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Country Report South Korea

  • ID: 2105439
  • Country Profile
  • Region: South Korea
  • 27 Pages
  • The Economist Intelligence Unit
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The Economist Intelligence Unit expects the president, Moon Jae-in, to complete his five-year term, ending in 2022. We forecast that the ruling Minjoo Party will increase its parliamentary representation at the 2020 election, improving policymaking in 2021-23.

Continued diplomatic engagement with North Korea will help to keep tensions low on the peninsula, but we do not expect denuclearisation of the North before the end of our forecast period (2019-23).

The current administration will pursue an ambitious demand-driven economic growth agenda through increased government spending and redistributive policies. However, the dominance of the chaebol (family-run industrial conglomerates) will continue in 2019-23.
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Country Report South Korea

Briefing sheet
Political and economic outlook
Key changes since April 12th
The month ahead
Major risks to our forecast

Outlook for 2019-23: Political stability

Outlook for 2019-23: Election watch

Outlook for 2019-23: International relations

Outlook for 2019-23: Policy trends

Outlook for 2019-23: Fiscal policy

Outlook for 2019-23: Monetary policy

Outlook for 2019-23: International assumptions

Outlook for 2019-23: Economic growth

Outlook for 2019-23: Inflation

Outlook for 2019-23: Exchange rates

Outlook for 2019-23: External sector

Outlook for 2019-23: Forecast summary

Outlook for 2019-23: Quarterly forecasts

Data and charts: Annual data and forecast

Data and charts: Quarterly data

Data and charts: Monthly data

Data and charts: Annual trends charts

Data and charts: Quarterly trends charts

Data and charts: Monthly trends charts

Data and charts: Comparative economic indicators

Basic data
Land area
Population
Main towns
Climate
Language
Measures
Currency
Time
Public holidays

Political structure
Official name
Form of state
The executive
Head of state
Legislature
National elections
National government
Main political organisations
Main members of the State Council
Key ministers
Central bank governor
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