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South Korea

Macroeconomy

Finance & Banking

Geostrategy

Key Indicators

Korea KOSPI Composite
Index Price Level
2104.18, 2102.41, 2135.78, 2095.51, 2111.5 2,111.5
Dollar exchange rate
Korean won/USD - South Korea
1116.2, 1116.76, 1130, 1128.24, 1125.16 1,125.16
KOR GDP
Constant Prices, Growth rate previous period, SA, % - South Korea
2.12, 1.43, 0.73, 0.54, 1.37 1.37
KOR ITS Exports f.o.b. total sa
Monthly Levels in US$, SA, USD (billions) - South Korea
39.36, 37.55, 40.85, 39.73, 36.51 36.51
BOP
Current Account, USD - South Korea
1929.8, 2114.4, 229, 1178.3, 1434.5 1,434.5
External Debt
Gross Total, USD - South Korea
401922, 411210, 407426, 366022, 359985 359,985
CPI
Total (2005=100) - South Korea
117.8, 118.9, 119.8, 120.4, 120.4 120.4
data by Factset

South Korea Outlook: Some Green Shoots

We upgrade our forecast to account for the upwardly revised global outlook, although domestic demand looks set to remain subdued and growth will remain below the precrisis trend. South Korea is near the top of RGE’s oil sensitivity index and its financial sector is more exposed to European bank deleveraging than most of its Asian peers, leaving the economy exposed to downside shocks in 2012-13. We now expect the Bank of Korea to begin hiking rates in Q4 2012, given its hawkish preference and improving external conditions.

Read the latest South Korea Outlook

Economic Research

Asia Weekly

Asia Enjoys a Respite From Inflation—for Now

By Ayoti Mittra, Michael Manetta and Adam Wolfe Mar 29, 2012

Asia Weekly

India, South Korea, Indonesia and Australia Outlook Highlights

By Ayoti Mittra, Michael Manetta, Kunal Kumar Kundu and Adam Wolfe Mar 22, 2012

Global Economic Outlook

Asia Outlook: Quantum of Solace

By Michael Manetta, Adam Wolfe, Ayoti Mittra and Kunal Kumar Kundu Mar 20, 2012

Central Bank Watch

Bank of Korea: Space Opening Up for a Late 2012 Hike

By Adam Wolfe Mar 14, 2012

Global Economic Outlook

South Korea Outlook: Some Green Shoots

By Adam Wolfe Mar 14, 2012

Asia Weekly

Asia Shows Signs of Change We Can Believe In

By Ayoti Mittra, Adam Wolfe and Michael Manetta Mar 1, 2012

Economic Research

What’s on Nouriel’s Mind: Why I’m Still Bearish

By Nouriel Roubini Feb 14, 2012

Asia Weekly

Can We Believe the January Numbers?

By Michael Manetta, Ayoti Mittra and Kunal Kumar Kundu Feb 9, 2012

Central Bank Watch

Central Bank Watch Focus: The Evolution of Emerging Market Monetary Policy

By Michael Manetta and the RGE Economic Research Team Feb 9, 2012

Central Bank Watch

Bank of Korea: The Hawk of Asia

By Adam Wolfe Feb 9, 2012

Asia Weekly

South Korea Inflation; Malaysia Monetary Policy; Indonesia GDP and Inflation

By Michael Manetta, Adam Wolfe and Ayoti Mittra Jan 26, 2012

Central Bank Watch

Bank of Korea: December Update

By Adam Wolfe Dec 15, 2011

Asia Weekly

South Korea, Indonesia and Australia Outlook Highlights

By Michael Manetta and Adam Wolfe Dec 15, 2011

Global Economic Outlook

Asia Outlook: The World Is Not Enough

By Adam Wolfe, Michael Manetta, Ayoti Mittra and Kunal Kumar Kundu Dec 9, 2011

Global Economic Outlook

South Korea Outlook: Drifting Into the Slow Lane

By Adam Wolfe Dec 8, 2011

Central Bank Watch

Bank of Korea: November Update

By Adam Wolfe Nov 17, 2011

Asia Weekly

India Inflation; Malaysia GDP

By Kunal Kumar Kundu, Ayoti Mittra and Adam Wolfe Nov 10, 2011

Asia Weekly

South Korea Monetary Policy; Philippines Exports; China GDP and Inflation

By Adam Wolfe, Michael Manetta and Mikka Pineda Oct 6, 2011

Global Economic Outlook

Asia Outlook Update: You Only Live Twice

By Adam Wolfe, Michael Manetta and Mikka Pineda Sep 19, 2011

Global Economic Outlook

South Korea Outlook Update: Growth Worries Trump Inflation Scares

By Adam Wolfe Sep 15, 2011

Central Bank Watch

Summary Table: RGE Policy Rate Forecasts and Market Interbank Rate Expectations

By Michael Manetta and the RGE Economic Research Team Aug 19, 2011

Central Bank Watch

Bank of Korea: August Update

By Adam Wolfe Aug 19, 2011

Asia Weekly

Outlook Updates for Australia, China, Malaysia, Pakistan, Singapore, South Korea, Taiwan and Vietnam

By Arpitha Bykere, Michael Manetta, Mikka Pineda and Adam Wolfe Jun 23, 2011

Global Economic Outlook

South Korea Outlook Update: Exports Save the Day

By Arpitha Bykere Jun 21, 2011

Asia Weekly

Australia, Indonesia, Korea and China Monetary Policy; China Trade; Philippines Inflation; Malaysia Industrial Production

By Michael Manetta, Mikka Pineda, Adam Wolfe and Arpitha Bykere Jun 2, 2011

Economic Research

Overheating Asia Yearns for Policy Coolants

By Arpitha Bykere, Michael Manetta and Adam Wolfe May 9, 2011

Asia Weekly

Australia and Singapore Inflation, South Korea and Taiwan Growth

By Michael Manetta, Mikka Pineda, Adam Wolfe and Arpitha Bykere Apr 21, 2011

Economic Research

Japan's Earthquake: Can the Growth Impact on EM Asia Be Discounted?

By Michael Manetta, Arpitha Bykere and Adam Wolfe Apr 12, 2011

Asia Weekly

Second-Round Price Effects Rising in Asia

By Arpitha Bykere, Michael Manetta, Adam Wolfe and Mikka Pineda Mar 24, 2011

Economic Research

South Korea’s Inflation Headache Unlikely to Ease Soon

By Arpitha Bykere Mar 24, 2011

Economic Research

New Risks to South Korea’s Export Outlook

By Arpitha Bykere Mar 24, 2011

Global Economic Outlook

South Korea Outlook: Rocky Road to Recovery

By Arpitha Bykere Mar 18, 2011

Global Economic Outlook

Asia/Pacific Outlook: Dreaming of Decoupling

By Arpitha Bykere Mar 18, 2011

Asia Weekly

Will Asia Heat Up as Winter Ends?

By Adam Wolfe, Arpitha Bykere, Michael Manetta and Mikka Pineda Feb 3, 2011

Economic Research

South Korea's Herculean Task of Getting on the Curve

By Arpitha Bykere Feb 3, 2011

Asia Weekly

Priorities Shift From Revving Growth to Reducing Inflation

By Michael Manetta, Mikka Pineda, Arpitha Bykere and Adam Wolfe Jan 27, 2011

Economic Research

Can Capital Controls Resolve Asia's Policy Trilemma?

By Adam Wolfe, Arpitha Bykere, Michael Manetta and Mikka Pineda Jan 24, 2011

Economic Research

Q4 2010 Marks South Korea’s Second Leg of Recovery

By Arpitha Bykere Jan 20, 2011

Economic Research

Still Not a Tiger: The Decline of Malaysia's Electronics Sector

By Michael Manetta Dec 29, 2010

Global Economic Outlook

Global Overview: 2011 Outlook

By Christian Menegatti, Nouriel Roubini and the RGE Macroeconomics Team Dec 7, 2010

Global Economic Outlook

South Korea: 2011 Outlook

By Arpitha Bykere Dec 7, 2010

Global Economic Outlook

Asia/Pacific: 2011 Outlook

By Arpitha Bykere Dec 7, 2010

Global Economic Outlook

Macro Forecasts: 2011 Outlook

By the RGE Macroeconomics Team Dec 7, 2010

Asia Weekly

Asia/Pacific Central Banks Chart the 2011 Course

By Mikka Pineda, Adam Wolfe, Arpitha Bykere and Michael Manetta Nov 25, 2010

Economic Research

South Korea: Getting Serious About Inflation Expectations

By Arpitha Bykere Nov 25, 2010

Asia Weekly

Shifting Economic Cycle Constrains Monetary Tightening

By Arpitha Bykere, Mikka Pineda and Michael Manetta Nov 11, 2010

Asia Weekly

Blazing Real Estate Markets Call for Regulatory Cooldown

By Arpitha Bykere, Adam Wolfe, Michael Manetta and Mikka Pineda Oct 21, 2010

Asia Weekly

Gradual Slowdown Calls for Policy Normalization

By Arpitha Bykere, Adam Wolfe and Mikka Pineda Oct 7, 2010

Asia Weekly

Weak Growth Outlook Discourages Asian Central Banks From Hasty Moves

By RGE's Asia Analyst Team Sep 23, 2010

Economic Research

September 29 and 30: South Korea Announces Exports, CPI

By Arpitha Bykere Sep 23, 2010

Global Economic Outlook

Global Overview: September 2010 Outlook Update

By Nouriel Roubini, Christian Menegatti and the RGE Macroeconomic Team Sep 10, 2010

Global Economic Outlook

South Korea: September 2010 Outlook Update

By Arpitha Bykere Sep 10, 2010

Asia Weekly

Policy Hits and Misses

By Arpitha Bykere, Adam Wolfe, Michael Manetta and Mikka Pineda Sep 2, 2010

Economic Research

Asia Week Ahead: Growth Concerns Outweigh Inflation Risks

By Arpitha Bykere, Michael Manetta, Mikka Pineda and Adam Wolfe Aug 26, 2010

Economic Research

Asia Week Ahead: Private Demand an Unlikely Antidote for Export Ailments

By Arpitha Bykere, Adam Wolfe, Michael Manetta and Mikka Pineda Aug 5, 2010

Economic Research

Asia Week Ahead: Skidding Exports to Keep Rate Hikes Gradual Despite Inflation

By Arpitha Bykere, Michael Manetta, Mikka Pineda and Rachel Ziemba Jul 29, 2010

Economic Research

Asia Week Ahead: Gradual Monetary Tightening to Continue Despite Signs of Slowdown

By Arpitha Bykere, Mikka Pineda, Michael Manetta and Adam Wolfe Jul 22, 2010

Global Economic Outlook

Asia/Pacific: Q3 2010 Outlook

By Arpitha Bykere Jul 12, 2010

Global Economic Outlook

South Korea: Q3 2010 Outlook

By Arpitha Bykere Jul 12, 2010

Economic Research

Asia Week Ahead: Export Outlook Looks Bright for Commodities, Dim for Manufacturers

By Arpitha Bykere, Mikka Pineda and Rachel Ziemba Jul 8, 2010

Economic Research

With Limited Options, EM Asia Turns to Prudential Measures to Tame Inflows

By Arpitha Bykere and Adam Wolfe Jul 6, 2010

Economic Research

Asia Week Ahead: Central Banks Weigh Tightening With G3 on Hold and Global Growth Slowing

By Arpitha Bykere, Mikka Pineda, Adam Wolfe and Rachel Ziemba Jul 1, 2010

Economic Research

Asia Week Ahead: Vulnerabilities to the EU Are Here to Stay

By Arpitha Bykere and Mikka Pineda Jun 17, 2010

Economic Research

Asia Week Ahead: Signs of Easing Growth Challenge Monetary Policy

By Arpitha Bykere, Mikka Pineda, Adam Wolfe and Rachel Ziemba Jun 3, 2010

Economic Research

Asia Week Ahead: Political Tensions, Easing Growth and Delayed Monetary Tightening

By Arpitha Bykere, Mikka Pineda, Adam Wolfe and Rachel Ziemba May 27, 2010

Global Economic Outlook

South Korea: Q2 2010 Outlook

By Arpitha Bykere Apr 12, 2010

Global Economic Outlook

South Korea: Q1 2010 Outlook

By Hyungyu Kim and Arpitha Bykere Jan 30, 2010

Economic Research

South Korea Economic Outlook, Q4 2009

By Jane Yoon Oct 7, 2009

Economic Research

South Korea Economic Outlook, Q3 2009

By Mikka Pineda Jul 24, 2009

Economic Research

East Asian Bank Sector Reform Since 1997

By Mikka Pineda Jul 22, 2009

Economic Research

South Korea on the Cusp of its Own Credit Crunch?

By Mikka Pineda Dec 11, 2007

Economic Research

Obama Tours Asia with a Full Agenda

By RGE Analysts Nov 18, 2007

EconoMonitors

Asia Channel

Central Banks: Contrasts in Asia-Pacific

Anantha Nageswaran Feb 15, 2012

Peterson Institute for International Economics

The KORUS Blues

Marcus Noland Feb 13, 2012

Asia Channel

The Korean Shocker

Anantha Nageswaran Feb 10, 2012

Geostrategy Channel

KORUS FTA: An Opportunity for Political Consensus Building and Job Creation

Thomas L. Fraser Oct 7, 2011

Geostrategy Channel

Tiger Mothers and the History of the Chinese Examination System

Rick Bookstaber Feb 17, 2011

Asia Channel

Capital Controls Gain Credence

Kavaljit Singh Sep 20, 2010

Geostrategy Channel

Looking Ahead to the Final Chapter of the North Korea Story

Fabius Maximus Aug 6, 2010

RGE Analysts

Asia Market Snapshot: Asian Stocks Fall as China Reaffirms Limiting Property Market Speculation

Ibrahim Gassambe Jul 13, 2010

Asia Channel

Emerging Markets Consider Capital Controls to Regulate Speculative Capital Flows

Kavaljit Singh Jul 8, 2010

Asia Channel

South Korea Imposes Currency Controls for Financial Stability

Kavaljit Singh Jun 16, 2010

Geostrategy Channel

Relations of Two Koreas Are Sinking with the Sunken Warship, What Next?

Hyungyu Kim May 12, 2010

Daily Digest

Opinions

[Editorial] Lee’s visit to Myanmar

Korea Herald  May 18, 2012

News

Gov't Boosts Support Measures for Young Entrepreneurs

The Chosunilbo  May 18, 2012

Opinions

Bankers see gold in graying baby boomers

Korea JoongAng Daily  May 18, 2012

News

Households' monthly income grows 6.9 pct in Q1

Yonhap News Agency  May 18, 2012

Opinions

Easy Economic Boost: More Women at Work

The Wall Street Journal  Evan Ramstad May 17, 2012

News

Exporters find FTA helpful: KCCI survey

The Korea Herald  Chung Joo-won May 17, 2012

News

Credit card spending up 15.9% in April

The Korea Times  May 17, 2012

News

South Korea Labor Force Grows as Unemployment Rate Unchanged

Bloomberg  Eunkyung Seo and Cynthia Kim May 16, 2012

Analysis

Economically Active Population Survey in April 2012

Statistics Korea  May 16, 2012

News

Korea Faces Halt of Oil Imports from Iran

The Chosunilbo  May 16, 2012

News

Labor unions withdraw support for UPP

The Korea Times  Lee Tae-hoon May 16, 2012

News

S.Korea's jobless rate falls to 3.5% in April

The Korea Herald  May 16, 2012

News

Overseas direct investment jumps in Q1

Yonhap News Agency  May 16, 2012

News

Banks’ short-run foreign borrowing falls in April

Korea JoongAng Daily  May 15, 2012

News

Report warns gov’t on tax revenue

Korea JoongAng Daily  May 15, 2012

News

Measures to boost real estate market fall flat

Korea JoongAng Daily  Lee Jung-yoon May 15, 2012

Analysis

Export/Import Price Indices during April 2012

The Bank of Korea  May 15, 2012

News

Import price gains hit over 2-year low in April

The Korea Times  May 15, 2012

News

S. Korea posts trade surplus of US$2.12 bln in April

Yonhap News Agency  May 15, 2012

News

Slack consumer spending drags down economy

Korea JoongAng Daily  May 14, 2012

News

Greenfield investments push foreign spending up

Korea JoongAng Daily  May 14, 2012

News

Banks' short-term foreign borrowing falls in April

Yonhap News Agency  May 14, 2012

News

S. Korea's trade terms fall to over 3-year low in Q1

Yonhap News Agency  May 14, 2012

News

China aims to seal free trade deal with S. Korea within 2 years

Yonhap News Agency  Kim Young-gyo May 14, 2012

News

Korea to grow 3.2% in 2012: KERI

The Korea Herald  May 11, 2012

News

Household debt rises in April led by moving costs

Korea JoongAng Daily  May 11, 2012

News

Pumping it up?

The Korea Times  Lee Hyo-sik May 11, 2012

News

BOK maintains key interest rate

Korea JoongAng Daily  May 11, 2012

News

South Korea central bank chief says no talk of rate cut

Business Recorder  May 10, 2012

News

BOK Holds Policy Steady; No Talk Of Possible Rate Cut

The Wall Street Journal  May 10, 2012

News

Bank of Korea Holds Rate for 11th Month on European Woes

Bloomberg  Eunkyung Seo May 10, 2012

News

Housing woes stimulate demand for reverse mortgages

The Korea Times  Kim Tong-hyung May 10, 2012

News

Eurozone woes grip global, Korean economies: minister

Yonhap News Agency  May 10, 2012

Analysis

Monetary Policy Decision(May 10, 2012)

The Bank of Korea  May 10, 2012

News

Gov't seeks to revive anemic housing market

Yonhap News Agency  May 10, 2012

News

BOK freezes key rate for 11th month in May

Yonhap News Agency  May 10, 2012

News

Asia Exports Slowdown Adds Pressure for Growth Measures

Bloomberg  Shamim Adam May 10, 2012

Analysis

Monetary and Liquidity Aggregates during March 2012

The Bank of Korea  May 09, 2012

Analysis

Financial Markets during April 2012

The Bank of Korea  May 09, 2012

News

S.Korean economy to grow 3.2 pct in 2012: think tank

Yonhap News Agency  May 09, 2012

News

Bank household loans rise in April

Yonhap News Agency  May 09, 2012

News

Producer price increases lose steam

Korea JoongAng Daily  May 09, 2012

News

Debts pile up at state-run firms

Korea JoongAng Daily  Lee Jung-yoon May 08, 2012

Analysis

Producer Price Index during April 2012

The Bank of Korea  May 08, 2012

News

Gov't plans to buoy domestic demand amid global woes

Yonhap News Agency  May 08, 2012

News

Waning price controls have household bills jumping

The Korea Times  Park Si-soo May 07, 2012

News

Euro zone crisis boon for Asian banks: S&P

The Korea Times  Kim Jae-won May 07, 2012

News

BOK is uncertain about economy

Korea JoongAng Daily  May 07, 2012

News

S. Korean banks' bad debt ratio rises in Q1

Yonhap News Agency  May 07, 2012

News

S. Korea's foreign reserves hit record high in April

The Korea Herald  May 03, 2012

News

Regional housing market shows signs of stalling

Korea JoongAng Daily  Lee Jung-yoon May 03, 2012

Opinions

Korea-China free trade deal

The Korea Times  May 03, 2012

Opinions

Baby boomers going bust

The Korea Times  Kim Tong-hyung May 03, 2012

Analysis

HSBC South Korea Manufacturing PMI - April 2012

Markit Economics  May 02, 2012

Analysis

Consumer Price Index in April 2012

Statistics Korea  May 02, 2012

Opinions

Is Korea’s recovery sustainable?

Korea JoongAng Daily  May 02, 2012

News

Produce immune to anti-inflation

Korea JoongAng Daily  Lee Jung-yoon May 02, 2012

News

Korea, China start discussions on FTA

The Korea Herald  May 02, 2012

Opinions

Soaring public sector debt

The Korea Times  May 02, 2012

Opinions

Inflation mirage

The Korea Times  Kim Tong-hyung May 02, 2012

News

Gov't overachieves budget spending target in first quarter

Yonhap News Agency  May 01, 2012

News

Korea lost 660,000 jobs on weak FDI: think tank

The Korea Herald  Park Hyong-ki May 01, 2012

News

Korea posts trade surplus of $2.2 bil. in April

The Korea Times  May 01, 2012

News

April's trade volume shrinks for second straight month

Yonhap News Agency  May 01, 2012

News

S Korea Govt: Too Early To Be Optimistic On Economic Conditions Ahead

The Wall Street Journal  Kanga Kong May 01, 2012

News

Consumer inflation slows in April

The Korea Times  May 01, 2012

News

South Korea’s Inflation Moderates to Lowest in 21 Months

Bloomberg  Eunkyung Seo May 01, 2012

News

Korea's consumer inflation slows in April

The Korea Herald  May 01, 2012

News

S. Korea's business sentiment moves up for May

Yonhap News Agency  Apr 30, 2012

News

The Industrial Activities in March 2012

Statistics Korea  Apr 30, 2012

News

S Korea Industrial Output Unexpectedly Contracts 3.1% In March

The Wall Street Journal  Kanga Kong Apr 30, 2012

News

South Korea Production Gains Slow as Europe Damps Exports

Bloomberg  Eunkyung Seo Apr 30, 2012

News

Businesses see light at end of tunnel

Korea JoongAng Daily  Apr 30, 2012

News

Census shows service sector fell out of step in 2010

Korea JoongAng Daily  Lee Jung-yoon Apr 30, 2012

Analysis

Quarterly Bulletin(March 2012)

The Bank of Korea  Apr 30, 2012

Analysis

Business Survey Index (BSI) for April 2012

The Bank of Korea  Apr 30, 2012

News

S. Korea's public sector debt jumps in 2011

Yonhap News Agency  Apr 30, 2012

News

Industrial output growth drops sharply in March

The Korea Times  Apr 30, 2012

News

OECD head urges Korea to reform labor sector

The Korea Times  Yi Whan-woo Apr 27, 2012

Opinions

Proceedings of Economic Review Meeting(2012.4)

The Bank of Korea  Apr 27, 2012

Analysis

Balance of Payments during March 2012 (preliminary)

The Bank of Korea  Apr 27, 2012

News

GDP growth at 30-month low: BOK

Korea JoongAng Daily  Apr 27, 2012

News

Gov't set to unveil steps to cut oil consumption

Yonhap News Agency  Apr 27, 2012

News

Korea's current account tops $3 billion in March

The Korea Herald  Apr 27, 2012

Analysis

South Korea: Growth Continues To Moderate In 1Q12

UOB Economic-Treasury Research  Ho Woei Chen Apr 26, 2012

News

S. Korean economy unlikely to recover fast: think tank

The Korea Herald  Apr 26, 2012

News

South Korean Growth Gets a Passing Boost

The Wall Street Journal  Apr 26, 2012

News

S. Korea's GDP grows 2.8 pct in Q1

Yonhap News Agency  Apr 26, 2012

News

S. Korean economy to grow 3.5 pct this year: OECD

Yonhap News Agency  Apr 26, 2012

News

Consumer Sentiment Improves for 4th Month

The Chosunilbo  Apr 26, 2012

News

S Korea: still growing

The Financial Times  Stefan Wagstyl Apr 26, 2012

News

South Korean growth slips to 2.8%

The Financial Times  Christian Oliver Apr 26, 2012