South Korea’s 2015 Growth Target Hard to Achieve – Economists

Weak domestic consumption and sluggish export conditions will continue to drag South Korea’s growth in 2015 and economists said the country’s will have a hard time getting into the upper 3% growth range.

A recent survey showed that 3.6% to 3.7% growth is more realistic for 2015 as the 3.9% growth targeted by the South Korean government will be hard to achieve due to concerns in the country’s export sector.

The economists also said external uncertainties will also exert a negative pull on the country’s economy as a whole.

Those surveyed are presidents of the Korea Development Institute, Korea Institute for International Economic Policy, Korean Economic Association, Korea Economic Research Institute, Korea Institute of Finance, Hyundai Research Institute and LG Economic Research Institute.