SEOUL, Nov. 17 (Korea Bizwire) — The International Monetary Fund (IMF) recommended South Korea maintain a restrictive monetary policy to bring inflation under control, though the country is expected to reach its inflation target of 2 percent by the end of next year. The organization made the call in its report on the South Korean [...]
SEOUL, April 21 (Korea Bizwire) — The International Monetary Fund (IMF) said Tuesday that South Korea’s overall financial system appears resilient, but it warned of growing vulnerabilities. The IMF said most parts of South Korea’s banking system appear prudentially strong, but prospects for banks and insurers are dimming due to growth-related uncertainties, low interest rates, [...]
SEOUL, Dec. 3 (Korea Bizwire) — Expectations that South Korea will achieve 3 percent growth and per capita income of US$30,000 are on the rise for 2018 fueled by the strengthening of the global economy, market watchers said Sunday. Observers said that the upbeat forecast is based on gains in exports in the new year [...]
SEOUL, Nov. 21 (Korea Bizwire) — An extended period of slow growth and steady increase in household debt could spark an economic crisis in South Korea, which suffered a financial crisis two decades ago, economists said Tuesday. Seven out of 10 economists stated they believe the country could face an economic crisis within the next [...]
SEJONG, Nov. 14 (Korea Bizwire) — More than half of South Korean people think the 1997 Asian financial crisis had an adverse impact on the economy, society and their daily lives, a survey showed Tuesday. Twenty years ago, Asia’s fourth-largest economy experienced a slump in its currency and a sharp devaluation in its stock markets [...]
Washington, D.C., Oct. 24 (Korea Bizwire) – The director of the IMF’s Asia and Pacific Department, Rhee Chang-yong, has said though South Korea faces high household debt levels compared to other OECD member states, the level of indebtedness does not pose an imminent threat. Speaking to the press on Monday at the Korean Cultural Center in Washington [...]
SEOUL, Aug. 6 (Korea Bizwire) — South Korea’s per capita gross domestic (GDP) is expected to edge past Italy’s in 2018, the government predicted Sunday, based on growth forecast data. The prediction, if it is met, will place the country’s per capita GDP at slightly more than US$30,000 and just over that of the European [...]
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 [...]
SEJONG, Apr. 19 (Korea Bizwire) — The International Monetary Fund (IMF) on Tuesday raised its forecast for South Korea’s economic growth this year to 2.7 percent thanks to clear signs of a turnaround in the global economy. The latest forecast is up 0.1 percentage point from the 2.6 percent growth the agency estimated in its [...]
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 [...]