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Economy faces downside risks as Covid cases rise: KDI

The Korean economy is facing increasing downside risks as the uptick in Covid-19 cases is delaying the recovery of private spending amid heightened uncertainty about the global economic recovery, a state-run think tank said Thursday.

2021-10-07

Economic uncertainty still on the rise: KDI

Korea's economy is under pressure over growing headwinds as a recent spike in Covid-19 infections is likely to delay a recovery of domestic consumption, a state-run think tank said Tuesday.

2021-09-07

Virus spike could threaten economic recovery, KDI says

The economic recovery could face a setback as Covid-19 case numbers rise and the Delta variant threatens the country, a government think tank warned.

2021-07-07

KDI expects economic growth of 3.8% this year

The Korea Development Institute (KDI) raised its growth outlook for this year from 3.1 percent to 3.8 percent. However, a sluggish vaccine program and weakness in the domestic market continue to be major risks to robust growth.

2021-05-13

Public companies awash in debt that government backs

The KDI says that in 2017 the debt of these companies was already 23.5 percent of GDP, the highest among the 33 member nations of the Organization of Economic Cooperation and Development (OECD), where the average that year was 12.8 percent.

2021-04-20

Third wave of Covid worsened domestic economy: KDI

The spike of Covid-19 that escalated in November and continues today has left a major scar on the domestic economy, according to the latest assessment by the state-owned think tank.

2021-02-07

No singing allowed

A sign on the door of a coin noraebang, or booth-type singing room, in downtown Seoul on Monday informs customers of a brief closure during December.

2020-12-28

About a third of relief money went to consumer spending

Only about 30 percent of the government's first emergency relief grants were used for consumer spending, the Korea Development Institute (KDI) reports.

2020-12-23

2020 growth outlook stable at minus 1.1%, but 2021 cut

The Korea Development Institute (KDI) on Wednesday lowered next year’s growth projection citing the resurgence of coronavirus pandemic in major countries including Europe. The KDI forecast the economy to expand 3.1 percent in 2021.

2020-11-11

KDI lowers growth estimate for year to -1.1%

The Korea Development Institute lowered its estimate for economic growth again as the coronavirus crisis continues to depress consumer spending. The think tank forecast the economy to shrink 1.1 percent. In May, it projected a 0.2 percent growth.

2020-09-08

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