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KDI 경제정보센터

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Policy Issue
2020 Economic Policies
Dec 2019
2020 outlook

- Growth: Annual growth of 2.4 percent is expected. Exports and investments are projected to grow amid improving global economies and recovering semiconductor demand, as well as helped by policies to boost investment and domestic consumption.
- Employment: A total of 250,000 jobs are expected to be added to the economy, the employment rate improving from 66.8 percent to 67.1 percent.
- Inflation: The annual consumer price inflation is projected to be 1.0 percent, rising from 0.4 percent of the previous year.
- Current account balance: Current account surpluses are expected to improve to US $59.5 billion as global economies and semiconductor markets are expected to recover. Exports are projected to grow 3.0 percent, and imports to rise 2.5 percent.


Framework for the 2020 policies

The 2020 policies have been drawn up to help regain growth momentum with the following four pillars in mind:

- Promote industrial innovation
- Restructure the economy
- Pursue inclusive growth
- Prepare for the future


* For further details, please refer to the attached file