Republic of Korea: Staff Report for the 2015 Article IV Consultation

May 22, 2015

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Republic of Korea: Staff Report for the 2015 Article IV Consultation, (USA: International Monetary Fund, 2015) accessed December 21, 2024

Summary

This 2015 Article IV Consultation highlights that Korea’s growth momentum that had been building since early 2013 has stalled. Average quarterly growth rate declined to about 0.5 percent in the last three quarters of 2014 from about 1 percent in the previous four quarters. A turning point was the April 2014 Sewol ferry accident, which had a surprisingly large and persistent impact on consumer and investor sentiment. Growth is projected to be in a range centered about 3 percent in 2015. The main external risks include slower-than-expected growth in Korea’s main trading partners, the impact of a persistently weak yen on Korean export industries, and side-effects from the global financial conditions.

Subject: Economic and financial statistics, Exchange rates, Exports, External debt, Financial statements, Government finance statistics, Housing prices, International trade, Prices, Public financial management (PFM)

Keywords: CPI index, CR, Credit guarantee support, Debt, Exports, Financial statements, Firm, Global, Government finance statistics, Headline inflation, Headline PPI, Housing prices, ISCR, Liability positions vis-à-vis nonresident, Service sector productivity, SME, SME credit guarantee system

Publication Details

Pages:

63
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2015/130
Stock No:

1KOREA2015003
ISBN:

9781513555676
ISSN:

1934-7685

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