Imports have increased but thanks to strong exports, Korea’s current account is seen to continue in surplus this year, reaching about $ billion . The annual average rise in the CPI is expected to be around the 1% level despite destabilizing factors such as the rapid growth of the economy and the international oil price hike.
As is clearly illustrated by the GDP growth numbers, the Korean economy has rediscovered its vitality. This is due to hard efforts by all participants in the Korean economy. The foreign currency crisis erupted in part because of some fault lines in the international financial architecture, but in retrospect, the structural problems of the Korean economy were the major cause.