Analysis by Region - Asia Pacific - South Korea
We kept our 2024 GDP growth forecast for South Korea at 2.4%. We expect sequential GDP will pick up in the following quarters from a soft Q2 outturn. AI-fuelled exports will be the main source of dynamism in the economy as domestic demand momentum remains subdued. We see downside risks to our 2.2% GDP growth forecast for 2025, should the semiconductor cycle turn before we expect due to weaker global demand.
- South Korea: Bank of Korea's easing cycle start is imminent
- Forecast overview
- Recent developments
- Short-term outlook
- Key drivers of our short-term forecast
- Economic risk
- Economic risk evaluation
- Risk warnings
- What to watch out for
- Exposure to key global risks
- Long-term prospects
- Background
- Economic development
- Structure of the economy
- Balance of payments and structure of trade
- Policy
- Politics
Research Assistance
Download our eBook: How to Succeed Using Market Research
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook