Macroeconomic Forecast South Korea

March 2004 | Macroeconomic Forecasts

South Korea will be a two-speed economy for the next nine months at least. The domestic engine of growth will splutter (hampered by unemployment and high levels of indebtedness), but the external engine will accelerate healthily, with exports rising, the manufacturing sector recovering, and the carmaking industry getting back to normal following a spate of strikes and walkouts last year. Real GDP will rise 4.9% in 2004.

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