In 2023, the personal remittances received in South Korea decreased by 0.2 billion U.S. dollars (-2.56 percent) since 2022. Nevertheless, the last two years recorded significant higher personal remittances received than the preceding years. A remittance is a non-commercial transfer of money by a nonresident worker, a member of a diaspora community, or a citizen with familial ties abroad, for household income in their home country. Workers’ remittances are a significant part of international capital flows, especially regarding labor-exporting countries.
Value of remittances received in South Korea from 2013 to 2023
(in billion U.S. dollars)
Characteristic
Remittances in billion U.S. dollars
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World Bank. (June 28, 2024). Value of remittances received in South Korea from 2013 to 2023 (in billion U.S. dollars) [Graph]. In Statista. Retrieved July 27, 2024, from https://www.statista.com/statistics/934026/south-korea-value-of-remittance/
World Bank. "Value of remittances received in South Korea from 2013 to 2023 (in billion U.S. dollars)." Chart. June 28, 2024. Statista. Accessed July 27, 2024. https://www.statista.com/statistics/934026/south-korea-value-of-remittance/
World Bank. (2024). Value of remittances received in South Korea from 2013 to 2023 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: July 27, 2024. https://www.statista.com/statistics/934026/south-korea-value-of-remittance/
World Bank. "Value of Remittances Received in South Korea from 2013 to 2023 (in Billion U.S. Dollars)." Statista, Statista Inc., 28 Jun 2024, https://www.statista.com/statistics/934026/south-korea-value-of-remittance/
World Bank, Value of remittances received in South Korea from 2013 to 2023 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/934026/south-korea-value-of-remittance/ (last visited July 27, 2024)
Value of remittances received in South Korea from 2013 to 2023 (in billion U.S. dollars) [Graph], World Bank, June 28, 2024. [Online]. Available: https://www.statista.com/statistics/934026/south-korea-value-of-remittance/