IMF Staff Country Reports

Republic of Korea: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Korea

Publication Date:

November 16, 2023

Electronic Access:

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Summary:

Korea faced challenges from inflation, growth slowdown, and financial stress in the wake of the pandemic. Growth started to slow in mid-2022 as global demand for electronics waned and domestic demand weakened but has begun to gradually recover in recent quarters. Headline inflation has declined from last year’s peak, though core inflation has remained more persistent. Pockets of financial vulnerability have emerged, but swift policy measures have helped to stabilize financial and housing markets. Despite having increased, systemic financial risks appear to remain manageable.

Series:

Country Report No. 2023/369

Subject:

Financial institutions Fiscal policy Housing prices Inflation International organization Monetary policy Mortgages Prices Public debt

Frequency:

regular