Republic of Korea: Staff Report for the 2006 Article IV Consultation

October 24, 2006

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Republic of Korea: Staff Report for the 2006 Article IV Consultation, (USA: International Monetary Fund, 2006) accessed September 19, 2024

Summary

Korea has enjoyed strong growth owing to rapidly increasing exports and consumption. Potential growth is slowing as the population ages, whereas social polarization is growing. Korea should implement plans to build an advanced financial system and improve service productivity by opening the sector to more competition and enhancing small firms’ access to finance. It should also address the prospective long-term deterioration of the fiscal position owing to population aging by tackling the health care and pension problems, and increase labor market flexibility.

Subject: Balance of payments, Banking, Current account balance, Economic sectors, Exports, External debt, Financial sector, Inflation, International trade, Prices

Keywords: CR, Current account balance, Draft budget, Economy, Exports, Financial sector, Global, Government policy, Inflation, Inflation regime's stability, ISCR, Korea-EFTA free trade trade agreement, Market development, Percent, Percent in September, Soft landing, Staff appraisal

Publication Details

Pages:

50
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2006/380
Stock No:

1KOREA2006001
ISBN:

9781451822199
ISSN:

1934-7685

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