Bank of Korea warns South Korean economy mirrors Japan's, urges bold structural reforms

Bank of Korea warns South Korean economy mirrors Japan's, urges bold structural reforms

The South Korean economy is showing increasing similarities to Japan's past stagnation, and bold structural reforms, along with innovation, are needed to prevent prolonged low growth, the central bank said Thursday. In its latest research report, the Bank of Korea (BOK) said South Korea "is following in Japan's footsteps in many areas," pointing to mounting private-sector debt as one of the major concerns. In 2023, Korea's private-sector debt re…

BOK warns S. Korean economy mirrors Japan’s, urges structural reforms

Seoul, June 5 (IANS) The South Korean economy is showing increasing similarities to Japan’s past stagnation, and bold structural reforms, along with innovation, are needed to prevent prolonged low growth, the central bank said on Thursday. In its latest research report, the Bank of Korea (BOK) said South Korea “is following in Japan’s footsteps in […]