IMF Archives | Be Korea-savvy
IMF Sees N.K. Tensions Having No Major Impact on S. Korea

IMF Sees N.K. Tensions Having No Major Impact on S. Korea

WASHINGTON, April 24 (Korea Bizwire) – Tensions with North Korea haven’t had any significant impact on South Korea’s trade and investment, and a sharp rise in U.S. interest rates is a major risk for Asia’s fourth largest economy going forward, an International Monetary Fund official said Friday. “So far, we have not seen any significant impact on South Korea’s trade investments,” Markus Rodlauer, deputy director of the Asia-Pacific department at the IMF, said [...]

IMF Director Advises Seoul to Deregulate Service Sector

IMF Director Advises Seoul to Deregulate Service Sector

SEOUL, Aug. 12 (Korea Bizwire) – South Korea has to carry out sweeping reform of the service industry as a first step to transform the manufacturing-focused economy into the service sector-led economy, a Korea-born official from the International Monetary Fund (IMF) said Friday.  “The South Korean economy has been steered by the manufacturing industry and [...]

IMF director : S. Korea Needs to Revive Economic Dynamics

IMF director : S. Korea Needs to Revive Economic Dynamics

SEOUL, Dec. 27 (Yonhap) – South Korea needs to revive its economic dynamics to achieve sustainable growth, as it may face a drop in growth potential due to the rapidly aging population, a director of the International Monetary Fund (IMF) said Sunday. “The Bank of Korea (BOK) estimated that South Korea’s growth potential is around 3 to 3.2 percent, but it will likely drop to below 3 percent in the long-term due to structural [...]

IMF Lowers S. Korea’s Growth Forecast for This Year to 3.7 percent

IMF Lowers S. Korea’s Growth Forecast for This Year to 3.7 percent

WASHINGTON, Feb. 6 (Korea Bizwire) — The International Monetary Fund predicted Friday that South Korea’s economy would expand 3.7 percent this year, down 0.3 percentage point from its earlier forecast. The forecast was included in the agency’s “Global Prospects and Policy Challenges” report submitted to a meeting of finance ministers and central bank chiefs of [...]