Economy

Seoul- Amid a backdrop of mounting global economic challenges, South Korea finds itself in a complex economic predicament. While the International Monetary Fund (IMF) has held its 2023 growth outlook for the nation steady at 1.4%, projections for the subsequent year indicate a significant downturn. IMF's Projections

South Korea, once hailed as one of the top 10 economies by nominal GDP, has recently witnessed a decline in its global standing. Last year, the country's nominal GDP was provisionally ranked 13th worldwide, failing to secure a spot in the top 10 for three consecutive years. As

In a striking deviation from the global norm, the International Monetary Fund (IMF) has for the fifth time since July of the previous year, slashed its forecast for South Korea's economic growth rate for 2023 to 1.4%. This move diverges from the IMF's broader perspective,

In the interconnected world of global finance, the shifting tides of currency values often bring about far-reaching ripple effects. At the heart of these financial undercurrents, the foreign exchange market – the world's largest financial market – sees a dynamic and intricate dance of fluctuating currency values. In the case

As the world navigates the remnants of the global COVID-19 pandemic, South Korea finds itself caught in a confluence of economic headwinds. Known for its 'Miracle on the Han River', South Korea transformed from one of the poorest countries in the world to an advanced high-income economy in

South Korea - Bank of Korea Governor Rhee Chang-yong has stated that it is too early to begin discussing rate cuts, despite the central bank being among the first to pause its tightening cycle. This has led to market speculation about potential rate cuts, but Rhee believes these expectations are