Republic of Korea: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of KoreaInternational Monetary Fund No 2016/278, IMF Staff Country Reports from International Monetary Fund Abstract: This 2016 Article IV Consultation highlights that Korea’s growth has slowed after decades of impressive economic progress. The economy is facing a number of structural headwinds, including unfavorable demographic developments, heavy export reliance, pockets of corporate vulnerability, labor market distortions, lagging productivity, and high household debt. Inequality and poverty are also of concern. Growth is projected to tick up to 2.7 percent in 2016 and 3.0 percent in 2017, with inflation remaining subdued. Credit is expected to continue to grow, partly reflecting the impact of interest rate cuts, but at a slower pace consistent with the tightening of prudential measures and the envisaged moderation in construction investment after 2017. Keywords: ISCR; CR; economy; DTI regulation; export reliance; holding; household debt; headline PPI; labor-market distortion; CPI index; liability positions vis-à-vis nonresident; DTI ratio; DTI cap; core inflation; Government finance statistics; Consumer price indexes; Current account surpluses; Producer price indexes; Global (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:imf:imfscr:2016/278 Ordering information: This working paper can be ordered from Access Statistics for this paper More papers in IMF Staff Country Reports from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC. |
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