February 2022 Vol.44 No.2
Overview Mining manufacturing and services rose in November, as well as facility and construction investment while retail sales declined. Employment continued to improve in December, consumer price inflation going up at a slower pace. Industrial production rose 3.2 percent month-on-month in November as both mining manufacturing (up 5.1%, m-o-m and up 5.9%, y-o-y) and services (up 2.0%, m-o-m and up 5.3%, y-o-y) went up. Industrial production improved 5.3 percent year-on-year. Retail sales (down 1.9%, m-o-m and up 4.6%, y-o-y) fell in November, and facility investment (up 10.9%, m-o-m a...
2022 Work Report The government will continue with its tasks of supporting the real economic sectors hit by the pandemic, and will work on a soft landing for household debt, including financial aid for those struggling to get through the pandemic. Key policies are as follows. 1. Continue to help small businesses overcome pandemic-driven difficulties 2. Keep stable the prices of essential goods and services 3. Promote hiring and provide stronger employment security 4. Strengthen household risk management * For further details, please refer to the attached file
Koreas real gross domestic product (GDP) expanded 4.0 percent last year, according to the advance data released by the Bank of Korea (BOK) on January 25. In the fourth quarter of 2021, the Korean economy grew 1.1 percent quarter-on-quarter and 4.1 percent year-on-year. On the production side, agriculture, forestry fisheries rose 1.3 percent quarter-on-quarter. Manufacturing went up 1.1 percent as computer, electronic optical products and electrical equipment rose. Electricity, gas water supply fell 0.8 percent. Construction grew 2.2 percent due to strong building construction and civil...