
Recently, both domestic and international economic forecasting institutions have been predicting that Korea’s economic growth rate this year will fall below 1 percent. On May 14, the Korea Development Institute (KDI) projected the country’s growth rate at 0.8 percent. The Bank of Korea (BOK) is also expected to sharply lower its current forecast of 1.5 percent when it releases its revised economic outlook on the 29th. According to the Korea Center for International Finance (KCIF), the ave...