Date: 2002/12/12, 16:54:17
Name: ICT
IP: 218.145.173.145
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The Bank of Korea observed that Korean economy growth will attain 5.7% in year 2003. According to the prospect, moreover, the consumer's price will go up to 3.4% and current transaction account will be in the black about 30 billion dollors.
The Bank of Korea announced in 'The Prospect of Economy in 2003' on Dec 9 that private consumption may become dull but exports will maintain in high and the equipments investment will be retrieved.
This value is 0.5% lower than the growth prospect in '02(6.2%) but correspond to the latent growth rate(5.5~6.0%).
Due to slowdown in consumption in the first half of 2003, only 5.5% growth will be attained but in the second half of 2003, uncertainty of in-and-out will be relieved so that equipments investment increases and consumption recovers, which means 5.9% growth can be achieved.
The Bank of Korea observed that the exports will be increased 9.7% and the equipment investment 10.4% respectively.
On the other hand, private consumption growth rate will be down from 7.0% to 5.3% affected by repression of family loan and depreciation on real estate.
yagoo@hankyung.com [The Korea Economic Daily 2002.12.10]
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Korean Economy growth prospect in year 2003
Korean Economy growth prospect in year 2003
EPT News Letter from Japan, Oct 17, 2002
