.56 0.23 O. 79 AgricuLture 3.57 12.56 16.13 1.00 .31.28 35;.28 Forestry 0.66 3.14 3.80 o.8o 3. )4 3.c8i Hanting & Fishing 0.86 6.10 6.96 0.95 6.05 7. X1 Other Fu31 & Power 0.12 9.57 9.69 0.1' 1).714 10. 8!h Minin,,, Mlanufacturing and Construction 1.74 12.53 lb.27 2.82 15.72 18. 5 Manufacturin, 0.53 11.16 Ul.59 1.!,9 15.36 1 .8; Others 1.31 1.37 ..68 1.33 0.36 . ? Transport, Storage and Communications 0.45 42.70 4,l.15 1.31 70.68 71.99 administration and Research 0.12 - 0.12 0.15 - °.15 hoads and .Water Ways 0.27 14.65 1M.92 1.11 33.29 3,.1J0 Railways 0.J0 11.81 11.81 - 11.21, 1-.2), Water Transport 0.0 4.06 4.10 0.11 7.62 7.73 Communications 10.76 10.76 - 17.53 17.53 Air Transport 0.02 1.41 1.43 -;.06 1.00 0.95 Other Economic Services 1.79 2.72 51.51 2.9? 11.33 1M.3? Unallocable Expenditure 27.77 - 27.77 h.00 _ 1,0.0; Interest on General Debts 0.09 - 0.09 0.11 - 0.11 Unallocable Transfers to Local Governrment 25.46 - 25.46 36.94 - 36.94 Other Unallocable 0.65 - 0.65 0.65 - n.65 Other 1.57 - 1.57 2.30 - ?.30 Total 184.75 11.5.60 300.3 243.18 13.61 ,/ Including Government enterprises b/ Bud-iet estimates, including lst and 2nd Supplementary Budgets. e/ Includin- fire protection, water supply, sanitation and other community services. Source: The Bank of Korea. Table 5.3 Tax Revenue (In billion won) 1965 1966 1967 1968 1969 1970 Total Tax Revenue 65.8 103.6 143.3 213.8 283.3 366.o Direct Taxes 25.1 40.0 56.5 83.5 106.1 140.6 Indirect Taxes 40.7 63.6 86.8 130.3 177.2 225.4 Central Government 54.6 87.6 129.2 194.3 262.1 341.0 Direct Taxes 19.1 33.8 g1 77.7 100.3 133.6 Personal Income Taxes 11.7 20.3 31.0 47.6 58.8 81.5 Corporate Income Tax 5.7 10.9 15.9 24.6 34.7 44.3 Other Direct Taxes 1.7 2.6 4.2 5.5 6.8 7.8 Indirect Taxes 35.5 53.8 78.1 116.6 161.8 207.4 Customs Duties 12.5 17.6 25.4 37.9 52.2 60.4 Commodity Tax 7.0 10.4 15.4 22.2 30.8 42.0 Business Activity Tax 4.4 7.3 11.6 17.5 22.1 28.2 Petroleuja Tax 3.2 3.7 4.6 11.4 17.2 21.4 Liquor Tax 3.8 6.3 8.1 11.2 16.4 22.4 Transportation Tax 1.2 2.8 4.9 6.7 8.8 11.0 Electricity & Gas Tax 1.6 2.2 2.9 4.1 6.o 8.3 Other 1.8 3.5 5.2 5.6 8.3 13.7 Local Government 11.2 16.0 14.1 19.5 21.2 5 / Direct Taxes 6.o 6.2 5.4 5.8 5.8 7.0 Indirect Taxes 5.2 9.8 8.7 13.7 15.4 18.0 Total Tax Revenue as % of 2/ c/ Money GNP 8.2 10.0 11.5 13.6 14.2 15.0 2/ Second Supplementary Budget bJ Central Government draft budget as submitted to the National Assembly. Local Government revenues estimated by EPB c/ Based on GNP estimated in 1970 ORB d/ Estimate in ORB 1970. Estimate of EPB Budget Bureau is at Won 24.4 billi.on Source: Ministry of Finance Table 6.1 Outstandlng Loara nd Dimcottt oi h1 I tioa/ by IA418t&a tIn btllion itm at the ond of period) Total W Unt Total lq nat TDIA 197 t Ttl sq St 9 9 ( Agriculture, Forestry 4 Fisheries 21.9 6.9 26.o 8.0 32.8 10.1 47.8 124.3 71.2 22.2 (Commercial banks) (0.7) (-) (1.5) (-) (2.9) (_) (5.1) (-) () (4*) (Korea Development Bank) (-) (-) (0.5) (0.2) (0.6) (0.2) (0.7) (-.) (.) () MintAng & Quarrying 2.9 1.4 3.7 1.4 7.3 2.0 12.8 3.0 16.1 3.6 (c:ommerctal bank) (0.9) (-) (1.6) (-_ (3.7 ( (7.4) () () (4*) (Korea Development Bank) (1.8) (1.4) (1.9) (1.4 (3.0 (1.9 (4.5) (2.8) (5.5) (3.3) Manufacturing 47.4 14.0 68.1 18.5 105.4 23.1 170.4 33.4 259.9 42.7 (Commercial bankn) (20.2) (0.9) (32.3) (0.7 (57.8 (0.5) (102.6) (1.9) (e) (4*) (Korea Development Hank) (18.6 (12.1) (23.7) (16.2 (25.4 (18.0) (32.5) (22.8) (38.7) 1(25.7) Constrniction 3.9 2.5 5.9 4.0 4.8 0.3 14.4 2.1 39.0 19.2 (Comnercial banka) (1.5) (-) (2.2) (0.3) (4.2) (0.3) (10.4) (0.3) () (4*) (Korea Development Bank)b/ (2.4) (2.4) (3.7) (3.7) (_.) (0.1) (0.4) (0-4) (5.6) (5.6) Electricity, Waterworks & Swntation 11.1 11.0 13.8 13.2 18.0 16.7 20.6 17.1 25.9 21.1 (Comnmercial banks) (-) (-* ) (0.5) (-) (1.1) (-) (1.8) (_) () () (Korea Development Bank) (11.1) (11.0) (13.2) (13.2) (16.8) (16.7) (18.6) (17.0) (22.3) (20.7) Commerce, Danking & Real Estate 12.1 0.1 16.9 0.5 29.4 0.7 49.7 1.1 89.1 1.0 (Commercial banks) (10.6) (-_) (13.6) (0.3) (24.2) (0.3) (37.9) (0.1) () () (Korea Development Bank) (-) (-) (-) (-) (-) (-) (-) (-) (-) () Transportation & Storage 1.8 1.3 3.1 2.9 6.2 5.7 13.5 6.5 18.5 6.6 (Commercial banks) (0.7) (0.1) (1.3) ( ) (2.5) (.) (5.9) (0.1) () (**) (Korea Development Bank) (0.7) (1.2) (1.3) (2.8) (3.0) (5.6) (6.4) (6.3) (6.5) (6.3) Services 3.2 1.8 3.9 1.0 7.2 1.4 17.0 6.6 20.2 6.5 (Ccsnmercial banks) (1.4) (0.3) (2.9) (0.5) (5.4) (0.7) (9.5) (1.2) (4*) () (Korea Development Bank) (1.5) (1.5) (0.5) (0.4) (0.7) (0.7) (3-3) (3-3) (3.8) (3.6) Other, n.i.e. 2.2 (*) 2.1 0.1 3.8 0.1 15.9 7.7 14.2 0.5 (Commercial banks) (1.2) (-) (1.9) (4) (2.7) (0.1) (5.1) (-) (4*) (4*) (Korea Development Bank) (-) (-) (-) (-) (-) (-) (-) (-) (-) (-) TOTA11/ 106.5 39.0 143.5 49.6 214.9 60.1 362.1 91.8 554.1. 123.4 (Ciwercial banks) (37.2) (1.3) (57.8) (1.8) (104.5) (1.9) (185.7) (3.6) () () (Korea Develop nt Bank) (36.1) (29.6) (44.8) (37.9) (49.5) (43.2) (66.4) (52.6) (82.4) (65.2) a/ Totals include Cc erci Banks, N.A.C.F. and &er cooperatives, te Metdium Indatry Bank, C±tisenasliatonal Bank, Korea Exchange Hank, the Korea Housing Bank and the Korea Development Bankl that ie, all banking institutions except the Bank of Korea. b/ The construction bustinss of IDB was transferred to tbr Korea Haoudng Bank at the time of its fuxnding (July 1967). . Less than the unit. Data not avilable. Sourcer Bank of Korea. Table 0.2 Money Supply and Principal Factors Affecting It (In billion won at end of period) Sept. Sept. 1964 1965 1966 1967 1968 .968 1969 Currency in circulation 24.9 31.6 42.9 5l.6 81.9 68.3 95.3 Monetary deposits 23.7 33.1 41.3 62.l, 68.0 72.3 97.0 Money suppIly 48.6 64.7 84.2 120.0 149.9 14o.6 192.3 Public sector borrowing from the hanking system 7.5 15.7 12.2 1L.5 1. 3 L7.4 -(.9 Government overdrafts minus Government deposits 9.L, 7. 4 1.5 -1.5 -7 .'I .9 .3 Government honds held by all bnkcinr- institutions 13.7 13.)4 13.2 171.3 1.6.9 1. 10 t. Loans Ilo Government apencies by BOK 2.1 12.3 18.5 'O. l 27.9 27.3 30.9 Minus Government lending to all bankin- institutions 19.0 18.7 22.7 ,27.6 31 .9 31,. 3 59.3 Claims on Ireal Government of banking institutions 1.3 1.3 1.8 3.3 8.0 7.3 7.3 Privqte sector borrowing from the bankinr system 41.3 43.3 33.? )13.1 51.2 1,5. L 55.7 Loans with hankine funds 39.1 5. 3 85.7 L Tlc. 270.7 2T? 71 13F.- Loans with fiscal funds 15.1 15.7 17.8 h).7 3It.,5 7 48.8 Stocks and debentures 1.6 .4h 1.l, 2.7 9.' 7.0 13.9 Minus time and savings deposits 14.8 31.7 71.8 I0o.13 26o.o 229.7 I137.& Minus Housing Finance Debentures - - - - 3.7 1.6 5.5' "'oreien Sector -1.9 6.4 41.5 78.1 105.9 9'?.1 136.2 Others 1.7 -0.7 -2.7 -I 2. 7 -l),.' -21.0 1.3 Note: Figures may not add up due to rounding. Source: Bannk of Korea Table 6.3 a/ b/ a/ Deposits and Credits of Banking Institutions (Outstanding amount in billion won at the end of period) Sept. Sept 1965 1966 1967 1968 1968 1969 Den_a eLd posi is 39.9 36.0 76.2 117.7 108.5 171.0 Comnercial Banks 29.0 23.2 49.3 77.1 75.3 118.1 Other Hankinir Instituitions 10.9 12.8 26.9 40.6 33.2 52.9 Mirnf arrid 3aLV1F1r Deposits 38.7 85.0 128.5 255.6 223.7 434.7 Coinme rciil Hanks 26.3 59.3 87.6 172.5 152.1 301.4 Other B3ankinf Institutions 12.i1 25.7 40.9 83.1 71.6 133.3 (Time Deousi ts) (17-5) (37-0) (72.4) (147.6) (136-4) (243.5) Credo tn S c/88.0 105.9 174.1 311.2 274.7 492.3 C' Coinmerci al H?nks 37.5 57.9 104.6 185.7 160.3 302.3 Other Binkimn Institutions 38.0 48.0 70.5 125.5 114.4 190.0 7xcrhi.es treasury and foreign currency deposits, deposits of banking institutions at BOK and inter-bank deposits, hut includes local government and savings deposits with BOK. b/ Exclides Covernment overdrafts, loans in foreign currency and BOK loans to banking institutions. Until 19h8, including BOK loans to private entities not shown separately in the table. c/ includlin! accounts of domestic branches of foreign banks and local banks from July and October 1967 respectively. Source: Bank of Korea, Monthly Economic Statistics Table 6 4 Interest Rates A. Deposit Interest Rates of Banking Institutions (percent per annum) Effective Date 1965 1968 Prior to Sept. 30 Sept. 30 April 1. Oct. l June). Deposits Time Deposits Over 18 months 15.0 30.0 27.6 g Over 12 months 15.0 26.4 26.4 25T2 22.8 Over 6 months 12.0 24.0 20.4 19.2 16.8 Over 3 months 9.0 18.0 15.6 14.4 12.0 Short-Term Savings Notice 3.65 5.00 5.00 5.00 5.00 Savingsy 3.60 7.20 - - - New Household Deposits - - 12.0 12.0 9.6 Installment Savings Deposits 10.0 30.0 28.0 25.0 23.0 Deposits of National Savings Association 16.8 30.0 28.0 25.2 22.8 Demand Deposits Passbook 1.80 1.80 1.80 1.80 1.80 Temporary 1.00 1.00 1.00 1.00 1.00 3/ Time deposit rates are actual rates agreed upon by the Korea Banking Association. The other rates are maximum rates decided by the Monetary Board b/ Abo,lished in November 1967 i New Household Deposits - maximum balance per account 5 millien won; depositers must be individuals or non-profit organizations, and a 30 days' notice is required for withdrawal Source: Bark of Korea, Monthly Economic Statistics Table 6.4 B. Selected Interest Rates on Loans and Discounts of the Bank of Korea (Percent per annum) Effective Date 1965 1968 1969 Prior to Nov. 16 Nov. 16 Dec. 1 Mar. 1 Oct. 1 June 1 Export and UN Supply Loans 3.5 3.5 3.5 3.5 3.5 - Rice Lien Loans 4.0 4.0 4.0 4.0 4.0 - Commercial Bills 11.5 21.0 28.0 21.0 23.0 22.0 Other Bills 13.5 23.0 28.0 28.0 28.0 26.0 Purchase of Aid goods 9.5 23.0 26.0 26.0 25.2 24.0 C. Selected Interest Rates on Loans and Discounts of Commercial Banics (Percent per annum) Effective Date 1965 1966 1967 1968 1969 Prior to Sept. 30 Sept. 30 Feb. 1 June 29 Oct. 1 June 1 a/ a/ a Export Bills 6.5 6.5 6.5 6.0 6.0 6.0 Import Bills - - 6.o 6.o 6.o 6.o Commercial Bills 14.0 24.0 24.0 24.0 26.0 24.6 Other Bills 16.0 26.0 26.0 26.0 25.2 24.0 Overdraft 18.0 26.0 28.0' 28.0 28.0 26.C Overdue Loans 20.0 36.5 36.5 36.5 36.5 36.5 Loans for Machinery Industry Promotion - - - - 12.0 12.0 a/ Commercial bank loans for raw material imports for export production cazrry an interest rate of 6 percent; interest rate on loans for imports of raw' materials for other purposes is 24 percent Source: Bank of Korea, Monthly Economic Statistics Table 6.4 D. Interest Rates on Loans and Discounts of the Korean Development Bank (Percent per annum) Effective Date 1965 1967 1965 1969- Sept. Sept. July Dec. June Oct. Jan. March Industrial Funds 25 30 10 1 26 17 4 1 Government Funds Housing Funds 4 4 - - - - - - Special Funds a/ 6 7.5 7.5 7.5 7.5 7.5 7.5 7.5 Operating Funds b1 18 18 18 18 18 18 18 Other equipment Funds-' Short term 10 12 12 12 12 12) Medium term 9 1 11 11 11 11) 10-12 12 Long term 8 10 10 10 10 10) Internal FundsC/ Ordinary Lois Short term 10 12 12 12 12 12 Medium term 9 11 11 11 11 11 Long term 8 10 10 10 10 10 Discount o bills 10 18 18 18 18 18 Important_6 industrial Funds Equipment Funds 12 12 Operating Funds 18 18 Other industrial Funds Equipment Funds 20 20 Operating Funds 23 23 ±/ Included are power development, shipbuilding, coal, public utilities and marine transportation funds b/ These various funds have been reduced to the heading classification as of January 4, 1969 C/ New sub-classifications of internal funds became effective on January 4, 1969 d] Included are funds for electricity, coal, shipbuilding, iron and steel and other industries so designated by Presidential Decree Source: Korean Development Bank, Monthly Economic Review, July, 1969 Table 6.4 E. Selected Interest Rates on Loans and Discounts of Special- Institutions (Percent per annu - Effective Date 1965 1967 1968 1969 Sept. 30 June 29 Oct. 1 Oct. 1 Jan. 4 Jue 1 National Agricultural Co- operative Pederation Banking funds for b/ Agriculture 15.0 15.0 15.0 15.0 Forestry 23.0 26.0 25.2 24.0 Rice Lien loans 11.0 11.0 11.0 11.0 Government funas for AgricultureS/ 10.0 10.0 10.0 10.0 Irrigation 3.5 3.5 3.5 3.5 Medium Industry Bank Banking funds for Medium industry 23.0 23.0 23.0) Medium industry equip- ment 15.0 15.0 20.0 Cooperative business 14.0 14.0 20.0) Government funds for Equipment - 12.0 12.0) Cooperative business 12.0 12.0 12.0)- Citizens National Bank Banking funds for Mutual remuneration - 25S2)e/ 24.8 24.8 24.0 Mutual installments 20.0 20.0)- 20.0 20.0 18.8 Government funds for Household manufactu- c/ ring 16.0 16.0)e/ 16.0 18.0 18.0 Relief - 8.5)- 8.5 8.5 8.5 f/ Korea Housing Bank Loans for housing Public - 8.0 8.0 8.0 Private - - 10.0 10.0 10.0 Loans for forming housing sites Public - _ 10.0 18.0 18.0 Private -- 26.0 26.0 214.0 a/ Short-term funds provided from counterpart funds bF/ On development loans for sericulture, drought relief and livestock an interest rate of 9 percent is applied c/ Enforced from December 1, 1968 1/ As of June 30, 1969 e/ As of March 15, 1967 Source: Bank of Korea, Monthly v~ Started operations in October 1967 Economic Statistics Tnble 7.1 Production of Agricultural Crops (In thousand M. Tons) 1965 1966 1967 1968 1966-_ Cereals 5 757 6,401 5,970 5,810 6,990 Rice 3,919 3,b33 9 b,195 Barley 1,807 2,018 1,916 2,083) 2,678 Nheat 300 315 310 345) 1 Millets 61 67 42 78 85') Rye 29 41 27 25 27) Corn 40 34 60 63 66) b' Others 19 7 12 21 25) Pulses 203 195 235 288 283 Soya beans t7l M6 T: 2- - Others 29 34 34 43 - Potatoes 10145 972 631 758 1,30 Sweet 929 7I i17 7 - White 116 138 113 123 - Fruits 310 326 359 392 431 Apples 161 71 i9. 199 222 Peaches 54 63 71 72 80 Pears 40 h1 41 48 57 Persimmons 24 22 24 35 27 Oranges 1 2 2 3 4 Others 24 29 31 35 41 Vegetables 1567 1w584 14869 2,150 1845 Radishes 5 7 597 580 690 623 Chinese cabbage 480 520 609 738 627 Red peppers 46 67 67 84 72 Others 463 400 613 638 523 Special Crops 41 57 62 67 75 Cotton 172 :0 if I 17 Others 29 43 50 54 58 Tobacco 56 72 66 71 76 Cocoon 7.8 9.6 10.9 16.5 22.0 a/ Provisional b/ Estimated by the Mission Source: Data supplied by Ministry of Agriculture and Forestry Table 7.2 Yield Per Hectare By Major Crops TKg. per Ha.) 1965 1966 1967 1968 1969 (est.) Rice (polished) 2,830 3,160 2,890 2,750 3,310 Barley (polished) 1,750 1,960 1,850 1,760) ) 2,220 Naked Barley (polished) 1,760 2,210 2,070 2,450) W1heat 1,960 2,040 2,030 2,170 Corn 800 790 1,180 1,490 Soybeans 560 580 640 780 White Potatoes 1,910 2,260 1,930 2,9t0) ) 5,030 Sweet Potatoes 6,o940 5,590 3,760 4,62O) Apples 8,780 8,930 9,580 9,840 10,770 Pears 7,640 7,370 6,930 7,750 9,310 Peaches 5,120 5,830 6,200 6,150 6,820 Radishes 14,110 14,130 13,010 13,980 13,800 Cabbage 18,120 19,510 22,300 21,110 16,700 Source: Ministry of Agriculture and Forestry Table 7.3 Utilization of Cultivated Land a/ A. Area (In Thousand Chungbo) Planted Area of Major Crops Area of Cul- Planted Sericul- tivated Crop Barley Iliscl. Vege- ture & Other Year Land Area Rice & TTheat Grain Pulses Potatoes Fruits tables Tobacco Crops 1965 2,275 3,586 1,238 1,211 216 368 214 43 151 84 61 1966 2,312 3,482 1,242 1,148 171 345 210 45 154 99 68 196, 2,331 3,540 1,246 1,150 162 380 196 48 177 107 74 1968 2,338 3,552 1,160 1,161 200 384 198 51 193 133 72 b/ 1?69 2,353 3,796 1,241 1,208 183 433 258 52 177 170 74 P. Percentage of the Total Average 1965-68 100.0 34.5 33.0 5.3 10.4 5.8 1.3 4.8 3.0 1.9 1°6> 100.0 32.6 31.8 4.8 11.4 6.8 1.4 4.7 4.5 2.0 a,' 1 chungbo - 0.99 hectare b/ Estimated by Ministry of Agriculture and Forestry Source: Ministry of Agriculture and Forestry Table 7.4j Rice Planted Area Classified By Irrigation Facilities (In Thousand Chungbo) a/ 1965 1966 1967 1968 1969 (est.) (1) Area benefitted by irrigation facilities: Facilities provided by associations 354 377 387 387 399 Fully irrigated paddy with other existing facilities 355 359 378 350 378 Newly developed small-scale irrigation facilities b/ - - - 39 207 Sub-total 709 736 765 776 1,005 (2) Partially irrigated paddy 301 291 281 215 70 (3) Rain-fed paddy 200 181 178 145 187 Total 1,209 1,209 1,214 1,136 1,2h1 a/ 1 chungbo = 0.99 hectare b/ Mainly tubewells with pumps Source: ULIA and Ground Water Development Corporation Table 7.5 Number of Livestock and Output of Livestock Products A. Number of Livestock (In Ihousands) 1965 1966 1967 1968 1969 -(est.) Draft cattle 1,314 1,290 1,243 1,257 n.a. Dairy cows 6.6 8.5 10.4 12.8 n.a. Beef cattle 0.8 1.1 2.1 5.5 n.a. Pigs 1,382 1,457 1,296 1,1420 n.a. Goats 178 161 133 130 n.a. Sheep 1.0 1.1 1.6 2.1 n.a. Rabbits 763 908 833 850 n.a. Chickens 11,893 14,008 17,079 22,500 n.a. Ducks 210 233 227 270 n.a. Turkeys 1.9 1.8 1.6 1.6 n.a. B. Output of Livestock Products Meat (1,000 MT) 99.8 112.8 130.0 165.9 189.0 Beef 27.3 29.2 30.2 35.9 39.8 Pork 55.9 60.4 72.2 82.0 90.6 Poultry 14.7 21.0 25.1 45.0 55.0 Other meat 1.9 2.2 2.5 3.0 3.6 Eggs (million) 864 1,312 1,673 1,584 1,757 Milk (1,000 MT) 7.1 9.3 19.1 21.4 25.0 Source: Livestock Bureau, Ministry of Agriculture and Forestry Table 7.6 Number and Tonnage of Fishing Vessels Non-Powered Powered Total Average Average Average Number Tonnage Tonnage Number Tonnage Tonnage Number Tonnage Tonnage 1965 43,500 83,600 1.9 7,600 119,500 15.7 51,100 203,100 4.0 1966 44h,400 85,500 1.9 8,900 160,500 18.0 53,300 2h6,000 4.6 1967 46,300 83,000 1.8 11,000 179,000 16.3 57,300 262,000 4.6 1968 50,558 86,600 1.7 11,444 206,362 18.0 62,002 292,962 4.7 a/ 1969- 51,200 91,000 1.8 11,800 21 4L000 18.9 63,000 302,000 4.8 a/ Estimates Source: Office of Fisheries Table 7.7 L-oans Extended frcm Natio? Aaltuue Coopwati've Federatici TNImillionn) Composition % Thrms and Interest V265 j966 1967 1968 1968 Rate per Annmu anmking: Funds Short-term Loans Agricultural production 2,685 2, 98 3,018 5,841 5.4 1 year C 15 % AgrLcuuwure arnd forestry/ h,219 6,h09 1U,I89 12,423 11.h 1 year 0 25.2% Rtce! lIVbD 1,974 1,965 1,589 1,068 0.9 1 year a 11 S Finh. r-y- 1,015 1,LL21 2,136 8,843 8.2 1 yeas 0 16-25.2% Goieral commsercial 4,245 11,254 22,931 52,167 48.2 1 year 0 25.2% Special fisheries 64 7 5 - Fwusilness ]oiuns to cooperatives 9,532 10,367 12,193 10,569 9.8 1 yeal 0 25.2% Commercial farms - 622 1,828 5,320 4.9 1 year 6 25.2% Medium-term Loans Special program - - - 4,584 4.2 3 - 8 yeas 0 9% Sub-total Banking Funds 3.44.6 100.815 93.0 Government Funds Short-and-Medium-term Loans Agricultural 4,435 4,018 5,433 5,387 5.0 1 -15 years 0 9-12% Fisheries 3- - Lcug-term Loans Irrigation 3,t28 1,248 1,917 2,201& 2.0 35 yeaLrs 0 3.5% Warehouse 1 - 12 - - 25 years @ 8 % Total of Cutat.anding Loans £B2 £Ja2 2j 7L16 a,L77,2^8! Turnover ratio (A/B) 1.38 i.47 1.82 2.05 Average term af loans (months) 8.7 8.1 6.6 5.8 a/ This Asicludes loans rar agrioultural busmtnes, segricaltu_ beUinasa, tobacco and food processing, et b/ Tonludea fish raising and laver at 16.0 percent, deep-sea fishing at 20 peroent, and others at 2 .2 percent Sources National Agriculture Cooperative Federation (NACF), A=sual Reperts Table 7.8 Financial Status of NACF And Its Networks (Outstanding in Billion W4on at the End of Period) a/ 1965 1966 1967 1968 1965_ Uses of Funds: Loans 23.3 27.1 34-. 52.8 82.6 (32%) (32%) (33%) (35%) (38%) Business operational funds 39.6 43.3 45.8 79.1 107.9 (55%) (50%) (45%) (52%) (50%) Others 9.7 15.8 22.6 20.6 25.9 (13%) (18%) (22%) (13%) (12%) Total 72.6 86.2 102.8 152.5 216.4 (100%) (100%) (100%) (100%) (100%) Sources of Funds: Deposited by farmers 1.h 2.0 3.5 11.2') 68.5 ( 2%) ( 2%) ( 3%) (7%),) Deposited by non-farmers 9.2 18.9 2h.3 35.6 ) (32%) (13%) (22%) (24%) (23%)) 3 Borrowed from Government and BOK 31.0 38.2 43.4 53.9 74.1 (45%) (O44) (42%) (35%) (34g) Payable on business operations 25.0 22.1 23.2 45.0 66.o (34%) (26%) (23%) (30%) (30%) Others 6.0 5.0 8.4 6.8 7.8 (8%) (6%) (8%) (4%) (4%) Total 72.6 86.2 102.8 152.5 216.h (100%) (100%) (100%) (100%) (100%) a/ As of end of September Sources: BOK's Monthly Economic Statistics, November 1969, and NACF's Annual Report, 1968 Table 8.1 o,vtv and Struotu. of the K30rtn IIduatr7 O r o w t h R a-t s t r u c t u r e % Value Added in ConatW 1965 Pricese I trial Tndoz (12965-100) Value Added E tt Inraeturent 1965 19d968 P.de . 19 (Billion Won) ! F 1E I, C01N:t;UMEt:; CrOODi; tND1ITRIES 90.39 152.48 169 19.1 184 190 23.0 24.0 62.8 58.0 49.4 50.2 .:4.6 16.68 28.58 171 19.6 232 194 33.0 25.0 11.6 10.9 7.9 10.4 2.5 tiev.r:^+-eny 9.68 16.00 165 18.2 169 169 19.1 19.1 6.7 6.1 2.9 3.1 10.05 1.141 183 22.0 125 136 7.7 10.8 7.0 7.0 1.8 2.0 T L''i !.-:1 430.66 68.18 168 18.9 194 224 25.0 31.0 28.3 25.9 25.5 24.3 i2.1 (:loltI t uat I ro.it.enr 5.40 7.85 115 13.4 130 165 9.1 18.2 3.7 3.0 6.4 5.7 F-min3t vIrr 1.01 1.97 195 25.0 193 125 25.0 7.8 0.7 0.7 1.3 1.5 i,1-w. tItl j,tttIi,,hltn 6.91 11.49 166 18.4 179 177 22.0 21.0 4.8 4.4 3.5 3.2 tl. TN1TF'IMFIDIA'TF LODIIS IN3USTRIES 23.93 48.37 202 26.o 219 281 30.0 41.0 16.6 18.4 17.7 18.4 . 5.4 W(IOl ill' . 3-4.5 8.38 242 34.0 237 411 33.0 60.0 2.3 3.2 2.8 4.5 7.0 P IX. :toi pull' 3.50 5.51 157 16.2 160 203 17.1 26.0 2.4 2.1 2.4 2.0 I1-,thti riil leather products 0.97 1.41 145 13.2 174 116 20.0 5.1 0.7 0.5 0.6 0.6 litoe,t Iir hicti, 3.18 3.74 117 5.4 118 129 5.8 8.8 2.2 1.4 4.3 4.3 3.6 'h-m1c,tl Intstrlees 6.82 18.06 264 38.0 254 319 36.0 47.0 4.7 6.9 5.0 4.8 B.4 (F-l t I Iteir:.) (1.87) (7.53) 402 60.o (1.3) (2.9) P',-tro, temi a I. 6.01 11.27 187 23.0 237 199 33.0 26.0 4.2 4.3 2.6 2.2 6.4 (Ikit.le.uAlm prrtidicts) (2.76) (8.20) 297 44.0 (1.9) (3-1) Pil, t. 1 . ) I11. rAI'ITAI. 0I0ODS INDUSTRIES 26.83 56.l46 210 28. 0 214 211 29.0 28.0 18.6 21.5 26.2 26.9 59.9 ,iuIal IIIliI.r 167 248 18.7 35.0 4.1 5.8 0.9 Non,-t.,lll r ineiri, l. 6.22 11.82 190 24.0 194 163 25.0 17.7 4.3 4.5 7.0 5.9 35.7 (losir Si t,elo7.73 L1.90 180 22.0 159 230 16.7 32.0 5.3 5. 2 3.0 3.3 1.8 (Nol- ferroll ) Omiieral muchirery 3.78 5.98 158 16.5 163 209 17.7 28.0 2.6 2.3 4.3 3.7 0.5 Elct.,rical. mda1t rIery 3.19 8.57 269 39.0 216 201 29.0 27.0 2.2 3.2 2.9 3.3 14.5 (Electronics) (.1.0) (El. Ci.tl-I mach,nery) T,an,porit. i"lueprt, 5.9i 16.19 274 41.0.0 330 237 49.0 33.0 4.1 6.1 5.2 4.9 6.5 (S tiii ,bi dnr) 31.0 (Au Lonobile) TV. OTHER MANUFACTIRINO 2.67 5.71 214 29.0 184 263 23.0 38.0, 2.0 2-1 6.3 4.4 0.1 TOTAL 143.82 263.02 182 22.0 197 218 25.0 30.0 100.0 100.0 100.0 100.0 ]00.0 Sour-e: Vnhr atdel data. calculated by the Mission fTom the Nstional Accounts; indvutrial index, aunk of Korea and Korean Development fiank; Finp.n.y.mt,t ertiva ted from data supplied by the Korean Productivity CGmterl Ireatinnt: estimted from the oample supplied by the Korean Devolopmeet 3ank. Table 8.2 Siea Dis ibut4on of.jgfttrial Inta tsee (in % ) VaIna Addd l ll Cmomr Indud tries Food produots 142 32 35 60 55 56 27 19 19 22 18 15 1l 31 49 46 18 27 29 mereges a 50 36 33 so 70 66 * 25 18 20 11 14 16 1 25 146 47 9 16 18 Tobacco a - - - - - - 1 99 in0 lot 92 100 100 Footwear and wearirg apparel a 77 64 60 71 61 57 a 13 12 13 1S 15 12 1 10 21, 27 11 24 31 Furniture a 74 73 85 86 82 87 a 26 27 15 14 18 13 1 _ _ _ _ _ _ Textiles a 19 18 15 28 25 23 a 18 23 20 22 27 26 1 63 59 65 51 48 51 Printing and publishing a 41 34 35 49 414 44 a 23 1S 19 22 20 20 1 36 51 46 29 16 36 Consumer Goods Induatries - Total a 28 26 25 I 1 6 20 X Inteomedaate Induatrioa Wood and cork a 43 36 42 60 47 .15 a ii 13 7 9 14 7 1 46 51 51 31 49 48 Papar and paper producte a 25 19 15 47 44 14 a 33 25 27 31 27 27 1 42 66 58 2? 29 29 Leather end leather products 145 46 46 1,7 32 48 148 27 37 32 21 37 1 7 27 19 21 47 15 Rtibber products a 7 6 6 7 7 7 m 10 11 10 11 7 Y 1 83 83 814 82 86 81, Chemicals a 26 18 14 37 31 27 a 35 22 14 29 26 21 1 39 60 72 34 143 52 Petroleum a 76 29 13 81, 72 73 a 19 11 7 11 20 20 1 5 60) 801 5 8 7 Intarnadlate Industrtas total s 32 2 17 4 3 Capital Goods Industries Clay, glass, stones a 32 21 19 49 42 49 a 21 17 16 2P 25 23 1 47 62 65 23 33 28 Basic netais s 28 14 13 33 23 19 a 148 27 30 31 22 20 1 224 59 57 36 55 61 1ta Preducts 67 it? lb 72 53 53 * 20 36 1 20 25 32 1 13 17 1V 8 27 I< Machinery a 63 43 142 hl, 5 1,49 a 21 19 19 19 20 20 1 16 38 39 17 28 31 Electrical machinry and a 31 15 20 l6 27 22 applianoea a 34 12 22 30 23 26 1 35 73 48 V1 50 52 Transport equipment a 40 24 28 1.5 39 37 a 22 11 16 16 15 la 1 38 65 56 39 46 45 Capital Goods Imnuetries total a 4 miscellaneous a 51 25 30 53 30 27 a 38 33 31 38 32 29 1 11 45 39 9 38 44 TOTAL a2 3 ^ 22 lM 16~ ~ 21 : / Smell enterprises, 0-49 workera / Medium enterprises, 50-199 wrkere _/ Large enterprises, 200 workers nd more Sources Calculated by the aission ttm ansmfacturing surveys and censuses, prepared by KUt and BPS for various years Externar Sources: 3arn,ir.g Loans for Working ard F:xed Capizal (rillion won, Relative Grow Real - Financial Ratios Index eercent agesj/ -r e- Ret.. or, 196S Per 195 - 5ntiliza- Pa ita1 Profi.tabilit Interest (1965-100) Annui. (1965-100) '96 a tion off 0i 0feirTo 0ay. l0e 0tres 1.8 1J6 e Ca ties Net worth Net S les To Net Sales _ 1, T flte | -e . ,965 n1968 9 15 1968 1965 1968 I. CONSU?ER GWODS flMUSTRIES Food 152 15.0 111 538 581 497 92 28 53 11.2 20.5 4.6 4.5 3.3 4.4 Beverages 159 16.7 115 [07 886 759 186 41 40 17.0 n.a. 5.8 7.3 2.6 16.6 Tobacco n.a. n.a. Textiles 169 19.1 121 227 600 51h 226 S9 85 13.3 11.8 5.9 4.8 6.5 6.9 Clothing and footwear 155 15.8 113 134 189 161 120 n.a. n.a. 18.1 20.3 5.1 3.5 3.0 2.9 Furniture 119 lb.2 109 176 173 118 84 n 9.0 n.a. 6.3 11.5 1LB 5.1 Printing and publishing 181 22.0 132 361 1h2 378 105 " 41.6 15.1 3.4 7.8 1.0 4.3 II. flffTER?EDIATE GOODS hINUSTRT3S Wood products 162 17.5 118 509 509 h36 86 83 91 16.3 18.9 6.2 3,5 1.9 2.8 Paper and pulp 181 22.0 132 538 9124 791 1b7 90 95 22.9 18.0 10.7 7.1 8.2 9.0 leather and leather products 172 19.8 126 88 152 130 148 n.a. n.a. 15.1 8.9 4.1 1.4 1.3 4.5 Rubber products (tires) 145 13.2 106 136 229 196 114 89 66 20.2 13.0 5.5 3.4 6.2 7.7 Chemical industries 176 21.0 129 649 2,300 1,970 303 50 80 9.8 11.5 8.7 8.0 3.3 10.0 (Fertilizers) 103 80 Petrochemicals 211 29.0 154 (Petroleum products) 2,050 4,155 3,560 173 100 93 28.0 26.3 18.5 10.0 0.8 n.a. (ftn-made fibers) 100 75 12.0 (Plaaties) 98 50 III. CAPITAL WOODS EUSTRrS Non-metallic minerals 1911 25.0 11j2 916 1,151 986 108 97 95 13.2 2.3 6.0 0.1 7.2 12.5 (cemant) 100 100 loss lose 16.0 Basic metals 193 21.0 111 603 961 823 136 12.3 16.5 7.4 4.6 1.5 3.0 (Steel) 40 60 (Non-ferrous) 60 75 General machinery 1n 19.6 125 176 563 484 275 n.a. 36 21.6 5.7 8.1 3.1 1.7 3.6 Electrical machinery 190 21.0 139 213 336 287 135 74 20.5 21.4 7.1 7.6 5.5 5.7 (Electronics) n.a. 100 (Electrical machinery) 60 37 Transport equipment 220 30.0 161 329 778 666 202 80 4.6 30.8 2.5 8.9 3.8 3.0 (Shipbuilding) 26 28 (Autcmobile) 52 88 Metal products 214 29.0 157 h50 232 198 14 34 11.5 19.6 2.5 7.7 2.4 6.1 IV. WHOLE 1.NHUACTURflIS IDXJSTRY 177 21.0 129 387 763 653 169 15.3 16.1 7.9 6.0 3.9 5.9 V I*ney wages deflated by all urban co'nsf.r index Source: Calculated by the mission from data supplied by the Bank of Korea and the Korean Development Bank. Table 8.6 Growth of Domestic Traffic Passenger Traffic (in million) Railways Motor Vehicles Coastal Shipping T 0 T A L-a/ Passenger Passenger Passenger Passenger Passenger km Passer.vr k. Passenger km Passenger km 1962 loo.6 5,869 667.1 5,461 4.4 154 772.2 11499 1963 109.3 6,676 742.3 6,571 4U5 172 856.2 13,447 1964 118.5 7,353 935.4 6,459 5.9 195 1,060.0 14,o66 1965 107.2 6,917 1,195.5 7,975 5.5 182 1,308.5 15,146 1966 138.3 8,665 125!1.6 11,464 5.9 197 1,656.7 20,533 1967 152.0 9,577 1,674.8 11,599 6.7 223 1s833.9 21,586 1968 151.0 10,590 2,018.9 13,930 6.5 218 2,176.9 25,103 1969 b/ 172.0 11,364 2,305.0 14,947 7.9 261 2,485.2 26,648 Freight Traffic (Tonnage: million Million) Railways Motor Vehicles Coastal Shipping T 0 T A L Tonnage Tonnage Tonnage Tonnage Tonrage km Tonrage km Tonnage km Tonnage km 1962 17.9 3,977 16.9 388 2.0 196 36.8 4s561 1963 19.8 4k358 17.0 429 2.0 194 38.8 4U981 1964 20.3 4,522 18.7 511 2.2 213 41.2 5:246 1965 22.4 50,o44 24.0 503 2.8 263 49.2 5,810 1966 24.1 5,k449 24.5 558 2.7 672 51.3 6,680 1967 27.4 6,178 28.6 660 4.2 l,043 60.2 7,881 1968 28.9 6,865 46.1 1,065 5.6 1,401 80.6 9,331 1969b/ 33.7 7,554 50.2 1,165 7.6 2,136 91.5 10,851 a/ Including domestic aviation whose contribution is still very small. b/ Forecasts by Ministry of Transportation. Source: Ministry of Transportation. Table 8.7 Korean National Railroads Transportation Equipment and Revenues August End of Period 1964 1965 1966 1967 1968 1969 Total Length of Trackl/ (km) 4,780 4L,897 5,O49 5,103 5,209 5,360 Number of Engines in Fleet Steam 272 272 261 203 115 115 Diesel 125 125 173 252 252 282 Railcar 80 77 163 163 159 161 Passenger Car Stock (Number) 1,,422 1,390 1,L418 1,363 1,593 1,619 Freight Car Stock (Number) 10,764 10,587 l1,s54 12,617 13,239 13,842 Thereof 'Pank Cars (Number) 664 793 952 1,307 1,826 2O,104 Jan-Hlay Period 1964 1965 1966 1967 1968 1969 Revenue (In billion 'Ton) 9.84 12.86 15.46 19.48 25.27 (13.79) (Passenger Fares) (5.48) ( 7.19) (9.23) (11.86) (15.58) ( 8.71) (Freight Charges) (4.36) ( 5.67) (6. 24) ( 7.62) ( 9.69) ( 5.08) 1/ Including double track and sidings. Source: Korean lDational Railroad. Table 8.8 Number of Registered Automobiles Average Anrmal Rate of Increase June 1963-68 End of Period 1964 1965 1966 1967 1968 1969 (per cent) Cars 14,586 16,280 20,328 25,710 33,112 41,612 21.2 Trucks 1h951 16,015 19.,432 22,955 31,582 34,746 17.8 Buses 5,440 6,5037 8,062 9X024 12,786 13,424 20.6 i-icro.Buses 2,160 2,385 1,322 1,722 81o 886 -16.8 Special vehicles 678 794 1,016 1,286 2,611 2,892 35.6 Total: 37,815 41,511 50,160 60,697 80,901 93,560 18.8 Source: Ministry of Transportation. Table 8.9 Transportation by Major Comnodity (In thousand rnetric tons) Military Anthracite Oil Grains Fertilizer Cement Freight Others Total Railroads 1960 1O,O1 937 1,227 1,164 1,676 2,104 6,455 240,o64 9'7 11 i 37 1,335 1,328 1,189 2,223 2,272 7,856 27,440 1968 (Preliminary) 9,708 1,688 1,515 1,450 3,238 2,704 8,408 28,711 (Change 1966-1968 in %) -7.6 80.1 23.5 24.6 93.2 28.5 30.3 19.3 Highways %66 3,111 1,516 4,338 1,330 875 - 13,358 24,528 1967 4,193 1,521 4,538 1,416 1,210 - 15,738 28,616 1968 5,799 2,178 5,820 2,068 2,634 - 25,572 44,071 (Change 1966-1968 in %) 86.4 43.7 34.2 55.5 201.0 - 91.4 79.7 Marine 1966 1,135 567 58 45 33 - 838 2,686 1967 1,431 1,394 80 103 129 _ 1,036 4,173 1968 1,022 2,588 110 177 387 _ 1,187 5,471 (Change 1966-1968 in %) -10.0 356.4 89.7 293.3 1,072.7 _ 41.6 103.7 Total 1966 14,757 3,020 5,623 2,539 2,584 2,104 20,651 51,278 1967 16,861 4,250 5,946 2,708 3,o62 2,272 214,629 60,228 1968 16,529 6,454 7,445 3,695 6,259 2,704 35,167 78,253 (Change 1966-1968 in %) 12.0 113.7 32.4 45.5 142.2 28.5 70.3 52.6 Source: Ministry of Transportation. Table 9.1 Indices of Prices and Wages (1965-100) Sept. Sept. WeXqht 1966 1967 1968 1968 1969 A. Whol3*ale Price Index All Commodities 1000.0 108.8 115.8 125.2 125.4 134.8 Producer goods U0"7 ; . 110.9 e7 L 1 . 1 2 . Raw materials 224&J4 106.4 106.3 107.9 108.7 111.5 Bhiilding materials 76.2 112.8 114.9 125.4 126.7 130.7 Consumer goods 598.5 109.4I 119.1 130.9 130.6 143.9 Grainr 130.6 105.0 117.0 130.8 126.8 153.5 All Commodities excluding grains 869.4 109.4 135.7 a 125.2 132.0 B. Wholesale Price Index of Iugorted Goods All Commodities 1000.0 102.3 103.9 102.7 102. 18.6 Machinery and machine parts 10.67 10.6 I75R Fibers 62.4 88.7 86.7 86.9 86.9 86.6 Chemical products 459.4 104.4 104.0 101.0 101.0 102.8 Miscellaneous products 198.0 104.3 106.5 95.3 95.5 110.7 C. Index of Unit Value of Exports All Commodities - 1. 4.1 17.6 121.0 R).6 (Aug) D. Index of Daily Eamnings Manufacturing workers - 116.4 14.2 176.9 185.1 na E. All-urban Consumer Price Index All Items 1000.0 111.3 1234 136.7 136.9 (Aug) Food and beverages 527.5 167 192-. I 27.IT 114672 (A-ig) Source: Bank of Korea, Monthly Economng Statistics Table 9.2 Korean and Intle tman9l P il f oelted Prcoota (1968) Kare Ratio Dametic Korean/World Market Wholaa"lI Average World Prices Unit Price a/ Market b/ (World Marketl1O) I. Consumer Goods 195 Refined sugar KT 365.69 163.92 7F Wheat Flour 22 kg 2.58 1.67 155 Soy bean oil KIT 697.10 267.36 262 Nylon filament yarn g 3.994 2.81 TLO II. Intermediate Ooode Newsprint M/T 211.40 137.18 T* Printing paper VT 249.40 397.06 063 Craft paper V/T 291.87 157 .20 186 Polyester 1.47 1.59 092 Hydrochloria acid VT 123.86 Sulfuric acid X/T 67.35 66.18 102 Amonium, oondensed V/T 140a.67 90.12 156 Causti soda M/T 54.18 42.06 129 Potasaium Chloride V/T 455.13 Carbide M/T 138.17 90.00 151, Printing Ink Kg 1.69 0.95 178 Urea fertilizer MT 85.58 85.00 101 Fused Phosphate VIT 42.26 42.00 101 Gasoline Bbl 6.64 6.02 110 Lube oil D/1 32.18 33.74 095 III. Capital Goods g K) Cement Baga(42 Kg) o.65 Steel Ignots KIT 128.68 139.63 092 Billets K/T 118.12 78.75 150 Wire rods KIT 138.99 131.77 105 Bars and rods KIT 100.05 107.64 092 Steel wire K/T 360.21 314 .41 115 Bolts T 918.60 822.22 112 Copper plAte K5T i o 1 1,36- 143 Sewing mchines a 18.p3 12.0 147 Electric rmtors Ea 166.67 220.00 76 Radios Ba 21.77 16.02 136 Fans la 41.95 15.12 277 Flourescent lapss EA 0.42 0.38 111 Motor buses, diesel la 18,566.20 34,210.00 230 Bicycles a 42.49 14.36 296 IV. Total 146 a/ Domestic wholesale prices have bean converted into US dollars at the prevailing Bank of Korea exchanip rate E/ World market prices have bewn caloulated as an averae of US export pricee, Korean iqport prices of food from united souroe, and world market prices collected by the Seoul NationAl Unveraiit Sourceat Mission's oalculatione, based vadnI an the Anelyeie of Korea's lport Substitution Industries by the Seoul National University