Republic of Korea: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Korea

November 16, 2023

Preview Citation

Format: Chicago

Republic of Korea: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Korea, (USA: International Monetary Fund, 2023) accessed November 21, 2024

Summary

Korea faced challenges from inflation, growth slowdown, and financial stress in the wake of the pandemic. Growth started to slow in mid-2022 as global demand for electronics waned and domestic demand weakened but has begun to gradually recover in recent quarters. Headline inflation has declined from last year’s peak, though core inflation has remained more persistent. Pockets of financial vulnerability have emerged, but swift policy measures have helped to stabilize financial and housing markets. Despite having increased, systemic financial risks appear to remain manageable.

Subject: Financial institutions, Fiscal policy, Housing prices, Inflation, International organization, Monetary policy, Mortgages, Prices, Public debt

Keywords: Asia and Pacific, Global, Guarantee company, Headline GDP, Housing prices, Inflation, Liability positions vis-à-vis nonresident, Market condition, Market confidence, Mortgages, PPI manual

Publication Details

Pages:

103
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2023/369
Stock No:

1KOREA2023001
ISBN:

9798400259432
ISSN:

1934-7685

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