IMF Staff Country Reports

Republic of Korea: 2007 Article IV Consultation: Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for the Republic of Korea

Publication Date:

October 11, 2007

Electronic Access:

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Summary:

This 2007 Article IV Consultation highlights that the Republic of Korea is enjoying its longest uninterrupted period of economic expansion since the Asian crisis. Growth reached 5 percent in 2006, buoyed by strong exports, and is only expected to slow marginally to 4¾ percent this year. The current account is expected to remain broadly in balance. The impact of the ongoing global financial turbulence has so far been manageable but downside risks to the outlook have increased, with the nascent consumption recovery vulnerable to a downturn in asset markets.

Series:

Country Report No. 2007/344

Subject:

Expenditure External debt Financial institutions Mortgages Pension spending Public debt