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2017³â 9¿ùºÎÅÍ´Â ´ÙÀÚ°£ Á¶¼¼Á¤º¸±³È¯ÇùÁ¤¿¡ µû¶ó ¿µ±¹, µ¶ÀÏ, ¹öÁø ¾ÆÀÏ·£µå, ¶óÆ®ºñ¾Æ µî Á¶¼¼Çdz­Ã³°¡ Æ÷ÇÔµÈ 50°³±¹°ú Á¶¼¼Á¤º¸¸¦ ±³È¯ÇÒ ¼ö ÀÖ¾î ÇùÁ¤ÀÇ È¿°ú°¡ ´õ Ä¿Áø´Ù. ÇÏÁö¸¸ ±¹È¸°¡ À̸¦ ó¸®ÇÒ Áö´Â ÀDZ¸½ÉÀÌ µç´Ù(µ¿¾ÆÀϺ¸, 2015.9.2. ÆíÁý).

5. ¿µ¾î·Î Àд Çѱ¹°æÁ¦

S. Korea needs structural reforms for continued growth

South Korea needs bold structural reforms to find new growth engines. China's rapid growth has helped Asian economies fare better than others so far, but such benefits are wearing thin. Doubts have been growing over whether South Korea will be able to maintain the extraordinary growth trend in the mid- and long term. In a situation where the manufacturing-centered growth is gradually nearing its limit, Korea should find new growth engines in service and other non-manufacturing industries. The international community has seen Japan, which had prospered in manufacturing, suffer depression for the past 20 years, which in turn spurred negative views about the future of South Korea's economy that has similar structure and latent problems similar to Japan's. South Korea is well aware that it can continue growth by fostering other industries, especially services industries, but has been unable to seek the transformation due to "ideological contentions and conflicts of interest relationships."(Aug. 25, 2015, Yonhap).

S. Korea's economy to achieve 3 pct growth in 2014

South Korea's economy will be able to grow by at least 3 percent this year, propped up by the government's expansionary fiscal policy and measures aimed at boosting its overall competitiveness. Originally, 3.8 percent growth may be possible for this year, but this was downgraded to 3.1 percent, after lackluster economic numbers. The government is also committed to pushing forward reforms in labor, finance, public and educational fields that can enhance the country's competitiveness(Aug. 25, 2015, Yonhap).

Economy recovering from Q2 slump despite weak exports

South Korea's economy is recovering from the second-quarter slump triggered by the Middle East Respiratory Syndrome(MERS) outbreak, but weak exports are weighing on its growth. The data also showed outbound shipments and industrial output all contracting, while weak growth in consumer prices is raising deflationary concerns. The government plans to keep close tabs on financial, foreign exchange and external market developments so it can respond quickly and decisively to cope with fallouts(Sept. 8, 2015, Yonhap).

China risk warrants limited threat to S. Korean exports

The slow growth of China's economy bodes ill for South Korea's outbound shipments, but it is unlikely to spell out an immediate threat such as the 1998 Asian financial crisis. A slowdown in the Chinese economy will inevitably lead to a dip in consumer sentiments there, which, in turn, may pull down South Korea's exports to the world's second-largest economy. China's slowing growth may also undermine South Korean exports in the long term as China may deviate from its traditional overseas markets to newly emerging countries to boost its own exports, further intensifying competition for South Korean products in such markets. However, chances of the China risk causing a global or regional crisis are slim as South Korea's economic fundamentals are continuing to improve while vulnerabilities in the global financial market also remain low(Sept. 7, 2015, Yonhap).

Public-sector debt ratio to fall below 200 pct this year

South Korea's public-sector debt ratio is expected to fall below the 200 percent mark in 2015 for the first time in five years thanks to reforms and measures taken to enhance state companies' fiscal health. The total debt will likely stand at 496.6 trillion won (US$421 billion) by year's end, down 1 trillion won from a year earlier. This will push down their combined ratio of debt to net worth to 197 percent from the 216 percent last year. The debt ratio for state corporations shot up to 206 in 2011 from 170 percent a year earlier and soared to 230 percent in 2012-2013, but numbers have been falling after the government started reigning in expenditures as of last year. In the long term, public sector debt will rise to 508.2 trillion won in 2016 but will remain more or less stable at 507-510 trillion won from 2017 through 2019(Sept. 16, 2015, Yonhap).

S&P raises S. Korea's sovereign rating to AA-

Global credit appraiser Standard & Poor's (S&P) raised South Korea's sovereign rating one notch from A+ to AA-. The move reflects the view that Asia's fourth-largest economy will likely maintain growth performance superior to most developed economies in the next three to five years. The country's favorable policy environment, sound fiscal position and net external creditor status contributed to the change. S&P also gave the country a long-term rating outlook of "stable." AA- is the fourth-highest rating in S&P's evaluation scheme and one notch below the AA status held by countries like France and Belgium. The latest upgrade places South Korea on the same levels as China, Taiwan and Japan on S&P's rating scheme, although Japan has a negative long-term outlook(Sept. 15, 2015, Yonhap).

'Zombie companies' on rise in S. Korea

A growing number of South Korean companies failed to generate enough operating profit to pay tax and interest payments on their debt. The number of listed companies that logged pre-tax operating loss last year amounted to 541 companies, or 31.1 percent of the total, rising to the highest level in five years, adding 30 firms from 2010(Sept. 20, 2015, Yonhap).

BOK governor says further rate cut possible due to growing uncertainties

The chief of South Korea's central bank acknowledged a further reduction of the country's key interest rate may become necessary depending on economic conditions, saying the current rate is not the lowest possible limit. Following four rounds of rate cuts, the country's policy rate has remained at the record low of 1.5 percent since June this year. The low interest rate was intended to help revitalize the local economy amid growing uncertainties stemming from an economic slowdown in China and a looming U.S. rate hike(Sept. 17, 2015, Yonhap).

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