OECD Economic Surveys: Korea 2012
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OECD Economic Surveys: Korea 2012

OECD's 2012 Economic Survey of Korea examines recent economic developments, policies and prospects. In addition, it includes special chapters covering sustaining convergence to the highest-income countries and promoting social cohesion.
Publication Date :
26 Apr 2012
DOI :
10.1787/eco_surveys-kor-2012-en
 
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Authors:
OECD
Pages :
8–9
DOI :
10.1787/eco_surveys-kor-2012-2-en

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Despite the recent slowdown in world trade, Korea is projected to sustain growth of around 3½ per cent during 2012. Given future spending pressures, fiscal policy should target a balanced budget (excluding the social security surplus). However, if the global economy were to experience a serious downturn, Korea has scope to respond with fiscal stimulus, given its strong fiscal position, and monetary policy easing. Looking further ahead, Korea faces two key challenges...