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  1. OECD Economic Surveys: Korea
  2. Volume 2010
  3. Issue 012
  4. OECD Economic Surveys: Korea 2010
  5. Chapters
  6. Assessment and recommendations
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Volume 2014
Volume 2012
Volume 2010
Issue 012
OECD Economic Surveys: Korea 2010
Chapters
Executive summary
Assessment and recommendations
Sustaining the recovery from the global financial crisis by promoting Korea's medium-term growth potential
Macroeconomic policy. the exit from fiscal and monetary stimulus.
The Korean financial system. overcoming the global financial crisis and addressing remaining problems.
Health-care reform in Korea
Korea's green growth strategy. mitigating climate change and developing new growth engines.
Volume 2008
Volume 2007
Volume 2005
Volume 2004
Volume 2003
Volume 2001
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Volume 1996
Volume 1994

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Content Provider OECD iLibrary
Organization OECD
Abstract Korea has achieved one of the fastest recoveries in the OECD area from the global recession. Korea’s trade-dependent economy had initially been hard hit by severe global financial distress in late 2008, leading to exceptionally sharp declines in exports and output. The recession was accompanied by financial turbulence that widened risk premia and tightened bank lending attitudes. Large capital outflows pushed down equity prices but the resulting depreciation of the won – by 25% in effective terms during the six months from August 2008 – combined with strong demand from China laid the foundation for an export-led recovery. Indeed, Korea became the ninth-largest exporter in the world in 2009, from 12th in 2008, and its current account surplus rose to 5% of GDP. Korea’s strong recovery, together with its chairmanship of the G20 in 2010, have significantly raised its profile in the global economy.
Page Count 9
Starting Page 11
Ending Page 19
Language English
Publisher OECD Publishing
Publisher Date 2010-07-01
Access Restriction Open
Subject Keyword Economics
Content Type Text
Resource Type Chapter
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