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Foreign IBs Up S. Korea’s 2021 Growth Outlook to 3.6 pct

Foreign IBs Up S. Korea’s 2021 Growth Outlook to 3.6 pct

SEOUL, March 9 (Korea Bizwire) — Major global investment banks (IBs) have revised up their forecasts for South Korea’s 2021 economic growth for the third consecutive month amid growing expectations for a recovery, a report showed Tuesday. As of end-February, nine major global IBs, including Barclays, BoA-Merrill Lynch and Citi, forecast Asia’s fourth-largest economy to [...]

S. Korea’s 2020 Growth Ranks 3rd Among Major Nations

S. Korea’s 2020 Growth Ranks 3rd Among Major Nations

SEOUL, Feb. 23 (Korea Bizwire) — South Korea’s economic growth rate ranked third among major economies across the globe in 2020 despite an on-year contraction due to the coronavirus pandemic, data showed Tuesday. Asia’s fourth-largest economy contracted 1 percent last year from a year earlier, but it posted the third-best performance among 15 major nations, [...]

Gov’t Signals Negative Economic Growth Inevitable for 2020

Gov’t Signals Negative Economic Growth Inevitable for 2020

SEOUL, Sept. 14 (Korea Bizwire) — South Korea’s negative economic growth is expected to be inevitable for this year in the wake of the coronavirus outbreak, officials have said. Local bureaucrats’ growing pessimism about Asia’s fourth-largest economy comes as economic activity has been battered by tougher social distancing measures in the greater Seoul area in [...]

Study Argues Massive Inflow of Refugees Can Lead to Long-term Economic Growth

Study Argues Massive Inflow of Refugees Can Lead to Long-term Economic Growth

SEOUL, Dec. 28 (Korea Bizwire) — A recent study has argued that accepting refugees en masse can incur short-term financial risk, but helps economic growth in the long run. Park Bok-yeong, a professor at Kyunghee University’s Graduate School of International Studies, claimed that despite the short-term financial risk that comes with an inflow of refugees, [...]

Despite 6-year Low Growth, S. Korea’s GNI to Surpass US$30,000 This Year

Despite 6-year Low Growth, S. Korea’s GNI to Surpass US$30,000 This Year

SEOUL, Dec. 9 (Korea Bizwire) — South Korea’s per capita income is likely to surpass US$30,000 this year, though the economy is forecast to record its lowest growth rate in six years, observers said Sunday. Gross national income (GNI) is expected to reach $31,243 in 2018, up from last year’s $29,745, according to market observers, [...]

S. Korea’s Economic Growth Being Hurt by Weak Employment, Falling Investment

S. Korea’s Economic Growth Being Hurt by Weak Employment, Falling Investment

SEOUL, Oct. 28 (Korea Bizwire) – The South Korean economy is expected to post a weak annual growth for this year due to the country’s high unemployment rate coupled with the falling corporate investment, industry watchers said Sunday. The Bank of Korea recently revised down the growth target for 2018 to 2.7 percent from 2.9 [...]

Korea Posts 2nd Lowest Q4 Growth Among Major Economies: OECD

Korea Posts 2nd Lowest Q4 Growth Among Major Economies: OECD

SEOUL, Feb. 26 (Korea Bizwire) — South Korea posted the second lowest economic growth during the fourth quarter of last year among major advanced and emerging economies, data showed Sunday. Asia’s fourth-largest economy shrank 0.2 percent on-quarter in the October-December period to mark the first negative growth in nine years. It was the second-lowest quarter-to-quarter [...]