OECD ups Korea's growth forecast to 2.6 percent

The OECD raised Korea's growth forecast to 2.6 percent due to strong chip demand and rebounding exports.

2024-05-02

IMF lifts Korea's 2024 economic growth forecast to 2.3%

The International Monetary Fund (IMF) inched up its forecast for Korea’s economic growth this year, anticipating a soft landing for the global economy.

2024-01-31

IMF trims Korea's 2023 growth forecast to 1.4 percent

International Monetary Fund lowered Korea’s growth outlook by 0.1 percent to 1.4 percent for this year in its latest forecast released Tuesday despite an upgrade for the global economy.

2023-07-25

Korea's 2023 growth forecast cut to 1.8 percent by KDI

The new projection is much lower than the state-run think tank's 2.3 percent forecast released in May and is much lower than the government's 2.6 percent, the Bank of Korea's 2.1 percent and the International Monetary Fund's 2 percent.

2022-11-10

Asian Development Bank slashes 2023 growth outlook for Korean economy to 2.3%

The Asian Development Bank (ADB) on Wednesday slashed its 2023 growth outlook for the Korean economy to 2.3 percent amid growing concerns that monetary tightening in the United States and other major countries will likely slow down global economic...

2022-09-21

2022 growth forecast lowered to 2.3 percent by the IMF

The International Monetary Fund (IMF) cut its 2022 economic growth outlook for Korea to 2.3 percent. The projection dropped by 0.2 percentage points from the fund's forecast in April.

2022-07-27

Central bank holds rates steady, adjusts up GDP forecast

Bank of Korea held the base rate steady at 0.5 percent on Thursday, maintaining the record-low figure for the sixth straight month as Covid-19 uncertainty lingers.

2020-11-26

BOK cuts rates and growth estimate to minus 0.2%

The Bank of Korea (BOK) cut the benchmark interest rate by 25 basis points Thursday, bringing it to a historic low of 0.5 percent. It also revised the country’s growth outlook to minus 0.2 percent this year, a shuddering drop from its 2.1

2020-05-28

BOK cuts base interest rate to record low of 0.5%

The Bank of Korea (BOK) cut the benchmark interest rate by 25 basis points Thursday, bringing it to a historic low of 0.5 percent.