Executive Board
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Board Discussions
on the Republic of Korea:

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January 10, 2014
August 27, 2012
July 29, 2011
August 25, 2010
August 7, 2009

Article IV Staff Reports

Financial Sector Assessment Program

Projected % Change
   2014  2015
Real GDP 3.7 4
Consumer Prices 1.6 2.4
Source: World Economic Outlook (October 2014)
Please refer to more recent PIN/Staff reports on this country for possible revisions.

Republic of Korea: Financial Position in the Fund

Transactions with the Fund


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Republic of Korea and the IMF
Updated October 31, 2014

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IMF Survey Online
June 06, 2014 -- IMF Survey : Lagarde Calls for Greater Focus on Empowerment
More must be done to empower people to achieve their potential, IMF Managing Director Christine Lagarde says in a London speech. She states that a vibrant economy must be built from the bottom up, from the empowerment of every single individual.
February 24, 2014 -- IMF Survey : IMF to Strengthen its Standing in Region, says new Asia Head
The IMF should be like a family doctor who has an ongoing, close relationship with the patient, and not an emergency physician who appears only at times of crisis, suggests the new Director of the IMF’s Asia and Pacific Department.
January 16, 2013 -- IMF Survey: Big and Small Financial Systems in Spotlight in 2013
What do Switzerland and the Kyrgyz Republic have in common? Both will get visits from teams of International Monetary Fund experts in 2013 to examine the safety and stability of their financial systems.
October 13, 2012 -- IMF Survey: Asian Youth Speak Out
Young people need greater voice in the global economic debate as they will inherit the legacy of choices made today, IMF Deputy Managing Director Nemat Shafik told a seminar on Asian youth held during the 2012 IMF–World Bank Annual Meetings in Tokyo.
October 12, 2012 -- IMF Survey: Asian Youth Speak Out
Young people need greater voice in the global economic debate as they will inherit the legacy of choices made today, IMF Deputy Managing Director Nemat Shafik told a seminar on Asian youth held during the 2012 IMF–World Bank Annual Meetings in Tokyo.
September 19, 2012 -- IMF Survey: Korea Confronts Global Headwinds with Strong Fiscal Position
Korea must guard against risks to its economic growth, particularly those posed by a possible escalation of the European debt crisis. But its strong fiscal position—including its relatively small public debt—and a robust institutional framework leave it well placed to tackle threats to growth, say IMF economists.
August 04, 2011 -- IMF Survey: Korea: Robust Expansion, But Further Tightening Needed
After weathering the global economic crisis, Korea’s economy is now expanding above potential. But, the IMF says in its regular review of the economy, the robust performance of this heavily export-dependent country is giving rise to worries about risks from overheating.
March 03, 2011 -- IMF Survey: Important Milestone Reached to Reinforce IMF Legitimacy
A package of measures, agreed in 2008 to strengthen the representation of dynamic economies in the IMF, has come into force. The reform provides for quota increases for 54 countries, with the largest gains going to emerging market countries. The reform will also enhance the influence of low-income countries in the IMF's decision-making.
November 05, 2010 -- IMF Survey: IMF Board Approves Far-Reaching Governance Reforms
The IMF’s Executive Board approves far-reaching reforms of the way the IMF is run, a week before the Leaders of the Group of Twenty industrialized and emerging market economies are due to meet in Seoul, Korea, to discuss how best to strengthen the global recovery.
October 23, 2010 -- IMF Survey: G-20 Ministers Agree ‘Historic’ Reforms in IMF Governance
Ministers of the Group of Twenty industrialized and emerging market economies agree on proposed reforms that will shift country representation at the IMF toward large, dynamic emerging market and developing countries. European members of the IMF’s Executive Board will make room for more emerging market representation.
September 09, 2010 -- IMF Survey: Debt Managers Navigate Post-Crisis Risks
Officials managing trillions of dollars in government debt face anxious financial markets as concerns over sovereign risks and high public debt levels weigh on investors. Debt managers meeting in Stockholm in July agreed a set of principles for effective and transparent debt management.
September 01, 2010 -- IMF Survey: IMF Urges Korea to Shift from Crisis Response to Medium-Term Challenges
Having recovered strongly from the global financial crisis, Korean authorities should now shift their focus from crisis management to paving the way for strong and sustainable growth, say IMF economists.
July 14, 2010 -- IMF Survey: Crisis Triggered Historic Financial Sector Changes—Banker
The recent financial crisis has severely damaged the standing of the Western world and accelerated the shift eastward in economic and geopolitical power, according to top banker Josef Ackermann. The Deutsche Bank head tells the Asia 21 Conference of “seismic shifts” boosting Asia’s importance.
July 13, 2010 -- IMF Survey: Reconstructing the World Economy
As the world emerges from the worst crisis in decades, a new IMF book presents a number of proposals for improving the stability of the global economy.
July 13, 2010 -- IMF Survey: Asia and IMF Forge Stronger Partnership
Wrapping up a two-day conference on Asia’s future, IMF Managing Director Dominique Strauss-Kahn announces a set of commitments, labeled the “Daejeon Deliverables,” that he says will significantly strengthen the Asia-IMF partnership in a year that South Korea chairs the Group of Twenty.
July 12, 2010 -- IMF Survey: 'Second Engine of Growth' to Bolster Asian Leadership
Asia is playing an increasingly prominent role in the world economy, but to sustain its strong performance it needs to develop a “second engine of growth,” IMF Managing Director Dominique Strauss-Kahn says at the opening of a two-day conference in Korea titled "Asia 21: Leading the Way Forward."
July 12, 2010 -- IMF Survey: IMF Chief Works to Transform Fund's Image in Asia
The head of the IMF addresses head on the thorny subject of the Asian crisis, describes how the Fund can help its Asian members, and reveals his human side with an explanation of his reasons for choosing economics as a career.
July 09, 2010 -- IMF Survey: Conference to Focus on Asia’s Leadership Role in Global Economy
The IMF is hoping to renew its relationship with Asia. In a bid to boost Asia’s role and voice in the global economy, the IMF and the government of Korea will host a landmark conference July 12-13 in the Korean city of Daejeon.
July 08, 2010 -- IMF Survey: IMF Redefining Its Relationship with Asia
The IMF’s efforts to a forge a stronger, more collaborative partnership with Asia shift into top gear in the next two weeks, with a series of events in the region that include a conference co-hosted by the government of Korea and the IMF.
July 08, 2010 -- IMF Survey: World Recovery Continues, But Risks Increase, Says IMF
Balancing the strong growth numbers for the first half of 2010 and the adverse impact of renewed financial turbulence, the IMF forecasts world growth to rise 4 ½ percent this year, but new uncertainties pose risks to financial stability and cast a cloud over the outlook
July 07, 2010 -- IMF Survey: IMF Chief Signals New Chapter in Ties with Asia
IMF Managing Director Dominique Strauss-Kahn welcomes more than 20 ambassadors from Asia to a reception at the IMF’s Washington headquarters, ahead of a key conference in South Korea that the IMF hopes will signal a new chapter in relations with this dynamic region.
July 01, 2010 -- IMF Survey: Asia: Launching Pad for Tomorrow's Emerging Markets
Following in the footsteps of Asia’s dynamic emerging markets, low-income countries in the region are poised to become tomorrow’s emerging markets. This will help to propel Asia’s global economic leadership as it becomes the world’s largest economic region in about 20 years.
June 27, 2010 -- IMF Survey: G-20 Leaders Aim for Balanced Growth, Revival of Jobs
G-20 leaders backed measures to sustain the global recovery and said they would work together to encourage economic growth, promote job creation, and enhance global prosperity while strengthening the financial system and curbing worrying public deficits.
June 19, 2010 -- IMF Survey: IMF to Reinforce Two-Way Partnership With Asia
The Korean government and the IMF are jointly hosting a high-level international conference on Asia in Daejeon, Korea, July 12–13. The goal is to strengthen the two-way partnership and learning experience between Asia and the Fund, IMF Asia and Pacific Director Anoop Singh says in an interview.
February 25, 2010 -- IMF Survey: Post-crisis Rethink at Asia Conference
Top policymakers and academics from around Asia and G-20 countries have been meeting in Seoul to debate some of the most pressing issues to emerge from the worst economic slump since the Great Depression.
January 14, 2010 -- IMF Survey: Global Recovery Seems Stronger, But Still Fragile, Says IMF
October 06, 2009 -- IMF Survey: Several Countries Provide Funding to IMF for Poorer Nations
Several countries step forward to provide additional funding to support the IMF’s concessional lending to low-income countries that have been battered by the global economic crisis. IMF Managing Director Dominique Strauss-Kahn welcomes these commitments, and calls on other nations to come forward.
August 09, 2009 -- IMF Survey: IMF Presses Korea to Continue Rebalancing Economy
The IMF expects the Korean economy to grow by 2½ percent in 2010 but calls on the authorities to continue with efforts to reorient the economy away from exports toward the domestic service sector.
August 09, 2009 -- IMF Survey: IMF Presses Korea to Continue Rebalancing Economy
The International Monetary Fund expects the Korean economy to grow by 2½ percent in 2010 but calls on the authorities to continue to reorient the economy away from exports toward the domestic service sector.
March 27, 2009 -- IMF Survey: World Faces Crisis Crossroads at G-20 Summit, Says IMF
The world is at a crossroads as it faces its greatest economic crisis in 60 years, IMF Managing Director Dominique Strauss-Kahn says during a trans-Atlantic video news conference. G-20 leaders who meet in London on April 2 have the opportunity to spur a recovery next year if they take the right action.
February 06, 2009 -- IMF Survey: Stimulus Measures Bolstering Demand Amid Crisis, IMF Says
Most of the world's leading advanced and emerging market economies have adopted stimulus measures to counter the growing financial and economic crisis, according to an analysis by the IMF that estimates the collective impact on growth of around ½ -1¼ percentage points.
February 05, 2009 -- IMF Survey: IMF Urges G-20 States To Take More Decisive Action to Combat Crisis
The IMF urges the Group of Twenty industrialized and emerging market countries to take more decisive policy action to combat the corrosive global financial and economic crisis by bolstering demand and cleaning up the financial sector.