Annual Consultation Reports
Annual Consultation Reports are prepared by AMRO staff in accordance with the core functions of AMRO to monitor and assess the macroeconomic status and financial soundness of its member economies; identify relevant risks and vulnerabilities; report these to member authorities; and if requested, assist them in mitigating these risks through the timely formulation of policy recommendations.
April 4, 2023
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.