Hyundai Economic Research Institute said the Korean economy would grow slightly in the early 3's in 2013. The private think tank said in a report "2013 Revised Outlook for the Korean Economy," "The GDP growth rate for 2013 will be 3.1 percent." This is 0.4 percentage point lower than the 3.5-percent prediction made in October."
The report also said the current account surplus will decline to US$28.5 billion next year from this year's $39 billion. Exports will recover a bit by making a 5.6-percent growth to $584.5 billion while imports growing 6.4 percent to $556.8 billion.
According to the report, consumer prices will rise 2.5 percent next year from this year's 2.2 percent. As for the unemployment rate, it will remain at the same level as this year's. The won-dollar exchange rate will hover around the 1,060 won level, the report predicted.
*Article provided by The Korea Economic Daily
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