Korea's economic recovery yet to benefit households broadly: KDI
The benefits of Korea's economic recovery have yet to reach households more broadly, a state-run think tank said Monday, noting the recovery in their purchasing power remains limited. "The recovery in household purchasing power remains constrained due to subdued underlying wage growth and elevated supply-side inflationary pressures, including those from persistently high oil prices," the Korea…
The Korea Development Institute (KDI) has reported that the benefits of Korea's economic recovery have yet to extend to households broadly. Despite the overall economic growth, the think tank noted that household purchasing power remains constrained due to limited wage growth and high inflationary pressures, primarily driven by persistently high oil prices.
While the Korean economy has been recovering, fueled by the artificial intelligence (AI) industry, this recovery has not yet reached households broadly. The KDI emphasized that the nation's economic recovery is still maintaining its momentum, with manufacturing output growing steadily. Exports and equipment investments are also on the rise, significantly boosted by AI-related sectors, as global demand for AI infrastructure remains robust.
In September, Korea's exports surged 83.5 percent year-on-year to reach a record $120.9 billion, driven by a sharp increase in chip shipments.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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