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  • KDI Monthly Economic Trends 2020. 12
  • Date December 07, 2020
  • Language Korean/English
PDF Major Indicators
    Major Economic Indicators

    Summary and Assessment

    Major Indicators of the Korean Economy

    1. Gross Domestic Product
      (at 2015 Constant Prices)

    2. Economic Activity

    3. Consumption

    4. Equipment Investment

    5. Construction Investment

    6-1. Exports, Imports and Terms of Trade

    6-2. Current Account and Financial Account

    7. Employment and Wage

    8. Price Indices

    9-1. Financial Market (I)

    9-2. Financial Market (II)

    10-1. Major Indicators of the World Economy (I)

    10-2. Major Indicators of the World Economy (II)
■ Despite a recovery in the manufacturing industry owed to improvements in overseas demand, the Korean economy is continuing to slow due to the rapid resurgence of Covid-19.

○ Coronavirus continues to spread globally, but its limited impact on the demand for commodities has allowed the manufacturing industry to sustain a modest recovery.

- Although the global spread has accelerated, it has not led to a sharp drop in trade volume as seen in 1H, and average exports per workday is continuing its uptrend.

- Stock prices and the value of the won appreciated while the cyclical components of leading composite index climbed, revealing that manufacturing-related economic indicators have improved.

○ However, economic activity appears to be dwindling once again, primarily in services, due to accelerating spread of Covid-19 and tougher quarantine measures since mid-November.

- Korea’s number of daily new cases exceeded the 200 range since mid-November, and has surged to the 600 range lately. Social distancing measures in the capital region have been reinforced to Level 2 from November 24.

- Credit card sales fell further from mid-November, suggesting that downward pressure is fast growing led by consumption.
 
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Office of Global Economy
Providing Economic Forecast and Macroeconomic Policy Direction, the Groundwork for a Brighter Future

The Department of Macroeconomics is conducting researches on the macro economy and macroeconomic policy, particularly focusing on suggesting the analysis of macroeconomic trends and current status of the economy at home and abroad, the economic forecast, and the policy direction of the macro economy. The Department is also in charge of establishing, sustaining and maintaining various econometric models, based on which it analyses policy effects and develops a long-term economic forecast.

Main Tasks
  • Economic trend analysis, short- and long-term forecast
  • Policy study on macroeconomic management
  • Basic structural analysis on macroeconomic areas
  • Maintenance of multi-sectoral dynamic macroeconomic model
Department of Macroeconomic Policy
  • LEE. Tae Suk

    Director, Division of Analysis and Evaluation

    82-044-550-4725
  • CHO, Byungkoo On leave

    Director and Vice President, Department of North Korean Economy

    82-044-550-4725
  • LEE, Jongkyu

    Fellow

    82-044-550-4725
  • WEE, Hyeseung Dispatched

    Research Associate

    82-044-550-4725
  • NAM, Jinwook On leave

    Specialist

    82-044-550-4725
  • KIM, Seulki

    Research Associate

    82-044-550-4725
  • CHUN, Eunkyung

    Research Associate

    82-044-550-4725
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