Analysis by Region - Asia Pacific - South Korea

We downgraded our 2025 growth forecast to 0.7% y/y after last week's Q1 GDP numbers, though this will only be reflected in May's base release. Economic activity was weak, at -0.1% y/y and -0.2% q/q sa, dragged down by exports and investment. We expect both to remain weak for the rest of 2025.


South Korea: Growth outlook dims as export growth weakens
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
Alternative long-run scenarios
Background
Economic development
Structure of the economy
Balance of payments and structure of trade
Policy
Politics

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