eseoulpost
BusinessEconomy
IMF chief says S. Korean economy likely to grow 3 pct this year
min  |  min
폰트키우기 폰트줄이기 프린트하기 메일보내기 신고하기
승인 2017.09.11  
트위터 페이스북 미투데이 요즘 네이버 구글 msn
   

International Monetary Fund (IMF) chief Christine Lagarde expressed optimism Monday about the future of the South Korean economy as she forecast Asia's fourth-largest economy to grow 3 percent this year.

The assessment is in line with South Korea's growth outlook for 2017. In July, South Korea raised its target growth to 3 percent from 2.6 percent, citing export-led growth.

She said the South Korean economy could also expand 3 percent growth in 2018.

"I believe the Korean economy is extremely resilient and has demonstrated resilience in the face of adversity," Lagarde, wearing a red outfit, said in a news conference in the press center in Seoul.

She made the comments amid heightened tensions on the Korean Peninsula over North Korea's sixth and most powerful nuclear test earlier this month.

The United Nations Security Council is likely to vote this week on further tightening sanctions on North Korea, a move that has prompted Pyongyang to warn that the U.S. will suffer the "greatest pain" if it pushes ahead with the tougher U.N. sanctions.

Lagarde -- who visited the Demilitarized Zone that separates South and North Korea -- said she sees every downside in the escalation of the tensions, and every upside in trying to resolve those tensions and trying to re-establish certainty rather than uncertainty.

"I am confident that the economy will stand and hopeful that the situation will be resolved in a positive way," Lagarde said.

She also said the South Korean economy has the space to target the medium-term challenges of the financial safety net of the elderly people, and of the women's contribution to the economy, saying that Seoul can significantly improve on facilitating the access of women and young people to the job market.

South Korea has taken a series of steps in recent years to try to bring stay-at-home moms back to work.

About half of South Korean women at work quit their jobs in 2016 due mainly to marriage, pregnancy and childbirth, according to the government. South Korea's female labor participation is among the lowest in the world, as many women leave work to raise children.

"We believe that by combining integration of women, innovation, having a fair competition playing field, very, very good developments can occur in the Korean economy. So we are overall optimistic about the future of the Korean economy in spite of the external threats that it addresses with your resilience," Lagarde said.

She also said a hike in the minimum wage could make people spend more and kick-start additional consumption.

"It's going to rebalance the growth model towards that," she said.

Still, she said that "you need to be balanced and cautious and move reasonably and in accordance with the pace of the economy as well," citing her experience as the former French finance minister.

"There's a good saying in ancient Greek, which is 'Haste slowly.' So, change, yes, but measure such change so that they can effectively be efficient and not lead to exclusion."

   In July, a tripartite commission of the South Korean government, labor and management reached an agreement to increase the minimum hourly wage to 7,530 won (US$6.68) in 2018, up 16.4 percent from the current 6,470 won. (Yonhap News)

< 저작권자 © eseoulpost 무단전재 및 재배포금지 >
폰트키우기 폰트줄이기 프린트하기 메일보내기 신고하기
트위터 페이스북 미투데이 요즘 네이버 구글 msn 뒤로가기 위로가기
이 기사에 대한 댓글 이야기 (0)
자동등록방지용 코드를 입력하세요!   
확인
- 200자까지 쓰실 수 있습니다. (현재 0 byte / 최대 400byte)
- 욕설등 인신공격성 글은 삭제 합니다. [운영원칙]
이 기사에 대한 댓글 이야기 (0)
Most Read
1
‘Bring home a friend’ for the holidays — Teo
2
“2017 International Environmental Partnership Conference” slated for September 25, 2017 in Taipei
3
Teo asserts PHL role in world tourism
4
UAE at the forefront of efforts to revitalise United Nations
5
Louvre Abu Dhabi officials meet museum partners in France ahead of public opening in November
6
IAEA DG urges member states to engage in Abu Dhabi Ministerial Conference on Nuclear Power
7
UAE takes part in a high-level meeting on Libya in New York
8
UAE donates US$10m to help recovery efforts in Florida following Hurricane Irma
9
Saudi Ambassador: Relations between the Kingdom and UAE are exceptional, well established
10
S. Korean president urges int'l efforts to implement sanctions against N. Korea
Photo News Green Biz
Global platform for smart & sustainable cities officially  launched in Seoul
Global platform for smart & sustai...
min
Global platform for smart & sustainable cities to be launched by World Green Economy Organisation (WGEO) in Seoul on May 23
Global platform for smart & sustai...
min
50 successfully rehabilitated sea turtles released for Endangered Species Day
50 successfully rehabilitated sea ...
min
UAE is well placed to take lead in renewable energy storage
UAE is well placed to take lead in...
min
Bee’ah’s campaign for ‘Recycling Just Got Easier’ sparks community action
Bee’ah’s campaign for ‘Recycling J...
min
Photo News Sports
Cebu to host Ironman 70.3 Asia-Pacific C’ship anew   in 2018
Cebu to host Ironman 70.3 Asia-Pac...
min
PyeongChang Olympics wins new strongest ally -- the president
PyeongChang Olympics wins new stro...
min
Official mascot of FIFA Club World Cup UAE 2017 unveiled
Official mascot of FIFA Club World...
min
Official FIFA Club World Cup UAE 2017 mascot to be unveiled Tuesday
Official FIFA Club World Cup UAE 2...
min
Badminton tournament opens for multicultural families
Badminton tournament opens for mul...
min
UAE Jiu-Jitsu Federation announces Abu Dhabi Grand Slam
UAE Jiu-Jitsu Federation announces...
min
Sharjah’s Al Manal Forum Lauds Key Media Support for Sports of People with Disabilities
Sharjah’s Al Manal Forum Lauds Key...
min
Zayed bin Hamdan bin Zayed crowns winners of Dalma Dhow Race
Zayed bin Hamdan bin Zayed crowns ...
min
Photo News World
Cebu to host Ironman 70.3 Asia-Pacific C’ship anew   in 2018
Cebu to host Ironman 70.3 Asia-Pac...
min
PyeongChang Olympics wins new strongest ally -- the president
PyeongChang Olympics wins new stro...
min
Official mascot of FIFA Club World Cup UAE 2017 unveiled
Official mascot of FIFA Club World...
min
Official FIFA Club World Cup UAE 2017 mascot to be unveiled Tuesday
Official FIFA Club World Cup UAE 2...
min
Badminton tournament opens for multicultural families
Badminton tournament opens for mul...
min
UAE Jiu-Jitsu Federation announces Abu Dhabi Grand Slam
UAE Jiu-Jitsu Federation announces...
min
Sharjah’s Al Manal Forum Lauds Key Media Support for Sports of People with Disabilities
Sharjah’s Al Manal Forum Lauds Key...
min
Zayed bin Hamdan bin Zayed crowns winners of Dalma Dhow Race
Zayed bin Hamdan bin Zayed crowns ...
min
Photo News Opinion
Lotte scion to sell most of stakes in key affiliates
Lotte scion to sell most of stakes...
min
S. Korea not considering tactical nuclear armament: Cheong Wa Dae
S. Korea not considering tactical ...
min
Seoul says THAAD necessary to bring N. Korea to dialogue
Seoul says THAAD necessary to brin...
min
McDonald's Korea head expresses regret over 'patty scandal'
McDonald's Korea head expresses re...
min
PM: THAAD deployment 'difficult yet inevitable decision'
PM: THAAD deployment 'difficult ye...
min
Additional THAAD launchers to be deployed Thursday: villagers
Additional THAAD launchers to be d...
min
Court hands down 4-yr prison term to ex-spy chief over election meddling
Court hands down 4-yr prison term ...
min
Moon calls for capabilities to counter N. Korea's 'asymmetric' threats
Moon calls for capabilities to cou...
min
Newspaper AboutNews ReportAdvertiseComplaintsPrivacy PolicyJuvenile protectionRejection of E-mail Collection
Gangnam-gu, Teheran 52 street in Tehran Bldg, 616(Yeoksam-dong)  |  Main Phone: 02) 563-0604  |  Fax: 02) 538-5665
Chairman : jeong-woo Lee  |  Advisor : byung-il Min  |  Publisher: jae-mo Kah  |  Editors: il-hong Kim
Registration Number 1928 Seoul ah  |  eseoulpost.com / eseoulpost.net / Global Korea.,Ltd
Copyright © 2011 eseoulpost. All rights reserved. mail to jaemokah@daum.com , kih10kr@empas.com/ www.globalkorea.info
arabafrica.net / UAE Interract / Emirtes News Agency(WAM)/ http://wam.org.ae / www.uaeinteract.com