South Korean President Yoon Suk Yeol predicts that economic growth in 2024 will surpass the potential growth rate after accelerating in the second half of 2023. He also pledges closer ties with the United States to enhance crisis management capabilities.
SEOUL - South Korea n President Yoon Suk Yeol said on Tuesday economic growth in 2024 would exceed the potential growth rate after accelerating in the second half of 2023, and pledged closer ties with the United States to bolster crisis management capabilities.
"The pace of economic growth will continue to expand in the second half of the year as forecast earlier ... and by next year it will recover beyond the level of the potential growth rate and record a higher rate than major countries," he said. In a Reuters survey conducted early this month, South Korea's economic growth was forecast to slow to 1.2% in 2023 from 2.6% in 2022.
South Korea President Yoon Suk Yeol Economic Growth Potential Growth Rate United States Crisis Management
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