IMF raises Korea's 2025 growth outlook to 0.9 pct on smaller-than-expected US tariff impact

The International Monetary Fund (IMF) on Tuesday slightly raised its growth forecast for Korea's economy to 0.9 percent for this year, saying that effects from U.S. tariff measures have been smaller than expected so far. In its latest World Economic Outlook report, the IMF edged up its projection for Asia's fourth-largest economy by 0.1 percentage point from its previous forecast released in July. The IMF maintained its 2026 growth outlook for Korea at 1.8 percent. "The United States negotiated trade deals with various countries and provided multiple exemptions. Most countries refrained from retaliation, keeping instead the trading system largely open," the IMF said. "As a result, the increase in tariffs and its effect has been smaller than expected so far." Major economies have completed tariff agreements with the administration of U.S. President Donald Trump, aimed at scaling back Washington's "reciprocal" tariffs and sector-specific duties. Seoul officials have been accelerating diplomatic efforts to formally finalize a framework trade deal reached in late July, under which Korea willWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times