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  • KDI Monthly Economic Trends 2021. 10
  • Date October 07, 2021
  • 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)
■ Korea’s economic recovery is slowing on the contraction in the face-to-face service industry, and downside risks are running high on growing global uncertainty.

○ The contraction in face-to-face services appears to be worsening on the re-spread of Covid-19 and prolonged quarantine measures.

- Production in key in-person services businesses, such as accommodation and food services, decreased, and their employment contracted, too.

- Manufacturing maintained the pace of improvement led by semiconductors, but downside risks loom large as production in a few industries such as automobiles contracted on disruptions in the supply of intermediate goods and corporate sentiment index receded.

○ The global economy is facing a slowing recovery brought by the re-spread of Covid-19 and supply chain disruptions, and financial markets tuned highly volatile; the pace of improvements in external conditions slowed.

- Global industrial production and goods trade continued to stall, and major countries saw a contraction in corporate sentiment due to growing concerns over economic situation in the US and China.

○ However, the negative impacts from social distancing will likely be reduced after September when the government’s consumption stimulus programs begin to roll off and vaccines are widely available.
 
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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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