WASHINGTON, Apr. 18 (Korea Bizwire) — Exchange rate volatility does not present ‘significant” economic challenges to South Korea, an official at the International Monetary Fund (IMF) said Thursday, advising policymakers in Seoul not to “overly” focus on what moves the U.S. Federal Reserve will take. During a press briefing, Krishna Srinivasan, director of the IMF’s [...]
SEJONG, Nov. 28 (Korea Bizwire) – South Korea’s economy is expected to grow at a brisk 3.2 percent this year, faster than the earlier estimate of 2.6 percent, on the back of improving exports and corporate investment, a Paris-based international organization forecast Tuesday. For next year, the Organization for Economic Cooperation and Development (OECD) revised [...]
SEJONG, Nov. 10 (Korea Bizwire) – South Korea’s finance minister on Friday met with officials from the International Monetary Fund (IMF) and discussed the country’s economic and financial policies, the ministry here said. Finance Minister Kim Dong-yeon held a meeting in Seoul with the IMF mission led by Tarhan Feyzioglu, which has been on a [...]
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 [...]
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 [...]
SEOUL, Feb. 4 (Korea Bizwire) — South Korea’s foreign exchange reserves slipped in January from a month earlier as the currency value of the euro and the British pound weakened, data showed Wednesday. The country’s foreign exchange reserves reached US$362.2 billion as of the end of last month, falling $1.4 billion from December, according to Bank [...]
“A study claimed that Korea’s per-person gross domestic products will surpass that of Japan by 2020. As the per-capita GDP difference between the two countries is projected to be at the historic low level this year, it seems the journey to catching up with Japan has already begun.” “The International Monetary Fund recently forecast that [...]