ASEAN+3 Macroeconomic Research Office

Spotlight on Korea: Highlights from AMRO's 2023 Annual Consultation Report on Korea

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Watch the highlights of AMRO’s 2023 Annual Consultation Report on Korea.

The Korean economy is forecast to rebound strongly with a 2.3% GDP growth this year, supported by exports, especially semiconductors. Headline inflation is expected to continue its downward trend toward the 2% target by the end of 2024. AMRO recommends authorities to maintain tight monetary policy until there are clear signs of disinflation toward the target level. To boost long-term growth, strengthening innovation, human resource development and supply chain resilience should be prioritized.

Download the full report here.