The Green Book: Current Economic Trends
Overview The Korean economy swiftly recovered from the second half of 2005. In the first half of 2006, the economic growth was gradually stabilizing in tandem with potential. Despite deteriorating external conditions, the economy realized a solid growth of 5.7 percent year on year with prices being stable, including a consumer prices increase of 2.4 percent. However, due to high oil prices, the current account balance was reduced to a deficit of US$270 million with the balance nearing zero. Employment maintained trend growth with an increase of 307,000. However, it fell slightly short ...