May 21, 2018

IMF chief: Korean economy likely to grow 3% this year

PUBLISHED : September 11, 2017 - 16:38

UPDATED : September 11, 2017 - 16:40

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[THE INVESTOR] International Monetary Fund chief Christine Lagarde expressed optimism on Sept. 11 that the Korean economy will grow 3 percent this year.

The assessment is in line with Korea’s growth outlook for 2017.

She said the Korean economy could also expand 3 percent growth in 2018.


IMF chief Christine Lagarde attends a press conference in Seoul on Sept. 11.

“I believe the Korean economy is extremely resilient and has demonstrated resilience in the face of adversity,” Lagarde said in a news conference in Seoul.

Lagarde, who visited the Demilitarized Zone, said she sees every downside in the escalation of the tensions, and every upside in trying to resolve those tensions and trying to reestablish certainty rather than uncertainty.

“I am confident that the economy will stand and hopeful that the situation will be resolved in a positive way,” Lagarde said.

She also said the Korean economy has the space to target the medium-term challenges of the financial safety net of the elderly people, and of the women’s contribution to the economy, saying that Seoul can significantly improve on facilitating the access of women and young people to the job market.

By Alex Lee and newswires (

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