Korean economy shows signs of rebound, says KDI
Some indicators show positive trends, despite China trade and protectionism concerns
The latest data on investments and exports show the Korean economy is recovering, but the growth has been limited by weak domestic consumption, a government think tank said Monday.
Overall industrial output rose 4% in March compared to a year earlier, according to the Korea Development Institute, largely thanks to boosts in the service sector and insurance. Exports in April jumped 24.2% as demand for semiconductors continued to ride high.
The encouraging data comes amid concerns China’s IT self-sufficiency goals, along with protectionism around the world pose long-term threats, as Business Korea reports this week.