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ASEAN+3 Macroeconomic Research Office

MEMBER ECONOMIES

Korea

Latest Projections

Projected GDP Growth (2023):

0%

Projected Inflation Rate (2023):

0%
Updated as of July 2023

Annual Consultation Reports

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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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Blogs
The Rise and Fall of Kimchi Premium in Korea’s Virtual Asset Market
With a market capitalization of KRW23 trillion by H1 2022, Korea has been a hotspot for the virtual asset market due to lucrative returns on virtual asset trading, the so-called “Kimchi premium”.
Blogs
How the Bank of Korea Could Best Respond to The Fed’s Tightening Policy
As a highly open economy, Korea is sensitive to unexpected shifts in the U.S. monetary policy stance.
Blogs
BOK’s and Riksbank’s Pilot Studies: While Retail CBDC Would Yield Manifold Benefits, More Work Needs to Be Done
Key takeaways from the Bank of Korea and the Riksbank's pilot projects.
Blogs
What Makes the Korean Won Move? Key Drivers to Watch
During 2022, the Korean won (KRW) exchange rate was highly volatile as the U.S. economy emerged from the pandemic and the U.S. dollar (USD) strengthened following the hawkish policy stance of the U.S. Federal Reserve.
Multimedia
Watch: Spotlight on Korea
Press Releases
Korea: Recalibrating Policies to Anchor Inflation and Support the Economy
The Korean economy has recovered strongly from the pandemic, led by robust export growth and a strong rebound in private consumption.