Country Economic Forecasts - South Korea
The Korean economy is forecast to grow by 2.9% in 2018, marginally slower than the 3.1% outturn in 2017. Export growth is expected to remain robust – particularly when compared with the 2012-2016 period – despite some slowdown in demand from China. In turn, business investment, which rose by 14.6% in 2017 – the strongest outturn since the immediate post-financial crisis rebound in 2010 – is expected to remain robust in light of the buoyant external environment and easing risks on the peninsula. Indeed, the index of equipment investment published by Statistics Korea rose by 6.2% m/m in January alone, indicating strong momentum at the start of this year.