Statistics Korea

Overview

Survey Name

• National Balance Sheets

Survey Type

• Analytic Statistics

Type of Statistics

• Designated Statistics (Approval No. 920013)

Purpose

• To understand each economic unit and net assets (national wealth) by measuring the values of financial and non-financial assets and liabilities; to improve the levels of the measured net amounts in national income statistics including net production, net income, net savings, etc. through calculating consumption of fixed capital.

Frequency

• Annual

History

• Nov. 21, 1968: Approval for the production of statistics
  • National Wealth Survey: carried out in 1968, 1977, 1987 and 1997 (10 year cycle)
• Oct. 19, 2007: Approval for the changes in the statistical production
  • Decennial survey statistics ⇒ Annual analytic statistics
• Oct. 27, 2008: Approval for the changes in the statistical production
  • Changed the survey title: National Wealth Survey ⇒ National Wealth Statistics
• May 8, 2014: Approval for the changes in the statistical production
  • Statistics title (National Wealth Statistics ⇒ National Balance Sheets, survey organization (KOSTAT ⇒ KOSTAT and BOK); scope(non-financial assets⇒financial and non-financial assets and financial liabilities); implementation of the 2008 SNA and reflection of revised base year, etc.

Compilation Timing

• By asset: fixed assets and inventory assets (1970~); non-produced assets (1995~)
• By institutional sector: net capital stock (produced assets, 1970~; non-produced assets, 1995~), productive capital stock (1970~)
• By economic activity: net capital stock (1970~), productive capital stock (1970~)

Assets subject to Projection

• Produced assets: construction assets, facilities assets, intellectual property products, inventories
• Non-produced assets: land assets, underground resources, timber assets
• Financial assets and financial liabilities: cash currency and deposits, insurance and pension, etc.

Compilation Process

• Collect base data such as gross fixed capital formation, officially assessed land price, stumpage price and area, etc.
• Estimate projection parameters and related functions such as life of duration, abandonment model and age-price function
• Estimate assets by applying integral capital measurement method, price and quantity method and net present value method

Data Provision

Method of Publication and URL

• Press releases, data loading on websites (KOSTAT (https://kostat.go.kr) and BOK)
• KOSTAT's KOSIS (http://kosis.kr), and BOK's ECOS

Publication Frequency

• Annual

Publication Title

• Replaced by press releases