Go to content


SERI Economic Forecasts

SERI’s Outlook Report and Video Forecasts on Economics, Industry and Society

Outlook for the Korean Economy in the Second Half of 2009

Outlook for the Korean Economy in the Second Half of 2009

June 4, 2009

Download Outlook for the Korean Economy in the Second Half of 2009 PDF email Print

Korean financial markets are rapidly stabilizing amid easing uncertainty in the global financial system. The KOSPI has rebounded to the 1,400 mark, while the won/dollar exchange rate has fallen below 1,300. The yield on AA- corporate bonds also has declined, moving below 6%, which reduced the credit spread, i.e., its gap with government bond yields, and improved funding conditions of blue chip companies with high credit ratings. However, the real economy continues to stagnate. Korea eked out a first quarter GDP growth rate of 0.1%, the only member country in the OECD to post a positive figure this year. Nevertheless, most real economic indicators remain weak. Job losses have touched nearly 200,000 on monthly average while export growth rates hover around minus 20%.

For full text, click the PDF icon above.
Go to list