Watch the highlights of AMRO’s 2022 Annual Consultation Report on Korea.

The Korean economy is forecast to moderate to 1.7 percent in 2023. The economic outlook in the near term has deteriorated. Private consumption and exports are expected to decelerate, and facility investments to remain weak amid tighter financial conditions and weakening external demand. With energy and food prices likely to continue falling, headline inflation should gradually decline to an average of 3.3 percent in 2023.

Learn more from the 2022 Annual Consultation Report on Korea.