Korea's Economy
From the Issue
Korea's Economy 2006About Korea's Economy
Korea’s Economy is KEI’s annual journal publication dedicated to the key issues of the day for the Korean economy. Articles in Korea’s Economy are designed to give the casual, but informed reader insight into issues related to Korea’s markets and financial institutions, economic reform, economic relations with the wider world, and North Korea. It is published jointly each year with the Korea Institute for International Economic Policy.
After two years of sluggish growth, the Korean economy is now recovering. Economic activity began to revive in the early part of 2005 and accelerated throughout the year, reaching an annualized rate of nearly 7.5 percent in the third quarter, its fastest pace since 2003. What is encouraging is that the recovery is being led by household spending. After remaining dormant for almost two years, private consumption has now expanded for six straight quarters.