{
  "title": "Republic of Korea: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Korea",
  "publication": "IMF Staff Country Reports, August 26, 2016",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/republic-of-korea-2016-article-iv-consultation-press-release-staff-report-and-statement-by-44201",
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  "summary": "This 2016 Article IV Consultation highlights that Korea’s growth has slowed after decades of impressive economic progress.",
  "sections": [
    {
      "heading": "Economic outlook",
      "content": "- Growth is projected to tick up to 2.7 percent in 2016 and 3.0 percent in 2017.\n- Inflation is expected to remain subdued.\n- The economy has slowed after decades of impressive economic progress."
    },
    {
      "heading": "Structural vulnerabilities and headwinds",
      "content": "- Identified structural headwinds:\n  - unfavorable demographic developments\n  - heavy export reliance\n  - pockets of corporate vulnerability\n  - labor market distortions\n  - lagging productivity\n  - high household debt\n- Inequality and poverty are also noted concerns."
    },
    {
      "heading": "Financial sector, credit, and prudential stance",
      "content": "- Credit is expected to continue to grow, partly reflecting the impact of interest rate cuts.\n- Credit growth is expected to be at a slower pace consistent with:\n  - the tightening of prudential measures\n  - the envisaged moderation in construction investment after 2017"
    },
    {
      "heading": "Subject matter and indices covered",
      "content": "- Balance of payments\n- Banking\n- Consumer price indexes\n- Current account surpluses\n- Economic and financial statistics\n- Fiscal policy\n- Government finance statistics\n- Prices\n- Producer price indexes"
    },
    {
      "heading": "Keywords highlighted in the report",
      "content": "- Consumer price indexes, core inflation, CPI index, CR\n- Current account surpluses\n- DTI cap, DTI ratio, DTI regulation\n- economy, export reliance, Global\n- Government finance statistics, headline PPI, holding\n- household debt, ISCR, labor-market distortion\n- liability positions vis-à-vis nonresident, Producer price indexes"
    },
    {
      "heading": "Key publication facts and identifiers (as provided)",
      "content": "- Pages: 90\n- Volume: 2016\n- Issue: 278\n- Series: Country Report No. 2016/278\n- Stock No: 1KOREA2016001\n- DOI: https://doi.org/10.5089/9781475529920.002\n- ISBN: 9781475529920\n- ISSN: 1934-7685\n\nRepublic of Korea: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Korea\n\n---\n\n Content in this bundle\n\n- cr16278\n  - cr16278 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr16278 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: August 26, 2016",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781475529920.002",
    "Growth is projected to tick up to 2.7 percent in 2016 and 3.0 percent in 2017.",
    "Inflation is expected to remain subdued.",
    "The economy has slowed after decades of impressive economic progress.",
    "Identified structural headwinds:",
    "Inequality and poverty are also noted concerns.",
    "Credit is expected to continue to grow, partly reflecting the impact of interest rate cuts.",
    "Credit growth is expected to be at a slower pace consistent with:",
    "DTI cap, DTI ratio, DTI regulation",
    "economy, export reliance, Global",
    "household debt, ISCR, labor-market distortion",
    "liability positions vis-à-vis nonresident, Producer price indexes",
    "Pages: 90",
    "Volume: 2016",
    "Issue: 278",
    "Series: Country Report No. 2016/278",
    "Stock No: 1KOREA2016001",
    "DOI: https://doi.org/10.5089/9781475529920.002",
    "ISBN: 9781475529920",
    "ISSN: 1934-7685",
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