The Korean economy expanded by 3-point-9 percent in the first quarter from a year earlier...
beating the market forecast of 3-point-7.
The Bank of Korea expects growth of 4 percent this year, up from 3-percent last year.
The BOK's optimism was underlined by the 1-point-5 percent on-year rise in the consumer price
index for April, the biggest since a matching increase seen in August last year.
However, the nation's consumer sentiment has been hit hard by the ferry tragedy in this
country,... raising concerns that the growth target may not be met this year.
For analysis, we are joined live in the studio by Dr. Kim In-chul, professor of International
Economics at Sung Kyun Kwan University.
Professor Kim, thanks for joining us.
The Korean economy grew 3-point-9 percent in the first quarter from a year earlier - if
it were to achieve the 4 percent growth target this year, would it be safe to say that the
nation is back on the normal growth track?
There have been a series of reports indicating significant economic
growth, but the average Korean - the average consumer doesn't
seem to feel the effects.
How do we explain that?
Consumer spending, of course, is key to economic growth.
In your view, are Koreans really increasingly
opening up their wallets?
How do
you think the Sewol-ho ferry tragedy will impact the Korean
economy - both in the short- and long-term?
What are some measures that could or should be taken by the government to boost consumer
spending thus boost economic growth?
Dr. Kim In-chul, professor of International Economics at Sung Kyun Kwan University - thank
you for speaking with us this evening.