Economic experts are concerned about South Korea`s economy. The Hong Day research institute recently suggested in a report that economy reached its peak in May 27.The finding comes at a difficult time for South Korean President Moon Jae in whose public approval rating have been falling and opinions study by Gallop Korean shows M`s approval rating at 45% below its president set. Also a majority of businesses do not have good opinion of him. The Hongday research institute predicts that the south Korean economy will grow at rate 2.5% next year. That is lower than the Bank of Korean`s prediction of 2.8%-2.9% over the next two years.
Kim Song Yong is a economics professor at Soul National University.He told VOA that the economy is slowing down but at present it is not at its worst. Jong Min is a research fellow with a Hongday research institute. He predicts the economy will reach its lowest point during the second half of 2019. The economy is faced with down world risks, such as deepening trade dispute, he said.
Economists are also concerned about other issues, such as rising household dead Kong Sou Yong said. KYS is a professor in the school of economics at Yong Sui University. He said the Korean economy has lost competitiveness in the international market place. Song said that higher cost for vigers for workers, including an increasing in a minimum wage, have hurt business. On Monday, the South Korean President called for measures to increase economical growth. At a meeting with government ministers, M called for policies that add innovation and regulation and support for investment. He also called for lifting regional economics and balanced development.
Min noted that it is difficult to change economy in the five year term. In South Korean the President is limited to a single term of five years. He added it that changing the economic policy direction takes time and requires patients. The Hang day research institute Changman said that rules do need to be changed to support investment in the economy. He called
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