Moody's Projects Korea to Grow 2% This Year

  • Arirang News

    March 05, 2019 08:30

    Ratings firm Moody's projects the Korean economy to grow around two percent this year and in 2020, far lower than last year's 2.7 percent growth.

    Trade tensions between China and the U.S. as well as a slowdown in the semiconductor industry were cited as the main factors for the forecast in a report released Monday.

    It also warned that Korea's minimum wage hike could worsen unemployment as it may deter businesses from hiring more people.

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