South Korea’s Finance Minister announced a reduction in its 2023 growth forecast, given weak exports and slow economic recovery.
Finance Minister Zhou Kyung-ho said the government plans to come up with a revised growth forecast at the end of June or early July.
The Organization for Economic Cooperation and Development (OECD) lowered its forecast for South Korea’s economic growth in 2023 to 1.5% from 1.6% in March, citing declining exports and slowing private investment.
Last month, the Bank of Korea also cut its growth forecast for South Korea to 1.4% from a 1.6% expansion three months ago.
The country has suffered a trade deficit since April last year due to rising energy prices, marking the first time since 1997 that the country has recorded a 15-month trade deficit in a row.
GOOGL 
AMZN 
MET 
T 
WPM 
DM 
SVM 
CMC 
HKDUSD=X 
BABA 