OECD Predicts South Korea's Potential Growth Rate Will Hit Record Low by 2027
On June 7, according to Yonhap News Agency, the Organization for Economic Cooperation and Development (OECD) stated on Sunday that despite the semiconductor industry's boom driving strong export growth in South Korea, the country's potential growth rate is expected to fall to a historic low next year. The OECD's latest data shows that South Korea's potential economic growth rate for 2027 is projected to be 1.52%, a significant decrease from this year's 1.66%. On a quarterly basis, South Korea's potential economic growth rate is expected to further decline to 1.46% by the fourth quarter of next year. If this occurs, it will mark the first time since the OECD began releasing such data that South Korea's projected potential growth rate falls below 1.5%.
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