ADB cuts South Korea's 2025 growth forecast to 2%, citing export and domestic demand concerns.

The Asian Development Bank (ADB) has lowered South Korea's 2025 economic growth forecast to 2%, down from the previous 2.3% estimate. This projection, which matches IMF and OECD forecasts, reflects concerns over a slowdown in South Korea’s export sector, notably in semiconductors. Despite interest rate cuts and better government policies, the ADB expects Asia-Pacific growth to be 4.8% in 2025, slightly lower than before due to weak domestic demand in Asian economies.

December 11, 2024
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