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Economic Report

Economic reports, briefs issued by Samsung Economic Research Institute

Korea’s Ten Major Trends in 2013

Korea’s Ten Major Trends in 2013

KIM Seung-Pyo, JUNG Tae-Soo, LEE Dong-Hun, RHEE Tae-Hwan
SHIN Changmock, LEE Eunmi, JEON Hyo-Chan, KIM Sun-Bin
LIM Soo-Ho, KIM Jeung-Kun

Jan. 21, 2013

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In 2013, Korea will come under increased pressure to change its paradigms due to low growth and the wish list of a new administration. Slow recovery of the global economy and lackluster domestic demand has stalled Korea’s main growth engines. With little improvement expected, Korea will continue to fall short of its growth potential. Risks from high household debt will compound the difficulties.

President Park Geun-Hye’s focus on reducing social polarization and improving quality of life will likely lead to a slew of new institutions and infrastructures to promote social integration. On the diplomatic front, a more conciliatory tone by the new administration should improve the chances of improved inter-Korean and US-North Korea relations and the possibility of renewed contacts and negotiations. The reconfiguration trend will also hit the business community, where companies will accelerate efforts to adjust their operating model to cope with long-term, low growth.

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