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[Economic Trends]
Economic Trends
Date
2022.06.13
Views
2218
Here’s a look at Korea’s major economic indicators that provide an overview of the recent economic developments.
※ Source: International Monetary Fund (IMF), Bank of Korea (BOK), Korea International Trade Association (KITA), Ministry of Trade, Industry and Energy (MOTIE)
Korea added 865,000 jobs year-on-year in April 2022 and the unemployment rate fell by 1.0%p from a year ago to 3.0%. Consumer prices grew by 4.8 % year-on-year due to the continued increase in oil prices, and core inflation rose by 3.6%.
Stock prices decreased in April out of concerns for the US Federal Reserve’s interest rate hike, the Russia-Ukraine war and global inflation, while the Korean won weakened and Korea treasury yields picked up. Housing price growth eased in March, and prices of Jeonse (lump-sum deposits with no monthly payments) declined.
While consumption is expected to pick up due to continued recovery of employment and lifting of social distancing restrictions, concerns that the longer-than-expected Russia-Ukraine war and the resulting supply chain disruptions could undermine investment, restrict export recovery, and continue to cause high inflation.
Stock prices decreased in April out of concerns for the US Federal Reserve’s interest rate hike, the Russia-Ukraine war and global inflation, while the Korean won weakened and Korea treasury yields picked up. Housing price growth eased in March, and prices of Jeonse (lump-sum deposits with no monthly payments) declined.
While consumption is expected to pick up due to continued recovery of employment and lifting of social distancing restrictions, concerns that the longer-than-expected Russia-Ukraine war and the resulting supply chain disruptions could undermine investment, restrict export recovery, and continue to cause high inflation.
※ Source: Ministry of Economy and Finance (moef.go.kr)(moef.go.kr)