South Korea - Economist Intelligence Unit - The Economist
DOMESTIC POLITICS: The president, Lee Myung-bak of the ruling GNP, has his work cut out if he is to steer the economy through the current downturn and maintain support among the electorate. Signs in recent months that the economy is stabilising are beginning to make him look a little more like the competent chief executive that he once was for the construction arm of a South Korean chaebol (conglomerate), Hyundai, instead of the hapless and blundering figure that he has cut for most of his uncomfortable 18 months in office. The president will also continue to face pressures to promote unity, both within the GNP and between his party and the main opposition Democratic Party.
Country Forecast Overview (3 Year)
| Key Indicators |
2008 |
2009 |
2010 |
| Real GDP Growth (%) |
1.80 |
-1.30 |
2.60 |
| Consumer Price Inflation (av;%) |
4.67 |
2.80 |
2.60 |
| Budget Balance (% of GDP) |
1.16 |
-4.50 |
-4.70 |
| Current-Account Balance (% of GDP) |
-.68 |
3.80 |
3.00 |
| Exchange Rate US$:Euro (av) |
1102.05 |
1296.88 |
1222.75 |
| Exchange Rate US$:Euro(year-end) |
1259.50 |
1260.00 |
1215.00 |
South Korea GDP PPP & GDP Growth Rates
2004 - 2008
| Year |
GDP in Billions of USD PPP |
% GDP Growth |
| 2004 |
1,041.22 |
3.95 |
| 2005 |
1,096.74 |
3.51 |
| 2006 |
1,192.54 |
4.30 |
| 2007 |
1,301.60 |
4.60 |
| 2008 |
1,358.97 |
1.80 |
Source: EIU Country Data
South Korea: risk assessment
| Risk |
October 2009 |
| Sovereign risk |
BB |
| Currency risk |
BB |
| Banking sector risk |
BB |
| Political risk |
BBB |
| Economic structure risk |
BBB |
|
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