Republic of Korea : 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Korea

Author/Editor:

International Monetary Fund. Asia and Pacific Dept

Publication Date:

February 13, 2018

Electronic Access:

Free Full Text. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

A cyclical recovery is underway, with limited impact from the recent geopolitical tensions. Inflation has rebounded to around the Bank of Korea’s 2-percent target, although it displayed some volatility. The current account surplus narrowed in 2017, but is expected to remain large above 5 percent in the medium term. Potential growth has slowed down and its prospects are hampered by unfavorable demographics and slowing productivity growth, driven by structural weaknesses. Income equality and polarization are worsening, partly reflecting inadequate social protection as well as labor and product market duality. The government’s program aims to address impediments to growth and income inequality.

Series:

Country Report No. 18/40

Subject:

English

Publication Date:

February 13, 2018

ISBN/ISSN:

9781484341537/1934-7685

Stock No:

1KOREA2018001

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

55

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