Democratic Party (DP) leader Lee Jae-myung met with the chief executives of Korea’s six major banks on Monday as his party turns its focus to economic issues.
The Bank of Korea cut its growth forecast for this year from 1.9 percent to 1.6 to 1.7 percent in a rare January disclosure, citing concerns over contracting consumer sentiment on the back of political uncertainties.
Korean economy faces multiple headwinds in the wake of a leap year effect. Tripartite Cooperation in Joint Consultative body is urgently needed.
Korea reported a current account surplus for the seventh consecutive month in November on the back of solid sales of semiconductors, central bank data showed Wednesday.
Tumbling stocks, a tanking currency and tepid economic momentum sets Korea up for one of its hardest years, with internal and external factors posing a threat to growth.
With the economy minister now tasked with running the government, the precarious state of the Korean economy faces a precipice, buffeted by crisis after crisis.
The country needs to fix politics before it ruins the economy for good.
Lee must learn from the repeated failures of past leaders.
Korea's main business lobby said Wednesday it has sent letters to 33 global counterparts calling for them to support the Korean economy amid the political turmoil following President Yoon Suk Yeol's botched martial law declaration this month.
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