[0]
A drop in private consumption is the main
reason the Korea Development Institute dropped
[4]
its growth forecast for this year.
This comes as consumers have been spending
[8]
less since the Sewol-ho ferry disaster last
month.
[12]
However, as we just reported.... Asia's fourth-largest
economy posted a record current account surplus
[17]
in the month of April.
[19]
The nation's economic picture doesn't look
all that clear to non-experts like myself...
[23]
let's turn to an expert for his assessment
of the Korean economy today.
[27]
For that, Dr. Yang Jun-sok joins me live via
Skype. Dr. Yang is a professor of economics
[34]
at the Catholic University of Korea.
[35]
Dr. Yang, thanks so much for joining us.
[38]
Dr. Yang, the think tank adjusted downward
its growth forecast for the Korean economy
[44]
this year... and the KDI is just one of a
few institutions that have lowered the growth
[51]
outlook for this country. Of course, slow
consumption had much to do with it.
[56]
How serious or how long will this economy
continue to feel the impact from
[111]
But, on the macro-side ---- as we reported
earlier in the newscast, the current account
[117]
surplus hit a record high in April.
What does that mean? A big current account
[120]
surplus doesn't necessarily mean a healthy
economy, does it?
[195]
concerned should we be about the local currency?
The robust current account surplus will lend
[200]
further support to the Korean won - which
is already up 3-point-3 percent against the
[206]
U.S. dollar this year.
[255]
Taking into account the slowdown in China
and an uneven recovery in the global economy
[259]
- do we expect the Korean economy to reach
the 3-point-7 percent this year?
[277]
Dr. Yang Jun-sok, professor of economics at
the Catholic University of Korea - thank you
[293]
so much for speaking with us this evening.
