Exchange rate analysis lies at the center of the IMF's surveillance mandate and policy advice, as well as in the design of IMF-supported programs, and IMF staff are called upon to analyze a variety of exchange rate issues in various member countries, both small and large, from the least...

Korea entered the COVID-19 pandemic with sound macroeconomic fundamentals and a resilient financial system. The initial outbreak led to a sharp decline in economic activity and employment and generated substantial economic slack. With the help of an effective COVID-19 containment strategy and...

This 2016 Article IV Consultation highlights that Korea's growth has slowed after decades of impressive economic progress. The economy is facing a number of structural headwinds, including unfavorable demographic developments, heavy export reliance, pockets of corporate vulnerability, labor...

This 2019 Article IV Consultation discusses Korea's economy that has strong fundamentals; however, it is facing cyclical and structural headwinds. Potential growth will continue its decline, and polarization and inequality are concerns. Labor and product market duality persist. The government is...

This Selected Issues paper analyzes monetary policy and financial cycles; the evolution of macroprudential policies in Korea; the efficacy in prudential policies in taming financial excess and building financial resilience and; the interaction between monetary policy and macroprudential policies....

This 2017 Article IV Consultation highlights that the Republic of Korea's near-term outlook is improving. After slowing in the second half of 2016, growth has picked up in 2017, while recent geopolitical tensions have had a limited impact. The rebound was led by a strong expansion in investment,...