South Korean Economists Anticipate Prolonged Low Economic Growth

Seoul – A recent poll indicates that nearly three-fourths of South Korean economic experts expect the country's economic growth to stay in a low range over an extended period, amidst various overseas risks.

According to Yonhap News Agency, which involved 211 professors of economics and business administration, 73.2 percent of the respondents believe South Korea's economy will grow by only 1 to 2 percent for a considerable duration. This outlook reflects growing concerns over the long-term economic trajectory of Asia's fourth-largest economy.

The survey, commissioned by the Korea Enterprises Federation, revealed diverse forecasts among the experts. Approximately 14 percent of participants anticipate the growth rate to climb into the 2-percent range next year, followed by an average increase to the 3 percent band starting in 2025. Conversely, 11 percent of those surveyed expect a temporary surge in the growth rate to the 3 percent range, but predict it will quickly fall back to between 1 and 2 percent.

A small fraction of the respondents, about 1.4 percent, were more optimistic, suggesting that the economy could rapidly improve and grow in the 3 percent range starting from the next year.

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