이제 더 많은 배를 띄울 차례다 [안선희 칼럼]

The Korean Central Bank recently raised interest rates for the fourth consecutive time, increasing the forecast for this year's economic growth rate from 2.6% to 3.3%, and next year's rate from 2.1% to 2.9%. Although 3.3% may not be considered high, it is far from low. This growth rate was the highest since 2017, when it reached 3.4% following the 2020 (-0.7%) recession caused by the COVID-19 pandemic.

Excluding 2021, name-based growth rates have not reached such levels since 1996. In terms of nominal growth rates, the economy is projected to reach 12-13% this year, the highest in 30 years since 1996. At this time, it might be difficult to recall the gloomy atmosphere that prevailed just a year ago when South Korean economist Shin Min-seok described the country's economic situation as "more difficult than during the IMF crisis."

However, the economic and stock market's increasing dependence on the semiconductor boom, despite concerns about its long-term sustainability, is a positive development. Although the semiconductor industry is known for its limited employment effects, the substantial severance pay received by employees at companies like Samsung Electronics and SK Hynix is expected to boost consumer spending next year, leading to a 0.12% increase in the GDP.

Furthermore, the megaprojects announced by Samsung Electronics and SK Hynix are expected to create significant employment opportunities. As President Yoon Jeung-jin noted in a recent article, "more boats will rise if the current growth trend continues," but only if the boats are not damaged, sunken, or otherwise hindered. Thus, it is the government's responsibility to clear the wreckage and repair the hulls of these boats, ensuring that more individuals can take advantage of the new economic opportunities.