The South Korean economy is noticeably sputtering, especially in comparison to stronger post-COVID recoveries elsewhere in Asia.
Korea’s exports are down 15 percent year-on-year. Meanwhile, interest rate hikes by the Bank of Korea (BOK) to stem inflation have been largely successful but have hit the country’s USD 107 billion housing market and construction industry especially hard. Housing prices fell in April for the eleventh straight month and are down about ten percent from their peak last summer. Residential real estate is the largest class of assets for most Korean households, so a drop in values can have a strong and negative wealth effect on household spending.
TAG Managing Partner Kurt Tong shares insights on a broad set of recent issues, including the “Donroe Doctrine”, Venezuela, Iran, ...
Scroll to Top
You Are Applying For:
South Korean Economy Facing Headwinds
Apply Now
Submit the details below, and our HR team member will get in touch with you shortly.
The Asia Group is an equal opportunity employer where an applicant’s qualifications are considered without regard to race, color, religion, sex, national origin, age, disability, veteran status, genetic information, sexual orientation, gender identity or expression, or any other basis prohibited by law. The Asia Group continually seeks to diversify its staff, particularly to broaden opportunities for individuals from demographic groups that are historically underrepresented in the strategic advisory profession.
Media
Commentary
South Korean Economy Facing Headwinds
The South Korean economy is noticeably sputtering, especially in comparison to stronger post-COVID recoveries elsewhere in Asia.
Korea’s exports are down 15 percent year-on-year. Meanwhile, interest rate hikes by the Bank of Korea (BOK) to stem inflation have been largely successful but have hit the country’s USD 107 billion housing market and construction industry especially hard. Housing prices fell in April for the eleventh straight month and are down about ten percent from their peak last summer. Residential real estate is the largest class of assets for most Korean households, so a drop in values can have a strong and negative wealth effect on household spending.
Listen on:
Related Posts
George Chen interviewed by CNBC on U.S.-Taiwan trade
Expert Corner: Is Donald Trump Heralding a Great Power-led, Sphere-of-Influence-Centric World Order? What Does It Mean for Businesses and Asia?
Ashok Malik quoted in NYT on Sergio Gor’s address
Kurt Tong talks China diplomacy in shifting world order on Bloomberg: The China Show