# KRED — Korea Research Economic Data

> Korean monetary-policy analytics platform. Original model estimates (ACM term premia, Wu-Xia shadow rate, AFNS/AFGNS risk-neutral yields, HLW natural rate, near-term recession probability) alongside 200+ Korean macro-financial time series. Trilingual (Korean/English/Japanese). Series data is licensed CC BY-NC-ND 4.0.

## Markdown for agents

Most pages here have a Markdown twin carrying the same content in a form that costs a fraction of the tokens. Append `.md` to the URL (e.g. https://kred.dev/en/series/KRTP10.md), or request the page itself with `Accept: text/markdown`. The response reports its estimated size in the `x-markdown-tokens` header. Twins are not indexed and are not listed in the sitemap, so this note is where they are announced.

A series twin carries the indicator's metadata, its summary statistics and its full prose, plus the most recent observations as a table — none of which an HTML-to-Markdown conversion of the page would recover, since the chart is drawn client-side. Twins also exist for the night-futures pages (including the contract facts), the overseas ETF iNAV board and its funds, the risk-measure guide, the efficient-frontier page, the column, and this site's About page. Directory pages have none, because this file is their machine-readable form.

## Key pages
- [Series directory](https://kred.dev/en/series): browse every indicator by category
- [All series](https://kred.dev/en/series/all): every indicator on one page
- [U.S. series directory](https://kred.dev/en/series/us): browse every U.S. indicator by category
- [All U.S. series](https://kred.dev/en/series/us/all): every U.S. indicator on one page
- [KOSPI 200 night futures](https://kred.dev/en/kospi-200-night-futures): real-time overnight chart of Korea's night index-futures session, with what the session is, when it runs and how the price ties back to the regular close
- [KOSDAQ 150 night futures](https://kred.dev/en/kosdaq-150-night-futures): real-time overnight chart of the KOSDAQ 150 contract in the same session
- [Night futures guide](https://kred.dev/en/kospi-200-night-futures/guide): beginner guides to the night session, with one page each at /en/kospi-200-night-futures/guide/{trading-hours, how-to-read, opening-gap, overnight-drivers}
- [Korean stock data guide](https://kred.dev/en/stocks/guide): how to read the per-issue price chart, the standardized financial statements, the characteristic line and beta, and the risk measures, at /en/stocks/guide/{price-chart-basics, financial-statements, beta, value-at-risk}
- [Overseas ETF iNAV guide](https://kred.dev/en/overseas-etf-inav/guide): what the after-hours iNAV estimate is, how the premium or discount is read, and how hedged and unhedged funds differ, at /en/overseas-etf-inav/guide/{what-is-inav, premium-discount, fx-hedge}
- [Overseas ETF iNAV](https://kred.dev/en/overseas-etf-inav): live indicative NAV and premium/discount for Korea-listed ETFs tracking overseas assets, with a per-fund page at /en/overseas-etf-inav/{listing code}
- [Korean Stocks](https://kred.dev/en/stocks): per-issue pages for Korean listed equities carrying daily price bars with moving averages, the filed financial statements, dividends per share, and descriptive loss measures with annualized volatility over one, three and five year windows, at /en/stocks/{six-digit code}
- [KOSPI·KOSDAQ Efficient Frontier](https://kred.dev/en/stocks/frontier): where each KOSPI and KOSDAQ issue sits on the risk-return plane over a trailing window, with that market's ex-post efficient frontier and its tradable headline index; the default window's model portfolios and index anchors are in the Markdown twin
- [How rich is my household?](https://kred.dev/en/how-rich-am-i): interactive calculator placing a household's income and net worth in the global distribution, in PPP terms
- [Korean Stock Market Portfolio Analysis](https://kred.dev/en/portfolio): interactive single-index calculator taking a basket of KOSPI issues and weights and returning the basket's beta against the KOSPI 200, its annualized volatility split into market and issue-specific parts, each holding's share of the risk and the tracking error
- [Column](https://kred.dev/en/column): analysis columns on the models and indicators; per-post Markdown twins at /{lang}/column/{slug}.md, Atom feed at https://kred.dev/en/column/feed.xml (per language)
- [About](https://kred.dev/en/about)

## Column
The column posts are published per language and are the only runtime
content on this site. Each language has three machine surfaces: an index,
that index's Markdown twin listing every published post, and an Atom feed.
Fetch a twin to enumerate posts; each post has its own twin at the same
URL plus `.md`.

- [Column index (ko)](https://kred.dev/ko/column) — twin: https://kred.dev/ko/column.md — feed: https://kred.dev/ko/column/feed.xml
- [Column index (en)](https://kred.dev/en/column) — twin: https://kred.dev/en/column.md — feed: https://kred.dev/en/column/feed.xml
- [Column index (ja)](https://kred.dev/ja/column) — twin: https://kred.dev/ja/column.md — feed: https://kred.dev/ja/column/feed.xml

## Interest Rates
- [Call Rate − KOFR Spread](https://kred.dev/en/series/KRCALLKOFR): Measures the gap between unsecured and secured overnight funding costs, widening when interbank funding stress builds.
- [South Korea Treasury Bond 1Y Par Yield](https://kred.dev/en/series/KRKTB1): A short-tenor sovereign yield, the point most sensitive to the policy stance and near-term funding conditions.
- [South Korea Treasury Bond 3Y Par Yield](https://kred.dev/en/series/KRKTB3): The mid-tenor benchmark yield, where expectations for the multi-year policy path concentrate on the curve.
- [South Korea Treasury Bond 5Y Par Yield](https://kred.dev/en/series/KRKTB5): An intermediate sovereign yield spanning the belly of the curve, where policy and longer-run growth views meet.
- [South Korea Treasury Bond 10Y Par Yield](https://kred.dev/en/series/KRKTB10): A long-tenor sovereign yield carrying long-horizon inflation and growth expectations plus the term premium.
- [South Korea Treasury Bond 6M Estimated Yield](https://kred.dev/en/series/KRKTB6M): A short-end sovereign yield interpolated from the fitted curve, since no bond trades at this maturity.
- [South Korea Policy Base Rate](https://kred.dev/en/series/KRBASE): The administered operating target set at policy meetings that steers the overnight rate and anchors the entire yield curve.
- [South Korea Overnight Call Rate](https://kred.dev/en/series/KRCALL): The unsecured overnight interbank rate at the shortest maturity, showing how policy transmits to money markets first.
- [South Korea CD 91-Day Yield](https://kred.dev/en/series/KRCD): The three-month certificate-of-deposit yield, a benchmark for short-term bank funding and floating-rate loans.
- [Korea Overnight Financing Repo Rate](https://kred.dev/en/series/KRKOFR): The overnight repo rate on government-collateralized transactions, the market's secured near-riskless benchmark.
- [South Korea Monetary Stabilization Bond 91-Day Yield](https://kred.dev/en/series/KRMSB): The three-month liquidity-absorbing security yield reflecting open-market operation conditions.
- [South Korea 3-Month KORIBOR](https://kred.dev/en/series/KRKORIBOR3M): The three-month interbank benchmark rate used to reference floating-rate loans and interest-rate swaps at the short end of the money market.
- [South Korea 6-Month KORIBOR](https://kred.dev/en/series/KRKORIBOR6M): The six-month interbank benchmark rate used to reference floating-rate loans at the money market's middle tenor.
- [South Korea 12-Month KORIBOR](https://kred.dev/en/series/KRKORIBOR12M): The twelve-month interbank benchmark rate used to reference floating-rate loans at the money market's longest term point.
- [South Korea CP 91-Day Yield](https://kred.dev/en/series/KRCP91): The 91-day commercial-paper yield, a short-term corporate funding benchmark distinct from bank-issued money-market rates.
- [South Korea Corporate Bond AA- 3Y Yield](https://kred.dev/en/series/KRCORPAA): Tracks the three-year funding cost of top-rated firms and anchors the investment-grade end of the credit spread.
- [South Korea Corporate Bond BBB- 3Y Yield](https://kred.dev/en/series/KRCORPBBB): Sits at the lowest investment-grade rung, where cycle and downgrade risk drive the credit premium in funding costs.

## Yield Curve & Forward Rates
- [South Korea Risk-Neutral Instantaneous Forward Rate 1 Year Hence](https://kred.dev/en/series/KRIFR1): Expected short rate one year ahead, risk premium removed to show near-term policy views.
- [South Korea Risk-Neutral Instantaneous Forward Rate 3 Years Hence](https://kred.dev/en/series/KRIFR3): Expected short rate three years ahead, showing where markets see the rate cycle settling.
- [South Korea Risk-Neutral Instantaneous Forward Rate 5 Years Hence](https://kred.dev/en/series/KRIFR5): Expected short rate five years ahead, tracing the path toward the longer-run neutral rate.
- [South Korea Risk-Neutral Instantaneous Forward Rate 10 Years Hence](https://kred.dev/en/series/KRIFR10): Expected short rate ten years ahead, anchored by long-run growth and inflation views.
- [South Korea 1-Year Zero-Coupon Bond Yield](https://kred.dev/en/series/KRZCY1): The pure one-year discount rate, free of coupon reinvestment, tracks near-term policy expectations and funding.
- [South Korea 3-Year Zero-Coupon Bond Yield](https://kred.dev/en/series/KRZCY3): The pure three-year discount rate, free of coupon effects, is the most traded benchmark tenor on the curve.
- [South Korea 5-Year Zero-Coupon Bond Yield](https://kred.dev/en/series/KRZCY5): The pure five-year discount rate needs no reinvestment assumption, bridging near-term policy and long-run views.
- [South Korea 10-Year Zero-Coupon Bond Yield](https://kred.dev/en/series/KRZCY10): The pure ten-year discount rate captures long-run inflation and growth expectations and duration risk.
- [South Korea Cochrane–Piazzesi Bond Return-Forecasting Factor](https://kred.dev/en/series/KRCP): A descriptive read on the excess return the curve prices for holding longer bonds over a year.

## Term Premia & Decompositions
- [South Korea 1-Year Zero-Coupon Bond Term Premium](https://kred.dev/en/series/KRTP1): The extra reward for holding short-dated debt, tied to the near-term policy path and short-run funding risk.
- [South Korea 3-Year Zero-Coupon Bond Term Premium](https://kred.dev/en/series/KRTP3): The risk reward at the benchmark tenor, bridging near-term policy expectations and medium-horizon pricing.
- [South Korea 5-Year Zero-Coupon Bond Term Premium](https://kred.dev/en/series/KRTP5): The reward for bearing medium-horizon duration and inflation risk over the policy transmission window.
- [South Korea 10-Year Zero-Coupon Bond Term Premium](https://kred.dev/en/series/KRTP10): The reward for long-horizon duration and long-run inflation and growth risk, where bond premia run deepest.
- [South Korea 1-Year Zero-Coupon Bond Risk-Neutral Rate](https://kred.dev/en/series/KRRN1): Strips out the term premium to isolate what markets expect of the policy path over the coming year.
- [South Korea 3-Year Zero-Coupon Bond Risk-Neutral Rate](https://kred.dev/en/series/KRRN3): Sheds risk compensation to show the average short rate markets expect over the medium-term cycle.
- [South Korea 5-Year Zero-Coupon Bond Risk-Neutral Rate](https://kred.dev/en/series/KRRN5): The pure policy-expectations component where longer-run growth and inflation views start to anchor.
- [South Korea 10-Year Zero-Coupon Bond Risk-Neutral Rate](https://kred.dev/en/series/KRRN10): Captures the long-run neutral rate and structural growth and inflation views, net of the term premium.
- [South Korea 1-Year Zero-Coupon Bond Term Premium without Persistence Correction](https://kred.dev/en/series/KRACMTP1): A KRED model estimate published as an alternative for comparison.
- [South Korea 3-Year Zero-Coupon Bond Term Premium without Persistence Correction](https://kred.dev/en/series/KRACMTP3): A KRED model estimate published as an alternative for comparison.
- [South Korea 5-Year Zero-Coupon Bond Term Premium without Persistence Correction](https://kred.dev/en/series/KRACMTP5): A KRED model estimate published as an alternative for comparison.
- [South Korea 10-Year Zero-Coupon Bond Term Premium without Persistence Correction](https://kred.dev/en/series/KRACMTP10): A KRED model estimate published as an alternative for comparison.
- [South Korea 1-Year Zero-Coupon Bond Risk-Neutral Yield without Persistence Correction](https://kred.dev/en/series/KRACMRNY1): A KRED model estimate published as an alternative for comparison.
- [South Korea 3-Year Zero-Coupon Bond Risk-Neutral Yield without Persistence Correction](https://kred.dev/en/series/KRACMRNY3): A KRED model estimate published as an alternative for comparison.
- [South Korea 5-Year Zero-Coupon Bond Risk-Neutral Yield without Persistence Correction](https://kred.dev/en/series/KRACMRNY5): A KRED model estimate published as an alternative for comparison.
- [South Korea 10-Year Zero-Coupon Bond Risk-Neutral Yield without Persistence Correction](https://kred.dev/en/series/KRACMRNY10): A KRED model estimate published as an alternative for comparison.

## Affine Term-Structure Models
- [South Korea 1-Year Zero-Coupon Bond AFNS Risk-Neutral Rate](https://kred.dev/en/series/KRRNAFNS1): Isolates the expected average short rate over one year, tracking the near-term policy path.
- [South Korea 3-Year Zero-Coupon Bond AFNS Risk-Neutral Rate](https://kred.dev/en/series/KRRNAFNS3): Reflects the market's medium-term expected policy path across the business cycle.
- [South Korea 5-Year Zero-Coupon Bond AFNS Risk-Neutral Rate](https://kred.dev/en/series/KRRNAFNS5): Gauges the intermediate-horizon path of policy normalization, net of the term premium.
- [South Korea 10-Year Zero-Coupon Bond AFNS Risk-Neutral Rate](https://kred.dev/en/series/KRRNAFNS10): Shows how firmly long-run expectations for the policy rate are anchored.
- [South Korea 1-Year Zero-Coupon Bond AFGNS Risk-Neutral Rate](https://kred.dev/en/series/KRRNAFGNS1): Expected short rates over the year ahead, net of risk premium, showing the near-term policy view.
- [South Korea 3-Year Zero-Coupon Bond AFGNS Risk-Neutral Rate](https://kred.dev/en/series/KRRNAFGNS3): Expected short rates over three years, net of risk premium, spanning a full policy cycle.
- [South Korea 5-Year Zero-Coupon Bond AFGNS Risk-Neutral Rate](https://kred.dev/en/series/KRRNAFGNS5): Expected short rates over five years, where cyclical policy meets structural anchors.
- [South Korea 10-Year Zero-Coupon Bond AFGNS Risk-Neutral Rate](https://kred.dev/en/series/KRRNAFGNS10): Expected short rates over ten years, anchoring long-run neutral-rate and inflation views.
- [South Korea AFNS Risk-Neutral Instantaneous Forward Rate 1 Year Hence](https://kred.dev/en/series/KRIFRAFNS1): The arbitrage-free one-year-ahead short rate, showing near-term policy path views.
- [South Korea AFNS Risk-Neutral Instantaneous Forward Rate 3 Years Hence](https://kred.dev/en/series/KRIFRAFNS3): The three-year-ahead short rate, tracking medium-term policy cycle views.
- [South Korea AFNS Risk-Neutral Instantaneous Forward Rate 5 Years Hence](https://kred.dev/en/series/KRIFRAFNS5): The five-year-ahead short rate, bridging cyclical and structural rate expectations.
- [South Korea AFNS Risk-Neutral Instantaneous Forward Rate 10 Years Hence](https://kred.dev/en/series/KRIFRAFNS10): The ten-year-ahead short rate, reflecting long-run neutral rate and inflation views.
- [South Korea AFGNS Risk-Neutral Instantaneous Forward Rate 1 Year Hence](https://kred.dev/en/series/KRIFRAFGNS1): Risk-neutral expected overnight rate a year out, tracing the near-term policy path.
- [South Korea AFGNS Risk-Neutral Instantaneous Forward Rate 3 Years Hence](https://kred.dev/en/series/KRIFRAFGNS3): Risk-neutral expected overnight rate three years out, at the business-cycle horizon.
- [South Korea AFGNS Risk-Neutral Instantaneous Forward Rate 5 Years Hence](https://kred.dev/en/series/KRIFRAFGNS5): Risk-neutral expected overnight rate five years out, between cycle and structure.
- [South Korea AFGNS Risk-Neutral Instantaneous Forward Rate 10 Years Hence](https://kred.dev/en/series/KRIFRAFGNS10): Risk-neutral expected overnight rate ten years out, a long-run rate anchor.

## Shadow Rate Term Structure
- [South Korea Shadow Short Rate](https://kred.dev/en/series/KRSHR): Shows how deep easing runs when the policy rate is pinned at its floor, using negative values to gauge the stance.
- [South Korea 1-Year Shadow Term Premium](https://kred.dev/en/series/KRSTP1): Floor-consistent excess risk compensation over the near term, driven by the imminent policy path and rollover risk.
- [South Korea 3-Year Shadow Term Premium](https://kred.dev/en/series/KRSTP3): Floor-consistent excess risk compensation over the business-cycle horizon, sensitive to the policy cycle and momentum.
- [South Korea 5-Year Shadow Term Premium](https://kred.dev/en/series/KRSTP5): Floor-consistent excess risk compensation at intermediate duration, bridging cyclical to structural expectations.
- [South Korea 10-Year Shadow Term Premium](https://kred.dev/en/series/KRSTP10): Floor-consistent excess risk compensation over the long duration, reflecting long-run inflation and growth risk.

## Real & Policy Rates
- [South Korea Ex-Ante Real Policy Rate (Base Rate)](https://kred.dev/en/series/KREARPR): The base rate less expected inflation, showing how tight or easy policy is expected to be.
- [South Korea Ex-Post Real Policy Rate (Base Rate)](https://kred.dev/en/series/KREPRPR): The base rate less realized inflation, the real rate savers and borrowers actually experienced.
- [South Korea 1-Year Real Interest Rate](https://kred.dev/en/series/KRRR1): The 1-year real rate stripped of risk compensation, gauging the near-term policy stance and short-term borrowing costs.
- [South Korea 3-Year Real Interest Rate](https://kred.dev/en/series/KRRR3): The 3-year real rate net of premia, showing how the policy path shapes medium-horizon saving and investment incentives.
- [South Korea 5-Year Real Interest Rate](https://kred.dev/en/series/KRRR5): The 5-year real rate cleared of risk components, reflecting funding conditions and expected real purchasing power.
- [South Korea 10-Year Real Interest Rate](https://kred.dev/en/series/KRRR10): The 10-year real rate excluding premia, capturing long-run expectations for growth and the real cost of capital.
- [South Korea Taylor-Rule Prescribed Nominal Policy Rate](https://kred.dev/en/series/KRTAYLOR): Shows the benchmark policy rate the rule prescribes given inflation and the output gap.
- [South Korea Taylor-Rule Policy Stance Gap](https://kred.dev/en/series/KRTAYLORGAP): Gauges how loose or tight the actual policy rate is versus the rule's prescription.
- [South Korea Natural Rate of Interest](https://kred.dev/en/series/KRNR): The neutral real rate that neither stimulates nor restrains the economy, a policy anchor.
- [South Korea Real Rate Gap](https://kred.dev/en/series/KRRRGAP): The distance between the real policy rate and neutral, measuring whether conditions are easy or tight.
- [South Korea Expected Policy Rate Change](https://kred.dev/en/series/KRMPEXP): The part of a rate decision markets had already priced in before the announcement, isolating what was foreseen.
- [South Korea Monetary Policy Target Surprise](https://kred.dev/en/series/KRMPTGT): The piece of a rate decision markets failed to price in, the genuine shock that moves prices at announcement.
- [South Korea Market-Implied Expected Policy Rate, Next Meeting](https://kred.dev/en/series/KRMPR1): From the term-premium-free forward curve, whether a hike, cut, or hold is priced next.
- [South Korea Market-Implied Expected Policy Rate, Second Meeting](https://kred.dev/en/series/KRMPR2): Extends to the second meeting, showing the cumulative rate path markets embed near term.
- [South Korea Market-Implied Expected Policy Rate, Third Meeting](https://kred.dev/en/series/KRMPR3): Reaches the third meeting, gauging market expectations of the easing or tightening cycle.

## Financial Indicators
- [South Korea 1-Year Term Premium Contribution Ratio](https://kred.dev/en/series/KRTPCR1): Shows how little of the 1-year yield is risk compensation, since rate expectations dominate the short end.
- [South Korea 3-Year Term Premium Contribution Ratio](https://kred.dev/en/series/KRTPCR3): Splits the benchmark 3-year yield into the share driven by policy expectations versus risk compensation.
- [South Korea 5-Year Term Premium Contribution Ratio](https://kred.dev/en/series/KRTPCR5): Risk-compensation share of the 5-year yield, where duration and inflation uncertainty weigh more heavily.
- [South Korea 10-Year Term Premium Contribution Ratio](https://kred.dev/en/series/KRTPCR10): Risk-compensation share of the long 10-year yield, reflecting duration bets on growth and inflation.
- [South Korea Financial Conditions Index](https://kred.dev/en/series/KRFCI): Bundles cross-market stress into one gauge of tightness, where higher readings mean costlier funding.
- [South Korea Composite Indicator of Systemic Stress](https://kred.dev/en/series/KRCISS): Aggregates stress across Korea's key financial markets into a single gauge of system-wide fragility.
- [South Korea CISS Financial-Intermediaries Subindex](https://kred.dev/en/series/KRCISSFI): Captures stress at banks and intermediaries, where funding strains and thin margins impair credit supply.
- [South Korea CISS Money-Market Subindex](https://kred.dev/en/series/KRCISSMM): Tracks short-term funding-market tension, where liquidity squeezes and volatile rates disrupt day-to-day cash flow.
- [South Korea CISS Equity Subindex](https://kred.dev/en/series/KRCISSEQ): Measures equity-market stress, where surging volatility and drawdown risk reflect strain on risky assets and confidence.
- [South Korea CISS Bond Subindex](https://kred.dev/en/series/KRCISSBD): Gauges bond-market stress, where rising yield volatility and widening credit spreads signal strain in fixed-income funding.
- [South Korea CISS Foreign-Exchange Subindex](https://kred.dev/en/series/KRCISSFX): Captures FX-market stress, where won volatility and abrupt depreciation pressure reveal external-sector strain.
- [South Korea Aggregate Distance-to-Default, Median](https://kred.dev/en/series/KRDD): Shows how far the typical listed firm sits above default, a forward-looking read on credit health.
- [South Korea Aggregate Expected Default Frequency, Mean](https://kred.dev/en/series/KREDF): The average model-implied probability of corporate default, rising as financial stress builds.
- [South Korea Aggregate Distance-to-Default, 25th Percentile (Weak Tail)](https://kred.dev/en/series/KRDDTAIL): Tracks the weakest firms, flagging early where corporate distress concentrates.
- [South Korea Excess Bond Premium](https://kred.dev/en/series/KREBP): The part of corporate spreads left unexplained by measurable default risk, gauging bond-market risk appetite and stress.
- [South Korea GZ Corporate Credit-Spread Index](https://kred.dev/en/series/KRGZS): The economy-wide average corporate credit spread holding both default-risk compensation and excess premium.
- [South Korea Default-Risk-Priced Spread Component](https://kred.dev/en/series/KRDRC): The fitted share of credit spreads that the issuers' measured default risk accounts for.
- [South Korea Treasury-Bond Market Noise Measure](https://kred.dev/en/series/KRKTBNOISE): Gauges how far KTB yields stray from a smooth curve, tracking bond-market liquidity strain and arbitrage gaps.

## Monetary Data
- [South Korea Bank of Korea Private Sector Net Liquidity Balance](https://kred.dev/en/series/KRNETLIQ): How much central-bank liquidity truly circulates in the private system after drains.
- [South Korea Bank of Korea Reserve Deposits](https://kred.dev/en/series/KRBOKRSV): Deposits banks keep to meet reserve requirements, a read on reserve conditions and funding strain.
- [South Korea Central Government Deposits](https://kred.dev/en/series/KRTGA): The government's account at the central bank, showing how taxes, bond issuance, and spending move bank reserves.
- [South Korea Bank of Korea Net Open Market Operations Position](https://kred.dev/en/series/KRBOKNETOMO): Nets four open market tools into one gauge of whether operations drain or supply liquidity.
- [South Korea Bank of Korea Reverse Repurchase Agreement Sales](https://kred.dev/en/series/KRBOKRPSALE): Repo sales that drain short-term interbank liquidity, fine-tuning the call rate near policy.
- [South Korea Bank of Korea Reverse Repurchase Agreement Purchases](https://kred.dev/en/series/KRBOKRPPUR): Repo purchases that inject cash into banks, the mirror of the sales that absorb liquidity.
- [South Korea Bank of Korea Monetary Stabilization Bond Outstanding](https://kred.dev/en/series/KRBOKMSB): Debt securities issued by the central bank that sterilize reserve buildup structurally.
- [South Korea Bank of Korea Monetary Stabilization Account Balance](https://kred.dev/en/series/KRBOKMSA): A term deposit facility that absorbs reserves flexibly without bonds or repo operations.
- [South Korea Bank of Korea Total Assets](https://kred.dev/en/series/KRBOKASSET): Central bank balance sheet assets, dominated by foreign reserves, as the gross liquidity base for the private sector.
- [South Korea Narrow Money M1](https://kred.dev/en/series/KRM1): The most liquid money, cash plus checkable demand deposits, mirroring short-term transaction and payment demand.
- [South Korea Broad Money M2](https://kred.dev/en/series/KRM2): Broad money adding savings and time deposits to narrow money, the headline aggregate watched for inflation and credit conditions.
- [South Korea Liquidity Aggregate of Financial Institutions (Lf)](https://kred.dev/en/series/KRLF): A broader gauge adding longer-dated instruments at financial institutions to broad money.
- [South Korea Broad Liquidity (L)](https://kred.dev/en/series/KRL): The widest liquidity aggregate, reaching bonds and other financial claims to capture economy-wide funding capacity.
- [South Korea Reserve Money](https://kred.dev/en/series/KRRESERVEMONEY): Central bank money held as currency in circulation and as reserve deposits, the base on which the broader monetary aggregates are built.

## Credit & Financial Cycle
- [South Korea Credit-to-GDP Gap](https://kred.dev/en/series/KRCGAP): A financial-cycle gauge of how far private credit relative to GDP has strayed from trend, flagging credit booms and imbalances.
- [South Korea Debt Service Ratio, Private Non-Financial Sector](https://kred.dev/en/series/KRDSR): Gauges the income drained by private-sector debt payments, a core financial-stability signal.
- [South Korea Debt Service Ratio, Households](https://kred.dev/en/series/KRDSRH): Shows how much household income goes to debt payments, squeezing room for spending.
- [South Korea Debt Service Ratio, Non-Financial Corporations](https://kred.dev/en/series/KRDSRC): Measures corporate income tied to debt payments, flagging investment strain and default risk.
- [South Korea Household Credit Outstanding](https://kred.dev/en/series/KRHHCREDIT): The end-of-quarter stock of household debt, a gauge of leverage and vulnerability in the household sector.
- [South Korea Household Lending Rate (Balance)](https://kred.dev/en/series/KRHHLOAN): The average rate on outstanding household loans, showing the debt-servicing burden borne by households.
- [South Korea Corporate Lending Rate (Balance)](https://kred.dev/en/series/KRCORPLOAN): The average rate on the outstanding stock of corporate loans, reflecting the financing conditions facing firms.
- [South Korea New-Business Savings Deposit Rate](https://kred.dev/en/series/KRDEPRATE): The average rate on savings deposits newly accepted during the month, showing what savers are currently paid.
- [South Korea Household Credit Growth (YoY)](https://kred.dev/en/series/KRHHCREDITYOY): Tracks how fast household debt is expanding, a leading gauge of the financial cycle and systemic risk.

## Exchange Rates
- [South Korean Won to U.S. Dollar 1-Year Cross-Currency Basis](https://kred.dev/en/series/KRFXCCB1): The one-year premium on synthetic dollar funding, the sharpest signal of dollar funding pressure.
- [South Korean Won to U.S. Dollar 5-Year Cross-Currency Basis](https://kred.dev/en/series/KRFXCCB5): The structural, five-year component, set by standing hedging demand and limited dealer capacity.
- [South Korean Won to U.S. Dollar 10-Year Cross-Currency Basis](https://kred.dev/en/series/KRFXCCB10): The long end of the CIP-deviation term structure, the most structural, slowest-moving component.
- [South Korean Won to U.S. Dollar 3-Month Exchange-Rate-at-Risk](https://kred.dev/en/series/KRFXAR3M): A descriptive gauge of quarter-ahead won-weakness tail risk given financial conditions.
- [South Korean Won to U.S. Dollar 1-Month Exchange-Rate-at-Risk](https://kred.dev/en/series/KRFXAR1M): A descriptive read on near-term won-weakness tail risk given current financial conditions.
- [South Korea Real Effective Exchange Rate](https://kred.dev/en/series/KRREER): A trade-weighted gauge of the won's real purchasing power and export competitiveness.
- [South Korea REER Fundamentals-Implied Level](https://kred.dev/en/series/KRREERFV): The conditional level of the real rate consistent with current macro fundamentals.
- [South Korea REER Deviation from Fundamentals-Implied Level](https://kred.dev/en/series/KRREERDEV): How far the observed rate stands from its fundamentals-implied level, descriptively.
- [South Korea Exchange Market Pressure Index](https://kred.dev/en/series/KRXMP): Measures the combined pressure on the won that appears in the exchange rate, in reserves, and in the policy rate.
- [South Korean Won per US Dollar](https://kred.dev/en/series/KRWUSD): The benchmark won price of the dollar, the pivotal channel through which global funding and import prices reach Korea.
- [South Korean Won per 100 Japanese Yen](https://kred.dev/en/series/KRWJPY): The won price of one hundred yen, a gauge of carry flows and the two economies' relative export competitiveness.
- [South Korean Won per Euro](https://kred.dev/en/series/KRWEUR): The won price of the euro, a window on trade and capital ties between Korea and the euro area.
- [South Korean Won per Chinese Yuan](https://kred.dev/en/series/KRWCNY): The won price of the yuan, a window on relative prices in Korea's trade with China and on regional capital flows.

## External Sector
- [South Korea Current Account Balance](https://kred.dev/en/series/KRBOPCA): Overall net receipts from abroad, summing goods, services, income, and transfers to gauge the saving-investment gap.
- [South Korea Goods Balance](https://kred.dev/en/series/KRBOPGOODS): Net receipts from merchandise trade, the largest current-account driver and a read on manufacturing export competitiveness.
- [South Korea Services Balance](https://kred.dev/en/series/KRBOPSVCS): Net receipts from services like travel, transport, and intellectual property, a component often marked by structural deficits.
- [South Korea Primary Income Balance](https://kred.dev/en/series/KRBOPPRIM): Net receipts of investment and labor income from abroad, the return earned on accumulated net foreign assets.
- [South Korea Secondary Income Balance](https://kred.dev/en/series/KRBOPSEC): Net receipts from unrequited transfers such as remittances and aid, the smallest current-account component.
- [South Korea Financial Account Balance](https://kred.dev/en/series/KRBOPFIN): Net acquisition of foreign financial assets less net incurrence of liabilities, showing how the external balance is financed.
- [South Korea Goods Exports (BOP Basis)](https://kred.dev/en/series/KREXPORTS): The dollar value of goods residents sell abroad, a monthly flow gauging external demand and export momentum.
- [South Korea Goods Imports (BOP Basis)](https://kred.dev/en/series/KRIMPORTS): The dollar value of goods residents buy from abroad, a monthly flow reflecting domestic absorption and import volume.
- [South Korea Official Foreign Reserve Assets](https://kred.dev/en/series/KRFXRESV): The official reserve stock backing external payment capacity and buffering currency defense and crisis liquidity.
- [South Korea Gross External Debt](https://kred.dev/en/series/KREXTDEBT): The gross debt owed across borders, a gauge of external vulnerability to refinancing and currency mismatch.
- [South Korea Outward Direct Investment Position](https://kred.dev/en/series/KRFDIOUT): The equity residents have built up in overseas businesses, their claims on productive assets abroad.
- [South Korea Inward Direct Investment Position](https://kred.dev/en/series/KRFDIIN): The equity foreign capital holds in domestic businesses, long-term outside claims on the home economy.
- [South Korea Gross External Credit](https://kred.dev/en/series/KREXTCREDIT): The gross stock of claims residents hold on the rest of the world, the asset-side counterpart of gross external debt.

## Equity Markets
- [South Korea Investor Sentiment Index](https://kred.dev/en/series/KRSENT): A composite gauge that reads overall investor mood by combining standardized Korean demand-side proxies into one signal.
- [South Korea Margin Loan to Market Capitalization](https://kred.dev/en/series/KRMARGIN): Sizes margin-loan balances against market value to gauge how far retail investors lean into leverage.
- [South Korea Foreign Investor Net Buying Intensity](https://kred.dev/en/series/KRFFLOW): Turns foreign net purchases into an intensity reading of how far overseas capital tilts into Korean stocks.
- [KOSPI Composite Index](https://kred.dev/en/series/KRKOSPI): A value-weighted benchmark tracking the price of large listed shares on the main board, the headline gauge of Korean equity conditions.
- [KOSDAQ Composite Index](https://kred.dev/en/series/KRKOSDAQ): A value-weighted index of the tech and growth secondary board, reflecting risk appetite and funding conditions for smaller firms.
- [KOSPI Market Capitalization](https://kred.dev/en/series/KRKOSPICAP): The summed current market value of main-board listed shares, measuring the overall size and wealth of the Korean equity market.

## Equity Volatility & Risk-Neutral Measures
- [South Korea KOSPI 200 SVIX](https://kred.dev/en/series/KRSVIX): A model-free, one-month risk-neutral volatility of the KOSPI 200 return reflecting total priced return risk.
- [South Korea KOSPI 200 Volatility Index (V-KOSPI 200)](https://kred.dev/en/series/KRVKOSPI): The official month-ahead market volatility gauge.
- [South Korea Samsung Electronics Option-Implied 30-Day Expected-Return Lower Bound](https://kred.dev/en/series/KRERB005930): A floor on Samsung Electronics' one-month expected risk premium.
- [South Korea Samsung Electronics Option-Implied 30-Day Risk-Neutral Volatility](https://kred.dev/en/series/KRRNV005930): The risk-neutral volatility priced into Samsung Electronics over one month.
- [South Korea SK Hynix Option-Implied 30-Day Expected-Return Lower Bound](https://kred.dev/en/series/KRERB000660): A floor on the one-month risk compensation the market requires to hold SK Hynix.
- [South Korea SK Hynix Option-Implied 30-Day Risk-Neutral Volatility](https://kred.dev/en/series/KRRNV000660): Option-implied risk-neutral volatility on SK Hynix, sensitive to the memory cycle.
- [South Korea Samsung C&T Option-Implied 30-Day Expected-Return Lower Bound](https://kred.dev/en/series/KRERB028260): A floor on the one-month expected excess return the market attaches to Samsung C&T.
- [South Korea Samsung C&T Option-Implied 30-Day Risk-Neutral Volatility](https://kred.dev/en/series/KRRNV028260): Risk-neutral volatility on Samsung C&T, spanning its holding and construction arms.
- [South Korea Hyundai Motor Option-Implied 30-Day Expected-Return Lower Bound](https://kred.dev/en/series/KRERB005380): A floor on the one-month risk premium the market requires to hold Hyundai Motor.
- [South Korea Hyundai Motor Option-Implied 30-Day Risk-Neutral Volatility](https://kred.dev/en/series/KRRNV005380): Option-implied risk-neutral volatility on Hyundai Motor, exposed to the export cycle.
- [South Korea LG Electronics Option-Implied 30-Day Expected-Return Lower Bound](https://kred.dev/en/series/KRERB066570): A market-free floor on the equity premium options price into LG Electronics.
- [South Korea LG Electronics Option-Implied 30-Day Risk-Neutral Volatility](https://kred.dev/en/series/KRRNV066570): How much price swing options embed for LG Electronics over the coming month.
- [South Korea POSCO Holdings Option-Implied 30-Day Expected-Return Lower Bound](https://kred.dev/en/series/KRERB005490): A market-free floor on the equity premium options price into POSCO Holdings.
- [South Korea POSCO Holdings Option-Implied 30-Day Risk-Neutral Volatility](https://kred.dev/en/series/KRRNV005490): The one-month price swing options embed for POSCO Holdings, a materials gauge.
- [South Korea Amorepacific Option-Implied 30-Day Risk-Neutral Volatility](https://kred.dev/en/series/KRRNV090430): The one-month price swing options embed for Amorepacific, a consumer-sector gauge.
- [South Korea Hana Financial Group Option-Implied 30-Day Expected-Return Lower Bound](https://kred.dev/en/series/KRERB086790): A market-free floor on Hana Financial Group's one-month equity premium.
- [South Korea Hana Financial Group Option-Implied 30-Day Risk-Neutral Volatility](https://kred.dev/en/series/KRRNV086790): The one-month price swing options embed for Hana Financial Group.
- [South Korea Samsung Electro-Mechanics Option-Implied 30-Day Expected-Return Lower Bound](https://kred.dev/en/series/KRERB009150): A market-free floor on Samsung Electro-Mechanics' equity premium.
- [South Korea Samsung Electro-Mechanics Option-Implied 30-Day Risk-Neutral Volatility](https://kred.dev/en/series/KRRNV009150): Option-implied risk-neutral volatility on this MLCC and components maker.

## Consumer & Producer Prices
- [South Korea Consumer Price Index](https://kred.dev/en/series/KRCPI): The headline gauge of household cost of living and the benchmark for inflation trends.
- [South Korea Core CPI (ex Food & Energy)](https://kred.dev/en/series/KRCORECPI): Strips out volatile food and energy to reveal the underlying trend in prices.
- [South Korea Core CPI (ex Agriculture & Oil)](https://kred.dev/en/series/KRCPIQB): Excludes farm and oil prices for a domestic-focused view of underlying inflation.
- [South Korea Producer Price Index](https://kred.dev/en/series/KRPPI): Tracks prices producers receive at first sale, signaling pipeline pressure ahead of retail.
- [South Korea Agriculture-Livestock-Fisheries CPI](https://kred.dev/en/series/KRCPIAGRI): The farm and marine-goods slice of the consumer basket, exposed to weather and harvest swings.
- [South Korea Industrial Products CPI](https://kred.dev/en/series/KRCPIINDGOODS): Manufactured-goods prices in the consumer basket, the sub-index most exposed to input-cost pass-through.
- [South Korea Electricity-Gas-Water CPI](https://kred.dev/en/series/KRCPIUTIL): Administered utility prices in the consumer basket, set by regulated tariff schedules.
- [South Korea Housing Rent CPI](https://kred.dev/en/series/KRCPIRENT): The rent component of the consumer basket, a slow-moving but persistent cost-of-living driver.
- [South Korea Public Services CPI](https://kred.dev/en/series/KRCPIPUBSVC): Administered service prices in the consumer basket, set by public fee schedules rather than by the market.
- [South Korea Private Services CPI](https://kred.dev/en/series/KRCPIPRIVSVC): Market-priced service prices in the consumer basket, the sub-index most tied to labor costs.
- [South Korea Weighted-Median CPI](https://kred.dev/en/series/KRMEDCPI): The weighted midpoint of item-level price changes, filtering transitory outliers to track the persistent core of inflation.
- [South Korea CPI Inflation (YoY)](https://kred.dev/en/series/KRCPIYOY): The headline pace of consumer price gains that captures households' overall cost of living and anchors policy response.
- [South Korea Core CPI Inflation ex Food & Energy (YoY)](https://kred.dev/en/series/KRCORECPIYOY): Strips volatile food and energy to reveal the underlying trend beneath headline price swings.
- [South Korea Core CPI Inflation ex Agriculture & Oil (YoY)](https://kred.dev/en/series/KRCPIQBYOY): A domestic core gauge excluding farm produce and oil, less shaken by supply shocks.
- [South Korea PPI Inflation (YoY)](https://kred.dev/en/series/KRPPIYOY): Producer-side cost pressure at the factory gate, an upstream read on inflation before it reaches shoppers.

## External Prices
- [South Korea Import Price Index](https://kred.dev/en/series/KRIMPPI): Prices paid for imported goods, a key channel by which commodity and currency swings feed cost-push pressure into inflation.
- [South Korea Export Price Index](https://kred.dev/en/series/KREXPPI): Prices received for exported goods, a gauge of external competitiveness and the revenue margins earned by exporting firms.
- [South Korea Net Barter Terms of Trade](https://kred.dev/en/series/KRTOT): Export prices relative to import prices, the imports a unit of exports buys and thus the purchasing power of exports.
- [South Korea Income Terms of Trade](https://kred.dev/en/series/KRITOT): Terms of trade scaled by export volume, capturing the total import-buying capacity a country earns through its exports.

## Inflation Expectations
- [South Korea Inflation Surprise](https://kred.dev/en/series/KRINFSR): The gap between expected and realized inflation, capturing forecast errors and the ex-ante versus ex-post real-rate wedge.
- [South Korea Trend Inflation](https://kred.dev/en/series/KRTRINF): The long-run persistent component of inflation, tracing the underlying price trend after stripping transitory shocks and noise.
- [South Korea 1-Year Expected Inflation](https://kred.dev/en/series/KREXPINF1): Average price rise expected over the coming year, tracking near-term inflation pressure and the short-run policy path.
- [South Korea 3-Year Expected Inflation](https://kred.dev/en/series/KREXPINF3): Average price rise expected over three years, showing how cyclical inflation shifts toward the long-run anchor.
- [South Korea 5-Year Expected Inflation](https://kred.dev/en/series/KREXPINF5): Average price rise expected over five years, gauging how firmly the price-stability goal holds over the medium term.
- [South Korea 10-Year Expected Inflation](https://kred.dev/en/series/KREXPINF10): Average price rise expected over ten years, the long-run anchor where structural inflation and credibility settle.
- [South Korea One-Year Inflation Expectations Survey](https://kred.dev/en/series/KRINFEXPSV): Shows how households expect consumer prices to rise over the coming year, gauging inflation sentiment.

## Inflation-at-Risk
- [South Korea DB Core CPI 12-Month Inflation-at-Risk](https://kred.dev/en/series/KRIAR12M): Conditional distribution of core inflation a year ahead, showing which way price risk leans.
- [South Korea DB Core CPI 3-Month Inflation-at-Risk](https://kred.dev/en/series/KRIAR3M): Conditional distribution of core inflation three months out, gauging near-term spike or fall risk.

## National Accounts
- [South Korea Real GDP 12-Month Growth-at-Risk](https://kred.dev/en/series/KRGAR12M): Gauges how deep downside risk to growth can run over the year ahead when financial conditions tighten.
- [South Korea Real GDP 3-Month Growth-at-Risk](https://kred.dev/en/series/KRGAR3M): Gauges how current financial conditions shape the lower tail of growth one quarter ahead.
- [South Korea Trend Growth Rate of Potential Output](https://kred.dev/en/series/KRTRGDP): Shows the long-run pace the economy can sustain once cyclical swings are stripped away.
- [South Korea Output Gap](https://kred.dev/en/series/KRGDPGAP): Gauges overheating or slack from how far actual output runs above or below potential.
- [South Korea Real GDP Growth (QoQ, SA)](https://kred.dev/en/series/KRRGDP): Shows how much price-adjusted output rose or fell from the prior quarter, the core reading of the business cycle.
- [South Korea Net International Investment Position](https://kred.dev/en/series/KRNIIP): The economy net external wealth, its foreign assets less foreign liabilities, a barometer of solvency.
- [South Korea Nominal GDP](https://kred.dev/en/series/KRNGDP): The total size of national output valued at current prices, the economy's headline nominal scale.
- [South Korea GDP Deflator](https://kred.dev/en/series/KRGDPDEF): The broadest economy-wide price level, output in current prices divided by its own volume.
- [South Korea Private Consumption](https://kred.dev/en/series/KRPCE): What households spend on goods and services, the largest pillar of domestic demand.
- [South Korea Facilities Investment](https://kred.dev/en/series/KRFACINV): Business spending on machinery and equipment, a read on capacity building and growth appetite.
- [South Korea Construction Investment](https://kred.dev/en/series/KRCONINV): Investment in buildings and infrastructure, closely tied to the property and construction cycle.
- [South Korea Real Gross National Income](https://kred.dev/en/series/KRGNI): Real income actually accruing to residents, capturing purchasing power after terms-of-trade shifts.
- [South Korea Gross Saving Rate](https://kred.dev/en/series/KRSAVRATE): The share of national income set aside rather than consumed, the base for investment funding.
- [South Korea Government Consumption](https://kred.dev/en/series/KRGOVCONS): What the government spends on providing public services, a steady pillar of domestic demand.
- [South Korea Intellectual Property Products Investment](https://kred.dev/en/series/KRIPINV): Investment in research, software, and other intangible assets, a read on capacity built for the long run.
- [South Korea Change in Inventories and Valuables](https://kred.dev/en/series/KRINVCHG): The net build-up and drawdown of inventories and valuables, where production and final sales part ways.

## Government Finance
- [South Korea Central Government Debt](https://kred.dev/en/series/KRGDEBT): The year-end stock of outstanding central government debt, a gauge of fiscal sustainability and creditworthiness.
- [South Korea Consolidated Fiscal Balance](https://kred.dev/en/series/KRFISCAL): A year of revenue net of expenditure and net lending, showing whether the budget runs a surplus or deficit.
- [South Korea Central Government Total Revenue](https://kred.dev/en/series/KRGOVREV): The cumulative year-to-date total revenue of the central government, showing how the receipts side of the budget builds up through the year.
- [South Korea Central Government Total Expenditure](https://kred.dev/en/series/KRGOVEXP): The cumulative year-to-date total expenditure of the central government, showing the pace at which the spending side of the budget is executed.
- [South Korea National Tax Revenue](https://kred.dev/en/series/KRTAXREV): The cumulative year-to-date national tax revenue inside total revenue, showing the tax receipts that form the base of government income.

## Recession & Nowcasting
- [South Korea Near-Term Recession Probability](https://kred.dev/en/series/KRRECP): A downturn-risk gauge read from the bond yield curve, showing how likely a contraction is three months ahead.
- [South Korea Sahm-Rule Recession Indicator](https://kred.dev/en/series/KRSAHM): Measures how far unemployment sits above its recent low, flagging labor-market weakness and recession risk.
- [South Korea ADS Business Conditions Index](https://kred.dev/en/series/KRADS): Distills the signal shared by employment, production, and sales into a monthly read on activity versus average.
- [South Korea Time-Varying Employment Elasticity of Growth](https://kred.dev/en/series/KREMPEL): Shows how strongly employment responds to output growth over time, gauging how job-rich growth is.
- [South Korea Real-GDP Nowcast](https://kred.dev/en/series/KRGDPNOW): Reads monthly activity data into a near real-time estimate of current-quarter growth, available ahead of the official release.

## Real Activity & Business Cycle
- [South Korea Unemployment Rate (SA)](https://kred.dev/en/series/KRUNEMP): The share of the labor force out of work but seeking it, a headline gauge of labor slack and where the cycle stands.
- [South Korea Employment (SA)](https://kred.dev/en/series/KREMP): A headcount of people actually working, one of the most direct signals of expanding or contracting aggregate activity.
- [South Korea Industrial Production Index (SA)](https://kred.dev/en/series/KRIP): Combines the physical output of mining, manufacturing, and utilities into a core read on industrial momentum.
- [South Korea All-Industry Production Index (SA)](https://kred.dev/en/series/KRAIP): Bundles the real output of every sector, from manufacturing to services, into one economy-wide gauge.
- [South Korea Retail Sales Index (SA)](https://kred.dev/en/series/KRRETAIL): The volume of goods sold at retail, a timely read on the strength of household consumption demand.
- [South Korea Services Production Index (SA)](https://kred.dev/en/series/KRSVCS): Measures real output of the service industries, the largest slice of the economy and a key read on demand.
- [South Korea Coincident Composite Index (Cyclical)](https://kred.dev/en/series/KRCOINC): Bundles coincident indicators and strips the trend to show which phase of the cycle activity now sits in.
- [South Korea Business Survey Index (Outlook)](https://kred.dev/en/series/KRBSI): Aggregates how firms view next month business conditions, a read on sentiment about the direction of activity.
- [South Korea Consumer Sentiment Index](https://kred.dev/en/series/KRCSI): A monthly read on household confidence, leaning toward optimism or pessimism and hinting where spending may head.
- [South Korea Leading Composite Index](https://kred.dev/en/series/KRLEAD): A composite chosen to move ahead of turning points, signaling where the cycle is headed before the broad economy shifts.
- [South Korea Lagging Composite Index](https://kred.dev/en/series/KRLAG): A composite that responds after the fact, confirming expansions and contractions once a cyclical phase has ended.
- [South Korea Manufacturing Capacity Utilization Rate](https://kred.dev/en/series/KRCAPUTIL): Shows how intensively factory capacity is used, gauging slack and demand pressure on manufacturing.
- [South Korea Manufacturing Inventory Ratio](https://kred.dev/en/series/KRINVRATIO): Weighs stocks against shipments to reveal demand and supply mismatch, flagging cyclical strain early in a phase.
- [South Korea Construction Orders](https://kred.dev/en/series/KRCONSTORD): Captures newly placed construction orders, previewing the pipeline of building investment and real activity ahead.
- [South Korea Economic Sentiment Index](https://kred.dev/en/series/KRESI): A composite of firm and household surveys showing whether private-sector mood sits above or below its long-run norm.
- [South Korea Industrial Production Growth (YoY)](https://kred.dev/en/series/KRIPYOY): Tracks factory and mining output versus a year earlier, a cyclical gauge tied to export demand.
- [South Korea All-Industry Production Growth (YoY)](https://kred.dev/en/series/KRAIPYOY): The broadest output measure across every sector, showing the whole economy speeding up or slowing.
- [South Korea Retail Sales Growth (YoY)](https://kred.dev/en/series/KRRETAILYOY): Measures retail spending versus a year earlier, gauging household consumption and domestic demand.
- [South Korea Services Production Growth (YoY)](https://kred.dev/en/series/KRSVCSYOY): Shows how fast domestic-facing service output grows, a sector driven by home demand not exports.
- [South Korea Employment Growth (YoY)](https://kred.dev/en/series/KREMPYOY): Shows how the number of people employed changed versus a year earlier, a broad read on the labor market.

## House Prices
- [South Korea Real Residential House Price Index](https://kred.dev/en/series/KRHPI): Tracks the inflation-adjusted level of home values, gauging real housing affordability over time.
- [South Korea House Price Gap](https://kred.dev/en/series/KRHPGAP): Shows how far real home prices sit above or below their long-run trend, flagging overheating and household-leverage risk.

## Housing Market
- [South Korea House Sale Price Index](https://kred.dev/en/series/KRHSPI): Tracks the level of dwelling sale prices on a fixed basket, a gauge of housing wealth and household affordability.
- [South Korea Jeonse Price Index](https://kred.dev/en/series/KRJEONSE): Tracks the level of jeonse leasehold-deposit prices on a fixed basket, a read on rental costs and housing finance.
- [South Korea Unsold New Housing Stock](https://kred.dev/en/series/KRUNSOLD): Counts the stock of unsold new dwellings, a quantity signal of supply overhang and slack in housing demand.
- [South Korea Housing Sale Transactions](https://kred.dev/en/series/KRHTXN): Counts monthly housing sale transactions, a quantity gauge of market activity and the pulse of buyer demand.
- [South Korea House Price Outlook Consumer Survey Index](https://kred.dev/en/series/KRHOUSECSI): A monthly read on how households expect house prices to move, showing which way housing sentiment leans.

## Labor Market
- [South Korea Labor Force Participation Rate (SA)](https://kred.dev/en/series/KRLFPR): The share of working-age people who are working or seeking work, tracking structural labor supply engagement.
- [South Korea Employment-to-Population Ratio (SA)](https://kred.dev/en/series/KREPOP): The share of working-age people actually employed, gauging labor utilization without the job-search cutoff.
- [South Korea Youth Unemployment Rate](https://kred.dev/en/series/KRYUNEMP): Joblessness among people aged 15 to 29, an entry-cohort gauge especially sensitive to slack.
- [South Korea Average Monthly Wage per Regular Worker](https://kred.dev/en/series/KRWAGE): Average monthly pay per regular worker, a read on household income and cost pass-through.
- [South Korea Average Weekly Hours Worked](https://kred.dev/en/series/KRHOURS): Average weekly hours per worker, the labor-input intensity that adjusts before headcount.
- [South Korea Economically Active Population](https://kred.dev/en/series/KRACTIVEPOP): The count of people working or looking for work, the numerator behind the participation rate.
- [South Korea Unemployed Persons](https://kred.dev/en/series/KRUNEMPCNT): The headcount of jobless active job-seekers, the numerator behind the unemployment rate.
- [South Korea Population Age 15 and Over](https://kred.dev/en/series/KRPOP15): The working-age population base that splits into the economically active population and the population not in the labor force.
- [South Korea Population Not in the Labor Force](https://kred.dev/en/series/KRNONACTIVE): People neither working nor looking for work, the complement of the economically active population.
- [South Korea Mining and Manufacturing Employment](https://kred.dev/en/series/KREMPMINING): The headcount of people employed in mining and manufacturing, the industry group most exposed to the export and capital-spending cycle.
- [South Korea Construction Employment](https://kred.dev/en/series/KREMPCONST): The headcount of people employed in construction, an industry whose hiring turns with building activity and the housing cycle.
- [South Korea Wholesale, Retail, Accommodation, and Food Services Employment](https://kred.dev/en/series/KREMPTRADE): The headcount of people employed in wholesale, retail, accommodation, and food services, the industry group closest to household consumption.

## U.S. Monetary Data
- [U.S. IORB–SOFR Spread](https://kred.dev/en/series/KRRESV): Gauges in a single number how ample or scarce U.S. bank reserves are, signaling money-market stress and funding conditions.
- [U.S. Federal Reserve Private Sector Net Liquidity Balance](https://kred.dev/en/series/USNETLIQ): Captures how much Fed-supplied liquidity actually circulates through private markets after drains.
- [U.S. Federal Reserve Bank Reserve Balances](https://kred.dev/en/series/USFEDRSV): The main channel through which quantitative easing reaches banks and shapes funding conditions.
- [U.S. Treasury General Account Balance](https://kred.dev/en/series/USTGA): Government cash sequestered before spending, a drain that pulls liquidity out of the banking system.
- [U.S. Federal Reserve Overnight Reverse Repurchase Agreement Balance](https://kred.dev/en/series/USFEDRRP): Overnight cash parked at the Fed by money funds, draining reserves from the banks.
- [U.S. Federal Reserve Total Assets](https://kred.dev/en/series/USFEDASSET): The total balance sheet built from Treasury and MBS purchases, gauging the scale of monetary easing.

## U.S. Exchange Rates
- [Nominal Broad US Dollar Index](https://kred.dev/en/series/USDBROAD): A single index summarizing the dollar's value against a broad basket of trading-partner currencies.

## U.S. Interest Rates
- [U.S. Secured Overnight Financing Rate](https://kred.dev/en/series/USSOFR): The US secured benchmark rate formed in Treasury-collateralized overnight repurchase transactions.
- [U.S. Interest Rate on Reserve Balances](https://kred.dev/en/series/USIORB): The administered rate paid on reserve balances, which sets the floor for overnight money under an ample-reserves framework.
- [U.S. 10-Year Model-Based Real Interest Rate](https://kred.dev/en/series/USRR10): A long-horizon real rate obtained by subtracting model-based expected inflation from the 10-year nominal yield, not an observed inflation-linked yield.
- [U.S. Federal Funds Target Range Upper Limit](https://kred.dev/en/series/USFFUPPER): The announced upper boundary of the US overnight operating-target range, a daily step function that moves only on policy decision dates.
- [U.S. Federal Funds Target Range Lower Limit](https://kred.dev/en/series/USFFLOWER): The announced lower boundary of the US overnight operating-target range, a daily step function that moves only on policy decision dates.
- [U.S. Effective Federal Funds Rate](https://kred.dev/en/series/USEFFR): The volume-weighted rate on executed overnight unsecured lending of US reserve balances, a market outcome rather than an announced level.

## U.S. Consumer & Producer Prices
- [U.S. All Items Consumer Price Index](https://kred.dev/en/series/USCPI): The all-items US consumer price index level, published monthly and not seasonally adjusted.
- [U.S. All Commodities Producer Price Index](https://kred.dev/en/series/USPPI): The all-commodities US producer price index level, published monthly and not seasonally adjusted.
- [U.S. Seasonally Adjusted All Items Consumer Price Index](https://kred.dev/en/series/USCPISA): The all-items US consumer price index level, seasonally adjusted at source so that month-to-month moves read free of the within-year price pattern.
- [U.S. Seasonally Adjusted Core Consumer Price Index](https://kred.dev/en/series/USCORECPISA): The US consumer price index excluding food and energy, seasonally adjusted at source, the exclusion-based core companion to the all-items level.
- [U.S. Personal Consumption Expenditures Price Index](https://kred.dev/en/series/USPCEPI): The chain-type price index for US personal consumption expenditures, whose weights update period by period instead of staying fixed as in a CPI basket.
- [U.S. Core Personal Consumption Expenditures Price Index](https://kred.dev/en/series/USCOREPCEPI): The chain-type US consumption price index excluding food and energy, the core counterpart of the headline chain-type level.
- [U.S. Final Demand Producer Price Index](https://kred.dev/en/series/USPPIFD): The US final-demand producer price index, seasonally adjusted at source, differing from the all-commodities USPPI in basket, seasonal convention and base.
- [U.S. Core Final Demand Producer Price Index](https://kred.dev/en/series/USCOREPPIFD): The US final-demand producer price index excluding foods and energy, the core counterpart of the final-demand level and on its own reference base.
- [U.S. Trimmed-Mean PCE Inflation Rate](https://kred.dev/en/series/USTRIMPCE): A trimmed-mean estimator of underlying US consumption inflation, reported as a 12-month rate rather than an index level, descriptive and not a forecast.
- [U.S. Median CPI Inflation](https://kred.dev/en/series/USMEDCPI): A weighted-median estimator of underlying US consumer price inflation, reported as a 12-month rate rather than an index level, descriptive and not a forecast.
- [U.S. 16% Trimmed-Mean CPI Inflation](https://kred.dev/en/series/USTRIMCPI): A trimmed-mean estimator of underlying US consumer price inflation that cuts 8 percent of expenditure weight from each tail, reported as a 12-month rate rather…

## U.S. Labor Market
- [U.S. Unemployment Rate](https://kred.dev/en/series/USUNEMP): The share of the US labor force without work yet actively seeking it, the headline gauge of labor slack and of where the cycle stands.
- [U.S. Total Nonfarm Payroll Employment](https://kred.dev/en/series/USPAYROLL): The total count of jobs on nonfarm establishment payrolls, the most widely watched monthly read on whether US activity is expanding or contracting.

## U.S. Real Activity & Business Cycle
- [U.S. Real Gross Domestic Product](https://kred.dev/en/series/USRGDP): The price-adjusted level of total output, reported at a seasonally adjusted annual rate in chained 2017 dollars.
- [U.S. Industrial Production Index](https://kred.dev/en/series/USIP): Combines the physical output of mining, manufacturing, and utilities into a monthly index on a 2017 base.
- [U.S. Sahm-Rule Recession Indicator](https://kred.dev/en/series/USSAHM): A descriptive percentage-point gauge of labor-market deterioration, the three-month average unemployment rate less its low of the past year.
- [U.S. ADS Business Conditions Index](https://kred.dev/en/series/USADS): A daily read on whether US business conditions sit above or below their own average, distilled from a panel of activity indicators.

## U.S. Yield Curve & Inflation Compensation
- [U.S. Treasury 1M Constant Maturity Yield](https://kred.dev/en/series/USTSY1M): The shortest point on the Treasury constant maturity curve, close to the average overnight rate expected over a single month.
- [U.S. Treasury 3M Constant Maturity Yield](https://kred.dev/en/series/USTSY3M): A three-month Treasury yield at the money-market end of the curve, and the short leg of the ten-year spread published alongside it.
- [U.S. Treasury 6M Constant Maturity Yield](https://kred.dev/en/series/USTSY6M): A six-month Treasury yield spanning the next several scheduled policy decisions, read directly at the constant maturity point.
- [U.S. Treasury 1Y Constant Maturity Yield](https://kred.dev/en/series/USTSY1): A one-year Treasury yield covering the nearest policy decisions, where the money-market end meets the coupon sector.
- [U.S. Treasury 2Y Constant Maturity Yield](https://kred.dev/en/series/USTSY2): A two-year Treasury yield, the point that moves with revisions to the expected policy path and the short leg of the ten-year spread published alongside it.
- [U.S. Treasury 3Y Constant Maturity Yield](https://kred.dev/en/series/USTSY3): A three-year Treasury yield, where the expected policy path still dominates but the premium for holding the claim is no longer negligible.
- [U.S. Treasury 5Y Constant Maturity Yield](https://kred.dev/en/series/USTSY5): A five-year Treasury yield in the middle of the curve, where the expected path and the term premium both carry weight.
- [U.S. Treasury 10Y Constant Maturity Yield](https://kred.dev/en/series/USTSY10): The benchmark ten-year Treasury yield, carrying long-horizon expectations together with a substantial term premium.
- [U.S. Treasury 20Y Constant Maturity Yield](https://kred.dev/en/series/USTSY20): A twenty-year Treasury yield, a long-duration point lying between the ten- and thirty-year benchmarks.
- [U.S. Treasury 30Y Constant Maturity Yield](https://kred.dev/en/series/USTSY30): The longest point on the Treasury constant maturity curve, and the one where a given change in yield moves price most.
- [U.S. Treasury 10Y − 2Y Yield Spread](https://kred.dev/en/series/USTSY10Y2Y): The published difference between the ten-year and two-year Treasury yields, the conventional measure of the slope of the curve.
- [U.S. Treasury 10Y − 3M Yield Spread](https://kred.dev/en/series/USTSY10Y3M): The published difference between the ten-year and three-month Treasury yields, measuring the slope from the money-market end.
- [U.S. Near-Term Forward Spread](https://kred.dev/en/series/USNTFS): The distance between the forward rate six quarters ahead and the three-month zero rate, both read from one fitted Treasury curve on the same day and expressed…

## U.S. Term Premia
- [U.S. Kim-Wright 10-Year Term Premium](https://kred.dev/en/series/USKWTP10): The residual risk-compensation part of the ten-year Treasury yield under a published three-factor arbitrage-free model of the curve, served as recorded and not…
- [U.S. KRED-Estimated 1-Year Term Premium](https://kred.dev/en/series/USTP1): A KRED model estimate of the one-year US term premium, published as an alternative for comparison and defined in percent per annum as the part of the one-year…
- [U.S. KRED-Estimated 3-Year Term Premium](https://kred.dev/en/series/USTP3): A KRED model estimate of the three-year US term premium, published as an alternative for comparison and defined in percent per annum as the part of the…
- [U.S. KRED-Estimated 5-Year Term Premium](https://kred.dev/en/series/USTP5): A KRED model estimate of the five-year US term premium, published as an alternative for comparison and defined in percent per annum as the part of the…
- [U.S. KRED-Estimated 10-Year Term Premium](https://kred.dev/en/series/USTP10): A KRED model estimate of the ten-year US term premium, published as an alternative for comparison and defined in percent per annum as the part of the ten-year…
- [U.S. KRED-Estimated 1-Year Term Premium without Persistence Correction](https://kred.dev/en/series/USACMTP1): A KRED model estimate of the one-year US term premium in percent per annum, published as an alternative for comparison.
- [U.S. KRED-Estimated 3-Year Term Premium without Persistence Correction](https://kred.dev/en/series/USACMTP3): A KRED model estimate of the three-year US term premium in percent per annum, published as an alternative for comparison.
- [U.S. KRED-Estimated 5-Year Term Premium without Persistence Correction](https://kred.dev/en/series/USACMTP5): A KRED model estimate of the five-year US term premium in percent per annum, published as an alternative for comparison.
- [U.S. KRED-Estimated 10-Year Term Premium without Persistence Correction](https://kred.dev/en/series/USACMTP10): A KRED model estimate of the ten-year US term premium in percent per annum, published as an alternative for comparison.

## U.S. Risk-Neutral Yields
- [U.S. KRED-Estimated 1-Year Risk-Neutral Yield](https://kred.dev/en/series/USRNY1): A KRED model estimate of the one-year US risk-neutral yield, published as an alternative for comparison and defined in percent per annum as the expected…
- [U.S. KRED-Estimated 3-Year Risk-Neutral Yield](https://kred.dev/en/series/USRNY3): A KRED model estimate of the three-year US risk-neutral yield, published as an alternative for comparison and defined in percent per annum as the expected…
- [U.S. KRED-Estimated 5-Year Risk-Neutral Yield](https://kred.dev/en/series/USRNY5): A KRED model estimate of the five-year US risk-neutral yield, published as an alternative for comparison and defined in percent per annum as the expected…
- [U.S. KRED-Estimated 10-Year Risk-Neutral Yield](https://kred.dev/en/series/USRNY10): A KRED model estimate of the ten-year US risk-neutral yield, published as an alternative for comparison and defined in percent per annum as the expected…
- [U.S. KRED-Estimated 1-Year Risk-Neutral Yield without Persistence Correction](https://kred.dev/en/series/USACMRNY1): A KRED model estimate of the one-year US risk-neutral yield in percent per annum, published as an alternative for comparison.
- [U.S. KRED-Estimated 3-Year Risk-Neutral Yield without Persistence Correction](https://kred.dev/en/series/USACMRNY3): A KRED model estimate of the three-year US risk-neutral yield in percent per annum, published as an alternative for comparison.
- [U.S. KRED-Estimated 5-Year Risk-Neutral Yield without Persistence Correction](https://kred.dev/en/series/USACMRNY5): A KRED model estimate of the five-year US risk-neutral yield in percent per annum, published as an alternative for comparison.
- [U.S. KRED-Estimated 10-Year Risk-Neutral Yield without Persistence Correction](https://kred.dev/en/series/USACMRNY10): A KRED model estimate of the ten-year US risk-neutral yield in percent per annum, published as an alternative for comparison.