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2017 Growth strategy : Korea

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  • 2017 Growth strategy
  • Federal Ministry of Finance
  • Federal Ministry of Finance


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Title 2017 Growth strategy
Similar Titles
Sub Title

Korea

Material Type Reports
Author(English)

Federal Ministry of Finance

Publisher

[Berling],[Germany] : Federal Ministry of Finance

Date 2017-06
Pages 21
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Economic Conditions
Economy < Economic Administration
Holding Federal Ministry of Finance
License

Abstract

In 2016, the Korean economic growth remained robust in general led by a recovery in domestic demand including consumption and construction in spite of difficult internal and external circumstances such as global low growth and political uncertainties. This year, the Korean economy shows signs of recovery owing to a pick-up in the global economy. Its export has turned to recovery thanks to good performance of flagship export items such as semiconductor and display. In line with this, plant and equipment investment seem likely to rebound. Although consumption has slowed down to some extent since the end of last year, it appears to make a turnaround as economic sentiments are gradually improving more recently. Regarding the employment sector, the total number of employed people is on the rise and consumer prices have continued to grow since the latter half of 2016 mainly due to a base effect of low oil prices last year.