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Reporter : Kim Jae-kyoung
Sat, September 23, 2023 | 12:40
'Korean economy to bottom out after 2020'
South Korea is expected to face a further economic downturn due to multiple downside risks, such as the global slowdown and a possible hard landing of the Chinese economy, Hyundai Research Institute said, Sunday. The private think tank said that the Korean economy will bottom out after 2020.
Per-capita GDP forecast to top $30,000
Korea is expected to see its per capita gross domestic product (GDP) exceed $30,000 this year and surpass $40,000 in 2023, according to the National Assembly Budget Office (NABO), Thursday.
Korea urged to reform labor market
President Moon Jae-in should reform the job market and develop the services sector to reverse the dismal unemployment situation and rehabilitate the Korean economy, a Washington-based economic expert said Wednesday.
Fitch skeptical of Moon's income-led growth
Fitch Ratings is moving to downgrade its growth outlook for South Korea due to weak consumer sentiment and worsening factors abroad, the global credit ratings agency said Monday. It added that President Moon Jae-in's income-led growth strategy has its foundation in good intentions but won't be able to address Korea's structural issues, such as low productivity.
[INTERVIEW] Korea should brace for global slowdown
South Korea should prepare for a global slowdown as the world economy is set to enter an initial phase of downturn, a noted global economist warned, Monday.
Moody's worried over Korea's growth strategy
This is the second in a series of interviews with economic experts to analyze the state of the Korean economy and make policy suggestions. ― ED. Economist says income-led growth policy may hurt employment By Kim Jae-kyoungA “tricky strategy” is how Moody's Analytics describes President Moon Jae-in's income-led growth policy as it voiced some concern.The econo...
Dismissal of statistics chief draws criticism
The sudden dismissal of the Statistics Korea chief is drawing suspicion that the administration is seeking to pressure the state agency to submit “tailored” statistics to support its income-led growth strategy.
Gov't fighting 'losing battle' for jobs
The government is fighting a “losing battle” in creating jobs with wrong policies based on a series of stop-gap measures, analysts said, Sunday.
MBK anxiously wants to sell ING to Shinhan: sources
MBK Partners, a local private equity giant, seemingly wants to sell ING Life Insurance before the end of the year after holding onto the insurance company for five years, multiple sources said Tuesday. Shinhan Financial Group has been in talks with the firm to acquire ING since April when it filed a public disclosure that it is considering the acquisition. However, a Shinhan ...
Korea backpedals on financial reforms
The financial industry is the Achilles' heel of the Korean economy. While manufacturing has driven growth as the backbone of the economy, finance has remained inwardly-focused and globally uncompetitive as one of the most highly regulated industries in Korea. The sector urgently needs a major overhaul but Seoul is backpedaling on financial regulatory reforms, which many belie...
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