Economic Challenges Ahead

The South Korean Ministry of Economy and Finance has highlighted growing concerns over the nation's economic stability, citing 'increasing' downward pressures. These challenges stem from a noticeable slowdown in exports, attributed to global trade uncertainties, and a worrying drop in domestic consumption.

External and Internal Factors

According to the ministry's Green Book, external conditions have deteriorated, primarily due to US tariff policies, which have directly impacted export performance. Internally, the recovery of domestic demand remains sluggish, with the job market facing persistent difficulties, especially in vulnerable sectors.

Government Response

In response to these challenges, the South Korean government plans to execute a 13.8 trillion-won ($9.9 billion) extra budget. This initiative aims to support export companies, enhance industrial competitiveness, and stimulate the domestic economy.