2012. 3 2 0 1 1 m.bok.or.kr ISSN 1975-4922 2011 2012. 3
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2008 28 22 6 9 78 21 136 2009 28 24 4 7 69 17 121 2010 26 24 2-82 18 126 2011 31 24 7-114 16 161 6
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2007 2008 2009 2010 2011 5.4 2.8-0.7 5.2 3.8 2.8 0.1-3.7 3.2 1.6 1.9-0.3-3.5 3.0 1.7 2.9 0.4-4.2 1.9 1.4 2.2-1.0-5.5 4.4-0.7 8.9 6.0 2.8 7.3 6.2 11.5 7.7 7.2 9.5 7.9 14.2 9.6 9.2 10.4 9.2 5.8 4.3-1.7 6.1 4.6 5.5 5.8 8.0 8.3 7.9 3) 4.6 5.8 9.3 9.6 9.0 7.6 7.7 9.6 10.1 10.2 3.9 4.0 5.1 5.1 4.6 15
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10 8 6 4 2 0-2 -4 10 8 6 4 2 0-2 -4 2007 2008 2009 2010 2011 7.7 3.0-10.7 12.7 2) 6.9 2) 2.4-2.7-13.6 12.5 4.6 6.0 0.8-12.0 8.9 5.6 8.4 1.6-23.9 23.9-0.9 18.1 8.5-10.3 24.2 15.6-710 -677-377 -471-468 20-99 13 35 17 211 157 142 196 147 354 412 261 305 361 17
160 220 140 200 120 100 80 60 40 20 0 180 160 140 120 100 80 60 2011 2010 6.3 3.6 1.3 (4.2) 0.8 (3.5) 0.8 (3.6) 0.3 (3.3) 4.1 2.2 0.6 ( 2.6) 0.8 (2.7) 0.4 (2.3) -0.5 (1.3) 5.8-1.1-3.1 (-2.1) 3.8 (0.7) -0.8(-1.5) -1.5(-1.8) 2.5 0.8 1.0 (-0.1) -0.1 (0.9) -0.2 (0.5) 0.8 (1.7) 14.7 9.5 2.8(17.0) 0.8 (8.5) 3.1 (9.6) -2.3 (4.4) 17.3 6.5 1.4(10.8) 1.9 (7.9) 1.3 (6.2) -3.0 (1.6) 5.6 1.5 0.0 (1.9) 0.7 (0.6) 0.6 (1.2) 1.0 (2.2) 18
2011 2010 4.1 2.2 0.6(2.6) 0.8(2.7) 0.4 (2.3) -0.5 (1.3) 4.4 2.3 0.6(2.9) 0.8(3.0) 0.2 (2.1) -0.4 (1.1) 2.9 2.1 0.7(1.4) 0.8(1.8) 1.2 (3.3) -0.8 (1.8) 2011 2010 5.8-1.1-3.1 (-2.1) 3.8 (0.7) -0.8(-1.5) -1.5(-1.8) -3.7-5.0-4.4(-11.0) 3.5(-4.2) -0.5(-4.0) 0.1(-2.1) 25.7 3.7-1.6 (10.3) 4.7 (7.7) -1.8 (1.2) -4.3(-3.3) 19
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2010 2011-4.4 [ 2.6] -2.0 [ 2.7] -3.0 4.5-5.2 8.2-8.5 [ 0.2] -4.6 [ 0.2] -16.9 16.8 3.7-9.2 14.7 [30.3] 7.2 [31.2] 3.3 1.2 1.1-0.3 4.3 [ 2.0] 2.9 [ 2.0] 0.1 0.7 0.5 4.2-2.7 [ 6.3] -4.6 [ 5.9] -4.3 1.8 2.8-0.2 3.9 [58.5] 2.6 [58.1] 1.0 0.3 0.4 0.7 6.3 3.6 1.3 0.8 0.8 0.3 2010 2011 14.7 7.2 3.3 1.2 1.1-0.3 0.1 2.2 0.2-0.3 0.5-0.7 5.9 1.1 1.3-0.8-1.6-0.4 4.4-2.3-2.8-3.1-0.7-0.9 9.8 4.3 1.9-0.6 0.9 0.2 5.0-1.9 1.8-0.9-3.8 4.2 16.1 9.6 6.8 0.8 2.9 1.4 25.6 14.6 1.3 11.8-2.3-3.9 27.1 6.5 4.5-1.7-0.3 2.4 6.9 10.9 4.8 3.7 5.0-4.6 5.1 5.1 2.3 1.5-0.4-4.1 80.9 80.0 82.2 79.9 79.6 78.1 2010 2011 3.9 2.6 1.0 0.3 0.4 0.7 7.1 4.6 1.4 1.0 0.1 1.3 10.3 3.8 1.6 0.4 0.2 0.6 2.4 1.6 0.3-1.2 0.4 2.2 1.3 2.2 3.3-0.4-0.3-1.0 3.9 5.5 2.3 0.6 1.4 0.9 3.1 1.0-1.7 1.4 1.4 1.3 1.6 1.2 0.1 0.4 0.5 0.5 1.2 0.2 0.4-0.7-0.3-0.3 6.8 4.6 2.3 1.1 0.4 1.0 2.1 1.7-1.1 0.2 1.2 1.3 2.6 1.1-0.4 0.4 0.8-0.4 21
100 80 60 40 20 0 100 80 60 40 20 0 2010 2011 2,475 2,510 2,449 2,544 2,527 2,520 1.5 1.4 1.3 1.6 1.1 1.6 61.0 61.1 59.9 62.0 61.5 61.1 2,383 2,424 2,346 2,457 2,448 2,446 1.4 1.7 1.8 1.7 1.5 2.0 32.3 41.5 42.3 40.2 36.3 47.4 39.5 42.4 42.3 43.6 35.3 48.5-8.2-2.5-2.8 0.3-5.1-2.3 19.0 5.9 22.9 10.8-1.9-8.1 19.1 6.3 22.8 11.2-1.2-7.5 3.3-0.2-0.3-4.2-3.5 7.1 20.0 38.6 22.5 33.4 47.2 51.4-2.0 5.8-1.0 4.3 8.3 11.6-4.7-3.6-5.2-4.6-2.9-1.6 15.5 15.8 20.0 19.3 12.5 11.5 7.8 6.4 8.8 9.7 3.8 3.3-7.1-0.9 0.0-3.4 1.0-1.1-19.4-1.1-9.6-1.9-2.9 10.0-11.8 0.1-11.5-3.9 3.4 12.5-7.6-1.2 1.9 2.1-6.3-2.5 51.7 42.7 51.9 42.1 39.2 37.4 69.7 57.5 60.5 62.1 57.2 50.0-3.4-7.8-8.8-13.7-7.6-1.0-14.6-7.0 0.2-6.3-10.4-11.5 92.0 85.5 102.8 86.5 78.6 74.0 3.7 3.4 4.2 3.4 3.1 2.9 8.0 7.6 8.8 7.9 6.7 7.1 - - 3.9 3.4 3.2 3.1 58.7 59.1 57.4 59.9 59.5 59.4 - - 58.8 59.2 59.1 59.2 22
2010 2011 6.8 1.0 0.2 1.4 0.6 1.5 3.8-2.9-3.5-2.5-3.5-2.4 6.4-0.9-1.3-1.2-1.1-0.3 4.5 4.8 4.4 4.2 5.0 5.4 12.2-8.4-8.4-7.4-7.1-10.7 12.3-19.3-18.9-23.5-18.5-17.4-1.6 15.1 9.2 12.3 15.8 21.9 7.3 10.3 10.7 16.0 4.5 10.2 9.1 1.6 1.9 1.1 1.6 1.7 7.0 0.5 0.9-4.0 3.3 1.7 7.9 12.2 8.4 17.1 12.7 10.2 7.1 6.3 1.4 7.6 6.6 9.6 5.4 0.5-0.5 1.3-1.7 3.4 5.0 13.0 11.7 14.6 12.8 12.9 4.7 9.1 10.2 11.0 7.0 8.3 4.7 1.9 0.0 1.7 4.0 2.3 4.3 2.6 4.6-3.5 4.5 5.4 6.9-2.2-3.2-2.1-2.0-1.9 8.2-8.0-9.0-8.7-7.2-7.9 1.4-5.4-5.2-6.4-6.2-4.6 2.4-4.0-4.8-4.9-5.4-0.6 0.9 1.1 2.5-0.1 2.9-0.9 6.5 1.2 0.7 0.9-0.3 3.4 4.3 1.8 2.7 1.2 0.5 2.8 2.0-0.6-2.0-0.3-0.8 0.5 23
7 6 5 4 3 2 1 0 7 6 5 4 3 2 1 0 24
2010 2011 1000.0 3.0 4.0 3.8 4.0 4.3 4.0 (3.0) (4.2) (2.3) (0.5) (1.1) (0.3) 77.610.0 9.2 16.0 9.1 9.5 2.8 (14.8) (5.8) (7.1) (-4.4) (7.1) (-3.4) 317.7 3.2 4.9 3.8 4.6 5.5 5.8 (2.6) (5.3) (2.6) (1.0) (0.9) (0.9) 53.5 9.2 13.6 12.7 12.6 14.7 14.5 (8.2) (11.0) (9.7) (-1.1) (2.1) (0.1) 48.3-4.8 3.2 4.4 4.6 6.8 - (7.6) (2.0) (1.9) (1.2) (2.3) 556.4 1.9 2.7 2.3 2.8 2.9 2.7 (1.9) (2.8) (1.4) (0.7) (0.3) (0.4) 91.8 1.9 4.0 2.7 3.7 4.4 5.0 (2.4) (5.0) (1.2) (1.5) (1.1) (1.2) 143.7 1.2-0.4 0.1-0.4-0.5-1.0 (0.6) (-0.8) (-0.5) (0.0) (-0.3) (0.0) 320.9 2.2 3.7 3.2 3.9 3.9 3.8 (2.2) (3.8) (2.4) (0.7) (0.5) (0.2) 891.6 1.8 3.2 2.6 3.2 3.4 3.4 (1.7) (3.6) (1.7) (1.0) (0.3) (0.6) 767.8 1.9 2.6 2.2 2.6 2.7 2.7 (1.7) (2.7) (1.2) (0.8) (0.3) (0.4) 2010 2011 1000.0 3.8 6.1 6.7 6.4 6.2 5.0 (5.3) (1.3) (7.3) (6.2) (5.7) (4.3) 43.6 9.0 7.4 21.0 6.7 5.1-2.1 (21.1) (-2.2) (16.2) (9.4) (-7.1) (-0.2) 644.8 4.2 7.7 7.9 8.2 8.1 6.7 (6.0) (2.0) (9.1) (7.7) (8.2) (5.3) 44.5 4.0 5.8 3.3 4.6 5.7 9.5 (1.5) (0.1) (3.2) (5.1) (5.0)(12.0) 264.4 1.7 1.8 1.9 2.2 1.9 1.3 (1.9) (0.5) (2.1) (2.1) (1.6) (1.1) 25
2010 2011-2.6 4.4 6.6 3.4 2.1 5.6 (-4.3) (5.8) (9.1) (-0.4) (5.8) (2.5) 5.3 13.4 16.9 14.2 11.3 11.5 (-12.7) (4.8) (19.6) (10.5) (14.0) (7.1) 2008 2009 2010 2011 3.1 1.5 1.9 6.9 2.3 2.0 1.5 1.0 5.0 1.2-1.7 0.5 0.7 0.1-0.1-0.2 0.6 2.0 6.4 15.1 4.2 4.6 3.3 2.2 1.7 3.4 7.1 12.3 4.3 2.7 3.3 1.5 1.7 4.2 6.3 11.0 4.4 1.8 3.5 0.8 1.0 2.9 9.2 14.5 4.4 4.1 3.1 2.1-0.3 1.0 1.0 1.2 0.3 0.3 0.3 0.3 26
-1 6.0 5.0 4.0 3.0 2.0 1.0 489 43 21 32 2 (5725) (24) 481 6.0 5.0 4.0 3.0 2.0 1.0 27
500 500 400 400 300 200 100 0-100 300 200 100 0-100 -200-200 2009 2010 2011p (A) (B) (B-A) 327.9 293.9 265.1-28.9 378.7 400.8 309.5-91.3 3,581.9 4,614.4 5,525.6 911.2 3,203.2 4,213.6 5,216.4 1,002.8-66.4-86.3-43.8 42.5 22.8 10.2 24.6 14.4-7.1-30.8-25.2 5.6 28
2010 2011 26.0 <27.1> -1.3 <22.5> 29.2 <72.9> 26.6 <77.5> -12.6 <5.6> -1.2 <4.6> 61.2 <11.0> -1.1 <9.2> 28.1 <6.3> -7.9 <4.9> 17.1 <1.8> 0.8 <1.5> 46.5 <11.7> 25.8 <12.3> 29.6 <10.2> 24.3 <10.6> 10.0 <10.1> 15.9 <9.8> 26.0 <8.1> 29.2 <8.8> 37.4 <6.8> 63.1 <9.4> 34.8 <8.0> 27.2 <8.6> 19.2 <2.7> 13.0 <2.5> 28.3 [4,664] 19.0 [5,552] 2010 2011 34.1 <58.1> 31.4 <61.9> 35.3 <16.1> 46.8 <19.2> 31.2 <8.9> 17.3 <8.4> 26.7 <6.4> 11.1 <5.8> 27.1 <5.1> 38.5 <5.8> 29.8 <31.9> 8.0 <27.9> 22.6 <17.2> 9.2 <15.3> 17.5 <7.5> 4.2 <6.4> 61.5 <0.7> 58.2 <0.9> 41.8 <11.2> 6.0 <9.6> 30.7 <2.3> 16.2 <2.2> 182.0 <2.4> -4.4 <1.9> 34.6 <3.0> 8.3 <2.7> 23.9 <9.9> 25.7 <10.1> 25.6 <3.8> 14.7 <3.5> 29.5 <2.2> 31.6 <2.3> 11.8 <1.4> 26.8 <1.4> 32.4 <60.0> 23.6 <60.1> 30.4 <40.0> 22.9 <39.9> 31.6 [4,252] 23.3 [5,244] 29
2008 2009 2010 2011-63.0-46.7-119.2-87.0 80.1 86.1 94.1 116.4-327.0-276.6-361.2-286.4 183.9 143.8 147.9 83.0-69.7 451.2 530.9 395.0 144.6 324.6 452.6 477.5 267.3 247.5 336.3 508.5 195.1 151.2 215.4 199.7-750.0-375.7-524.5-863.3-132.7 404.5 411.7 308.0 2008 2009 2010 2011-57.3-66.4-86.3-43.8 80.0 52.4 93.1 92.6-92.9-52.2-84.2-71.6 110.8 117.5 96.8 120.9-155.2-184.1-191.9-185.7-32.7-39.9-58.9-29.8-142.8-150.1-135.9-169.2 20.3 5.8 2.9 13.3 30
2008 2009 2010 2011 44.4 22.8 10.2 24.6 1.9-0.5-3.7-4.9 42.5 23.3 13.8 29.5 209.1 139.2 156.4 167.4 51.4 26.5 37.6 43.3 157.7 112.7 118.8 124.0 166.6 115.9 142.6 137.9 82.6 52.1 76.2 75.5 84.0 63.8 66.4 62.3-6.7-7.1-30.8-25.2 140.7 127.0 134.2 153.5 147.4 134.1 165.0 178.7 2008 2009 2010 2011-11.5-346.5-274.8-319.7 (-576.0) (340.2) (-5.1) (-180.5) 1.1 2.9-2.2 1.5-12.6-349.4-272.6-321.2 (-577.1) (337.3) (-2.9) (-182.0) -169.4-149.5-221.8-156.9-202.5-172.0-232.8-203.6 33.1 22.5 10.9 46.6-24.1 497.3 424.8 103.1 234.8 14.4-11.9-52.3-258.9 482.9 436.7 155.4-147.7-30.9 8.3-17.4 549.8 748.5 494.8 499.7-697.5-779.4-486.5-517.0-235.9 20.4-214.1-110.9-137.4 16.9-159.8-236.2-98.5 3.5-54.3 125.3 564.5-686.7-269.7-139.1 31
2009 2010 2011p (C) (D) (D-C) 3,457 3,594 3,824 3,992 3,956 3,984 390 <41.1> <35.4> <35.7> 1,492 1,398 1,536 1,539 1,399 1,361-36 (43.2) (38.9) (40.2) (38.5) (35.4) (34.2) - 1,965 2,197 2,288 2,454 2,557 2,622 426 (56.8) (61.1) (59.8) (61.5) (64.6) (65.8) - 4,147 4,510 4,695 4,864 4,920 5,016 506 2,700 2,916 2,986 3,045 3,034 3,064 148 (B-A) 690 916 871 872 964 1,032 116 32
2009 2010 2011 0.05 0.12 0.09 0.01 0.02 0.01 0.36 0.40 0.80 1.18 0.38-0.06 0.13 0.12 0.11 0.10 0.10 0.10 3.84 3.29 3.47 3.16 1.92 1.88 3.39 2.96 3.35 3.03 1.89 1.83 5.77 12.47 12.84 16.34 22.69 34.96 4.14 4.82 4.82 4.88 5.54 7.11 1.30 1.13 1.26 1.14 1.03 0.99 648 590 521 600 843 716 312 412 209 201 810 967 258 201 206 212 374 307 294 289 299 288 465 426 33
200 160 120 80 40 0 200 160 120 80 40 0 34
140 2.0 120 100 80 60 1.5 1.0 0.5 7 6 5 4 3 2 1 0-1 7 6 5 4 3 2 1 0-1 35
3.0 2.5 2.0 7.0 6.5 6.0 8 7 6 800 700 600 1.5 5.5 5 500 1.0 5.0 4 400 0.5 4.5 3 2 300 200 0.0 4.0 1 100 0 0 36
2009 2010 2011 5.81 5.40 5.78 5.80 5.86 5.76 5.69 5.79 5.52 5.96 5.89 5.98 5.87 5.81 5.95 5.08 5.41 5.47 5.46 5.66 5.37 3.70 3.32 3.67 3.70 3.79 3.71 3.77 2.11 2.08 2.11 2.10 2.07 2.05 1.92 20 20 2,300 600 16 16 2,100 550 12 12 1,900 500 8 8 1,700 450 4 4 0 0 1,500 400 37
100 100 8 32 80 80 4 31 60 60 0 40 40-4 30 20 20 0 0-8 29 38
8 4 0-4 8 4 0-4 -8-8 100 80 100 80 60 60 40 20 0 40 20 0-20 -20 2011 2010 60,354 104,633 23,059 27,408 2,412 51,754 43,039 24,385 6,286 9,828 3,464 4,807 103,393 129,018 29,345 37,236 5,876 56,561-40 -40 39
30 25 20 15 10 5 0 30 2010 2011 63.8 41.0 6.5 15.5 12.2 6.7 17.7 8.8 1.1 5.8 4.0-2.0 25 20 15 10 5 0 2010 2011 34.0 62.5 9.0 18.1 21.0 14.4 3.2 8.0 1.3 2.0-1.8 6.5 119.5 65.9 15.5 15.7 20.9 13.8 101.1 60.8 18.0 20.0 22.3 0.6-84.7-19.4-10.6 0.6-3.2-6.2-16.7-16.6-13.1-1.0 8.1-10.6-4.8-13.8-6.4-6.7 2.5-3.2-25.2 3.2 0.3 0.1 2.4 0.4 6.5-7.7-7.1 2.6-1.1-2.1 20.1 30.1 13.8-0.5 13.3 3.5 1.9 3.7 1.9 0.0 3.1-1.3 6.2 11.1 4.2 2.8 1.9 2.2 3.5-13.8-3.6-2.1-4.4-3.7 38.2 14.8 1.1 3.7 5.3 4.7 40
2010 2011 33.6 76.0 21.2 20.5 23.4 10.9 14.0 29.8 6.0 7.6 9.6 6.5-2.8 13.8 8.7 3.1 5.2-3.1 5.9 13.0 1.5 2.6 4.6 4.2 22.0 24.4 3.7 9.2 5.4 6.2-1.5-10.9-1.4-4.6-2.4-2.4 37.7 36.2 7.1 8.6 7.7 12.8 11.4 12.2 0.9 3.5 2.9 4.9 2.0 6.4 0.6 0.5 3.0 2.3 41
30 25 14.0 12.0 20 400 20 10.0 15 8.0 10 200 10 6.0 5 4.0 0 0 0 2.0-5 0.0-10 -200 42
0.08 0.06 0.04 0.02 400 300 200 100 0 7,000 6,000 5,000 4,000 0 100 80 60 3.0 2.5 2.0 1.5 1.0 0.5 140 120 100 80 3,000 40 0.0 60 2,000 1,000 20 0 0 43
20 15 10 5 20 15 10 5 0 0 1,600 1,500 1,600 1,500 1,400 1,300 1,200 1,100 1,000 900 1,400 1,300 1,200 1,100 1,000 900 44
2.0 1.5 1.0 0.5 0.0 2.0 1.5 1.0 0.5 0.0 4 4 3 3 2 2 1 0-1 1 0-1 45
300 250 200 150 100 50 0 300 250 200 150 100 50 0 46
6 5 4 3 2 1 0 6 5 4 3 2 1 0 49
-1 8 8 5.0 4.5 5.0 4.5 6 6 4.0 4.0 3.5 3.5 4 4 2 2 3.0 3.0 0 0 50
6 5 4 6 5 4 500 400 300 200 100 200 150 100 50 3 3 0 0 2 2 1 0 1 0 51
2009 2010 2011 7.5 (5.0) 1.0 (0.6) 0.0 0.0 (0.0) 1.0 (0.7) 0.0 (0.0) 0.0 0.0 (0.0) 15.9 (10.6) 11.9 (7.3) 13.5 14.4 (8.7) 1.6 (1.1) 4.8 (3.0) 5.3 5.9 (3.6) 26.0 (17.4) 17.8 (10.9) 18.8 20.3 (12.3) 6.8 (4.5) 1.0 (0.6) 0.0 0.0 (0.0) 3.4 (2.3) 0.0 (0.0) 0.0 0.0 (0.0) 9.3 (6.2) 22.4 (13.7) 24.3 27.5 (16.7) 4.8 (3.2) 4.3 (2.6) 4.5 4.0 (2.4) 99.0 (66.3) 118.1 (72.2) 119.4 113.0 (68.6) 123.2 (82.6) 145.8 (89.1) 148.2 144.5 (87.7) 149.2 (100.0) 163.5 (100.0) 167.0 164.8 (100.0) 2009 2010 2011 10.5 10.9 11.8 11.8 13.3 12.0 10.3 13.3 12.7 13.1 13.5 14.8 13.2 10.9 2.8 1.8 1.3 1.7 1.5 1.2 0.6-1.7 3.3 2.3 2.9 3.9 3.9 52
2008.10 2008.11 2009.3 2010.7 2011.1 6.5 9.0 10.0 8.5 7.5 1.5 4.0 5.0 3.5 2.5 1.5 3.0 3.0 1.5 1.5-1.0 2.0 2.0 1.0 4.9 4.9 4.9 4.9 4.9 0.1 0.1 0.1 0.1 0.1 3.5 1.5 1.0 1.0 3.3 0.5 2.3 0.5 2.1 0.4 1) 1.7-1,991.0 1,669.6 1,823.6 1,925.3 1,850.9 1,743.9 (769.7) (615.2) (686.3) (668.6) (667.9) (665.7) 53
54
55
56
2008 2009 2010 2011 2008 2009 2010 2011 2008 2009 2010 2011 3 4 6 6 1(9) 1(7) 1(5) 2(2) - 1 1 1-1 1 1 1(1) - - - 1 1 - - 3 5 7 7 2(10) 1(7) 1(5) 2(2) 1 2 1 1 57
58
2010.10.9 2011.7.1 59
60
38,256.0 32,979.3 5,276.7 46,557.7(12.8) 17,269.5 10,305.4 6,964.1 25,960.3(36.7) 19,895.2 21,660.2-1,765.0 18,247.2 (-8.8) 519.5 489.5 30.0 1,046.7 (3.0) 571.9 524.2 47.7 1,303.5 (3.8) 92.7 19.0 73.7 2,099.8 (3.6) 38,348.7 32,998.3 5,350.4 48,657.6(12.4) 95.6 16.4 95.9 16.0 0.3-0.4 44.0 1.6 53.5 2.1 9.5 0.5 46.3 8.6 37.6 7.6-8.7-1.0 2.4 0.9 2.2 0.9-0.2 0.0 2.9 5.3 2.7 5.4-0.2 0.1 4.4 83.6 4.1 84.0-0.3 0.4 2.2 8.2 2.1 8.3-0.1 0.1 1.8 34.1 1.7 34.3-0.1 0.2 0.2 8.2 0.2 8.1 0.0-0.1 0.2 29.8 0.1 30.1-0.1 0.3 0.0 0.9 0.0 0.9 0.0 0.0 0.0 2.4 0.0 2.3 0.0-0.1 100.0 100.0 100.0 100.0 - - 61
25,000 20,000 15,000 25,000 20,000 15,000 2010 2011 2010 2011 500.0 410.0 1,740.0 6,780.0 (-49.5) (-18.0) (-92.4) (289.7) 680.1 830.1 89.3 117.7 (17.2) (22.1) (94.1) (31.8) 1,180.1 1,240.1 1,829.3 6,897.7 (-24.8) (5.1) (-92.0) (277.1) 10,000 5,000 0 10,000 5,000 0 62
63
-2 28.0 26.6 61.6 40.0 65.0 100 64
250 250 200 200 150 150 100 100 50 50 0 0 65
66
67
68
69
70
2009 2010(A) 2011(B) (B-A) 269,995 291,571 306,402 14,831 265,202 286,926 298,233 11,307 982 1,025 2,556 1,531 79 80 2,167 2,087 3,732 3,540 3,447-93 71
72
2009 2010(A) 2011(B) (B-A) 1.9 3.2 4.5 1.3 84.0 82.5 79.7-2.8 14.1 14.3 15.8 1.5 63.1 63.7 60.5-3.2 36.9 36.3 39.5 3.2 4.0 6.0 6.6 0.6 38.1 35.8 36.8 1.0 22.3 21.8 20.1-1.7 15.1 16.5 14.1-2.4 17.4 16.1 17.0 0.8 3.1 3.8 5.4 1.6 100.0 100.0 100.0-73
74
75
6 14 9 5 8 10 24 87 1 24 8 5 2 552,143 632,452 80,309 413,548 479,502 65,954 82,334 90,339 8,005 12,219 15,575 3,356 1,007 1,234 227 20,139 22,906 2,767 22,896 22,896 0 66,140 70,381 4,241 7,206 7,223 17-150 150 35,284 38,423 3,139 10,000 10,100 100 4,333 5,166 833 25 27 2 9,292 9,292 0 618,283 702,833 84,550 76
77
-3 78
-4 79
80
81
82
83
84
2010 2011 2010 2011 35,877.4 38,412.5 842.3 2,535.1 32,348.7 35,512.7 1,808.6 3,164.0 3,528.7 2,899.8-966.3-628.9 84,040.4 90,271.3 8,536.1 6,230.9 119,917.8 128,683.8 9,378.4 8,766.0 2010 2011 2010 2011 7,936.2 7,399.5-1,869.6-536.7 2,793.6 493.6-503.0-2,300.0 10,729.8 7,893.2-2,372.6-2,836.7 85
6,230.0 928,116.8 926,988.3 1,128.5 7,358.5 2010(A) 2011(B) (B-A) 7,448 7,613 165 9,224 9,520 296 16,672 17,133 461 0.0 8,000.0 8,000.0 0.0 0.0 4,700.0 4,700.0 0.0 1,117.2 1,117.2 1,117.2 1,117.2 2010(A) 2011(B) (B-A) 32,300.0 27,000.0-5,300.0 163,530.0 197,140.0 195,910.0 1,230.0 164,760.0 86
310,076.7 81,306.1 51,322.0 29,984.1 340,060.8 11,680.0 2,000.0 7,680.0 2,000.0-11,680.0-6,680.0 5,000.0-2009 2010(A) 2011(B) (B-A) 46,290.0 44,589.0 50,787.4 6,198.4 (16.5) (14.4) (14.9) (0.5) 102,649.0 104,017.0 97,388.3-6,628.7 (36.5) (33.5) (28.6) (-4.9) 108,362.1 126,768.2 145,013.1 18,244.9 (38.6) (40.9) (42.6) (1.7) 1,774.0 2,941.0 4,062.0 1,121.0 (0.6) (0.9) (1.2) (0.3) 23,552.2 34,702.5 46,872.0 12,169.5 (8.4) (11.2) (13.8) (2.6) 280,853.3 310,076.7 340,060.8 29,984.1 (100.0) (100.0) (100.0) (100.0) 87
108,045.9 2,778.8 919.4 3,592.0 155.3 88
89
2009 2010 2011 1,854 2,143 1,408 852 619 768 2,706 2,762 2,176 90
91
95
383,187.6 456,340.9 73,153.3 374,389.1 446,432.6 72,043.5 90.7 2,498.8 2,408.1 4,031.7 3,975.1-56.6 320,021.1 333,481.4 13,460.3 24,524.9 26,130.1 1,605.2 10,729.8 7,893.2-2,836.6 1,695.6 0.0-1,695.6 1,117.2 1,117.2 0.0 12,178.1 71,336.8 59,158.7 8,798.5 9,908.3 1,109.8 383,187.6 456,340.9 73,153.3 374,629.7 446,711.2 72,081.5 374,039.2 445,468.9 71,429.7 43,307.2 48,657.6 5,350.4 163,538.4 164,792.3 1,253.9 1,000.0 4,000.0 3,000.0 6,230.0 7,358.5 1,128.5 118,917.8 124,683.8 5,766.0 11,552.9 7,125.0-4,427.9 4,217.2 4,243.9 26.7 25,275.7 84,607.8 59,332.1 590.5 1,242.3 651.8 8,557.9 9,629.7 1,071.8 2,119.4 2,470.8 351.4 2,925.2 4,023.9 1,098.7 3,513.3 3,135.0-378.3 (3,513.3) (3,135.0) (-378.3) 96
97
16,435.9 18,338.5 1,902.6 12,538.5 12,391.5-147.0 11,077.5 10,793.9-283.6 127.2 110.1-17.1 0.2 0.1-0.1 279.4 234.0-45.4 0.0 0.0 0.0 0.1 0.3 0.2 41.2 39.7-1.5 51.3 12.2-39.1 0.0 0.9 0.9 961.6 1,200.3 238.7 102.4 126.7 24.3 3,683.7 5,311.8 1,628.1 111.3 508.5 397.2 0.0 0.0 0.0 11,875.7 14,308.9 2,433.2 9,086.1 9,820.1 734.0 1,496.6 1,284.3-212.3 8.6 104.1 95.5 6,009.8 6,107.2 97.4 304.6 415.0 110.4 1,266.5 1,909.5 643.0 326.5 275.0-51.5 1,946.3 3,589.3 1,643.0 17.2 78.8 61.6 0.0 0.0 0 157.5 186.7 29.2 305.5 315.0 9.5 36.6 44.0 7.4 4,560.2 4,029.6-530.6 43.7 111.5 67.8 48.5 13.3-35.2 4,555.4 4,127.8-427.6 1,042.1 992.8-49.3 3,513.3 3,135.0-378.3 98
99
92 88-4 161 160-1 364 369 +5 1,764 1,743-21 2,381 2,360-21 2010 2011 100
S.Gerlach, 25(-) L.Christiano M.Obstfeld, 30(10) P.Montiel J.Cuddington 27(-) Hyun Song Shin, 28(8) Alistair Milne 110(18) 101
90 80 70 60 50 40 30 20 90 80 70 60 50 40 30 20 10 0 10 0 2007 2008 2009 2010 2011 17 17 6 9 10 102
103
109
8 6 4 2 0 110
0.2 6.1 3.8 5.0 4.5 2.8 2.9 3.7 3.3 3.5 111
112
113
114
115
116
117
118
119
120
121
122
8 6 4 2 0 123
6.2 3.8 3.4 3.8 3.7 3.0 4.0 3.5 3.1 3.3 124
125
126
150,000 2012.1.15 1 20,000 2012.9.30 100,000 2011.12.31 270,000 127
128
129
130
131
132
133
446,432,616,025,928 374,389,178,471,507 23,500,258 8,749,812 2,498,780,836,661 90,709,073,454 3,975,095,494,009 4,031,693,828,458 333,481,397,544,461 320,021,097,258,466 14,404,525,241,486 13,639,499,050,486 0 0 319,076,872,302,975 306,381,598,207,980 26,130,064,132,939 24,524,876,264,689 3,237,583,748,527 2,299,048,569,562 22,892,480,384,412 22,225,827,695,127 0 0 0 0 0 0 7,893,175,000,000 10,729,831,000,000 0 0 0 1,695,600,000,000 1,117,200,000,000 1,117,200,000,000 799,196,528,000 0 250,920,559,047 400,645,728,762 806,856,876,280 1,305,287,560,220 0 0 69,479,905,554,273 10,472,229,007,646 9,908,257,233,445 8,798,453,830,357 9,447,583,504,530 8,355,321,513,190 8,315,598,219,035 7,856,986,744,294 1,124,635,451,049 490,984,817,118 92,415,063 98,900,995 7,257,419,383 7,251,050,783 455,904,239,993 437,633,431,545 4,769,488,922 5,498,885,622 456,340,873,259,373 383,187,632,301,864 134
445,468,894,892,655 374,039,202,101,285 48,657,565,179,254 43,307,163,212,016 164,792,320,689,777 163,538,411,257,294 4,000,000,000,000 1,000,000,000,000 7,358,486,711,034 6,229,977,557,206 124,683,757,489,390 118,917,753,846,135 31,499,411,835,290 31,244,392,752,433 0 0 21,700,000,000 112,700,000,000 2,891,385,513,555 3,520,303,540,972 90,271,260,140,545 84,040,357,552,730 0 0 7,125,048,730,147 11,552,863,023,141 4,243,869,864,812 4,217,252,656,182 0 0 84,607,846,228,241 25,275,780,549,311 1,242,296,793,511 590,487,037,908 0 0 117,661,342,462 99,502,220,790 1,124,635,451,049 490,984,817,118 446,711,191,686,166 374,629,689,139,193 9,629,681,573,207 8,557,943,162,671 9,629,681,573,207 8,557,943,162,671 2,470,792,709,375 2,119,466,108,690 4,023,850,453,296 2,925,211,047,127 3,135,038,410,536 3,513,266,006,854 9,629,681,573,207 8,557,943,162,671 456,340,873,259,373 383,187,632,301,864 135
18,338,518,996,049 16,435,926,108,179 12,391,465,054,965 12,538,523,205,822 10,793,920,357,488 11,077,495,755,047 110,088,628,250 127,235,324,554 34,975,549 141,629,611 0 0 233,941,816,082 279,425,760,924 0 0 320,546,728 146,519,856 39,724,127,991 41,174,364,652 12,221,428,590 51,311,454,600 895,308,007 0 1,200,317,866,280 961,592,396,578 126,709,845,610 102,418,074,987 5,311,799,360,009 3,683,693,848,958 0 0 508,544,735,465 111,290,978,412 0 0 14,308,920,382,745 11,875,737,966,941 9,820,158,736,534 9,086,127,300,398 1,284,344,660,354 1,496,640,112,355 104,097,084,807 8,592,427,366 6,107,192,981,546 6,009,779,055,344 414,973,364,626 304,620,716,257 0 0 1,909,550,645,201 1,266,494,989,076 275,013,130,190 326,424,924,038 3,589,251,820,880 1,946,304,619,363 78,797,033,189 17,204,489,322 136
0 0 0 0 186,745,454,617 157,460,800,276 25,278,621,410 16,886,140,160 15,393,264,007 15,620,351,261 3,269,586,963 4,246,039,097 315,012,734,955 305,463,303,026 4,029,598,613,304 4,560,188,141,238 111,483,821,373 43,714,563,784 1,860,691,855 1,192,769,030 109,623,129,518 42,521,794,754 13,281,305,941 48,489,723,898 10,000,000,000 48,000,000,000 2,917,634,887 16,093,556 363,671,054 473,630,342 4,127,801,128,736 4,555,412,981,124 992,762,718,200 1,042,146,974,270 3,135,038,410,536 3,513,266,006,854 137
0 6,207,777,155,817 6,207,777,155,817-1,100,000,000,000-1,100,000,000,000-63,100,000,000-63,100,000,000 3,513,266,006,854 3,513,266,006,854 0 8,557,943,162,671 8,557,943,162,671 0 8,557,943,162,671 8,557,943,162,671-2,000,000,000,000-2,000,000,000,000-63,300,000,000-63,300,000,000 3,135,038,410,536 3,135,038,410,536 0 9,629,681,573,207 9,629,681,573,207 138
3,135,038,410,536 3,513,266,006,854 0 0 3,135,038,410,536 3,513,266,006,854 3,135,038,410,536 3,513,266,006,854 940,511,523,160 351,326,600,685 294,526,887,376 1,161,939,406,169 (36,800,000,000) (63,300,000,000) (257,726,887,376) (1,098,639,406,169) 1,900,000,000,000 2,000,000,000,000 0 0 139
140
141
14,404,525,241,486 13,639,499,050,486-0 0 319,076,872,302,975 306,381,598,207,980 333,481,397,544,461 320,021,097,258,466 142
3,237,583,748,527 2,299,048,569,562 22,892,480,384,412 22,225,827,695,127 26,130,064,132,939 24,524,876,264,689 7,893,175,000,000 10,729,831,000,000 1,117,200,000,000 1,117,200,000,000 IMF 799,196,528,000 0 9,809,571,528,000 11,847,031,000,000 0 1,695,600,000,000-0 0 0 1,695,600,000,000 143
395,000,000,000 395,000,000,000 1,165,000,000,000 1,165,000,000,000 310,000,000,000 310,000,000,000 1,870,000,000,000 1,870,000,000,000 6,445,598,219,035 5,986,986,744,294 8,315,598,219,035 7,856,986,744,294 144,522,320,689,777 144,778,411,257,294 20,270,000,000,000 18,760,000,000,000 164,792,320,689,777 163,538,411,257,294 4,500,000,000,000 7,880,000,000,000 2,625,048,730,147 3,672,863,023,141 7,125,048,730,147 11,552,863,023,141 144
728,780,371,900 689,128,494,610 10,065,139,985,588 10,388,367,260,437 10,793,920,357,488 11,077,495,755,047 403,954,561,877 271,585,735,002 11,018,802,749 33,034,981,255 414,973,364,626 304,620,716,257 145
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ISSN 1975-4922
2012. 3 2 0 1 1 m.bok.or.kr ISSN 1975-4922 2011 2012. 3