Given this, Korea's trade account is expected to improve rapidly should external conditions recover. While it is possible that the fragmentation of international trade and high interest rates could further weigh on the Korean economy going forward, from a different perspective, they could also serve as an opportunity for us to address the structural issues that have been left untackled.
In the course of responding to the restructuring of global supply chains, we need to reduce our heavy dependence on the Chinese economy through, namely, market diversification. The high interest rate environment could also be a starting point for us to alleviate the high level of household indebtedness while improving the debt structure.