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ASEAN+3 Macroeconomic Research Office

MEMBER ECONOMIES

Korea

Latest Projections

Projected GDP Growth (2024):

0%

Projected Inflation Rate (2024):

0%
Updated as of October 2024
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Annual Consultation Reports

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Annual Consultation Reports
AMRO’s 2023 Annual Consultation Report on Korea
The near-term outlook for the Korean economy has improved, supported by the recovery of exports, and inflation is expected to decline further toward the target.
Annual Consultation Reports
AMRO’s 2022 Annual Consultation Report on Korea
The Korean economy has recovered strongly from the pandemic, led by robust export growth and a strong rebound in private consumption. However, inflation remains elevated and the economic outlook in the near term has deteriorated amid tighter financial conditions and weakening external demand.
Annual Consultation Reports
AMRO’s 2021 Annual Consultation Report on Korea
Korea’s economy is forecast to rebound strongly in 2021 led by a strong global recovery and robust demand for electronics, autos and other manufactured products.
Annual Consultation Reports
AMRO’s 2019 Annual Consultation Report on Korea
After a moderation in 2019, Korea’s economic growth is expected to pick up to 2.2* percent in 2020, supported by a rebound of demand for memory chips led by 5G installation in many countries.
Annual Consultation Reports
AMRO’s 2018 Annual Consultation Report on Korea
The Korean economy is projected to grow at 2.7 percent in 2018 and moderate to 2.6 percent in 2019.
Annual Consultation Reports
AMRO’s 2017 Annual Consultation Report on Korea
The 2017 Annual Consultation Report on Korea provides an assessment of the state of the Korean economy in 2017, short-term economic outlook, risks and vulnerabilities facing the economy, and policy recommendation.

What’s New

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Press Releases
Korea: Supporting Growth While Safeguarding Stability
The Korean economy is forecast to grow at 2.2 percent in 2024 before moderating to 1.9 percent in 2025, reflecting increased uncertainty in the global economic environment.
Events
2nd AMRO Financial Excellency Workshop
The workshop was organized by AMRO for the Financial Services Commission (FSC) of Korea, and aims to promote collaboration and knowledge sharing between FSC and AMRO.
Events
AMRO-KCIF Roundtable on ASEAN+3 Financial Stability Report (AFSR) 2024
As part of the AFSR’s outreach campaign, this event is a platform for regional central bank policymakers, the academia, think tanks, and Financial Services Industry (FSI) experts to weigh in on the findings of the AMRO flagship report.
Videos
Spotlight on Korea: Highlights from AMRO's 2023 Annual Consultation Report on Korea
Watch the highlights of AMRO's 2023 Annual Consultation Report on Korea.
Press Releases
Korea Should Maintain Tight Monetary Policy and Continue Fiscal Consolidation to Safeguard Macroeconomic Stability
Korea's economy is forecast to rebound to an above-potential rate of 2.3 percent in 2024, supported by continued strengthening in goods exports, especially semiconductors.
Working Papers
A Small Open Economy Model to Assess Macroeconomic Policy Performance: The Case of Korea
This paper estimates and simulates a small open economy model for assessing Korea's monetary and fiscal policy performance between 2005 and 2022.