South Korean President Lee Jae Myung stated Thursday that a rebound in the country's potential growth rates indicates a strengthening economic foundation. Citing an IMF report, he noted that potential growth is projected at 2.14% this year and 2.2% in 2027, marking the first consecutive annual increases in approximately 40 years.
The rebound in potential growth rates, as highlighted by President Lee, suggests a strengthening economic foundation for South Korea. This trend, if sustained, could lead to more balanced economic expansion, benefiting both large corporations and small businesses, and potentially improving the economic conditions for citizens.
SEOUL, Oct. 22 (Yonhap) -- President Lee Jae Myung stated Thursday that the recent rebound in South Korea's potential growth rates signals a recovery in the national economy's fundamentals. He believes this trend should help promote balanced growth between large corporations and small and medium-sized firms.
Citing a recent International Monetary Fund (IMF) report, Lee noted that the country's potential growth rate is projected at 2.14 percent this year and 2.2 percent in 2027. These figures represent the first consecutive annual increases in approximately 40 years.
Lee emphasized that this rebound should be a steppingstone for sustainable, balanced growth by strengthening advanced industries and focusing resources on slower-recovering sectors. He also instructed officials to inspect safety management at key facilities that draw crowds ahead of autumn festivals.
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