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Economists Predict Slower Growth for South Korean Economy in 2025: Survey


Seoul: South Korean economists anticipate the country’s economy to grow at a slower pace than the government’s forecast this year, a survey showed Sunday. In a survey of 100 economics professors at local universities by the Global Research Group, the experts said the economy will likely expand 1.6 percent this year, according to the Korea Enterprises Federation (KEF).



According to Yonhap News Agency, the figure is lower than the growth outlook of 1.8 percent earlier forecast by the finance ministry. The survey also showed that 64 percent of the respondents expect economic growth to be stagnant for “quite a while.” None of those surveyed expected the economy to grow at a faster pace than the government forecast, while 35 percent said the economy will likely decline for a while and then gradually recover.



Asked about the possible impact of the U.S. policy shift under the Donald Trump administration, 83 percent said Trump’s protectionist trade policies will negatively influence the South Korean economy, which has a high dependence on exports. Over 90 percent of the economists also called for measures to reform the labor market and regulations in order to boost the global competitiveness of local businesses and foster growth, according to the KEF.

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