Korean economy to grow 5.2%: ADB

Korean economy to grow 5.2%: ADB
Asian Development Bank said yesterday that Korea’s economy will grow 5.2 percent in 2010, as corporate investment and private consumption pick up and exports remain strong.



The Manila-based institution’s projection is more optimistic than that the Korean government’s forecast for 5 percent growth. The Bank of Korea, however, raised its growth outlook to 5.2 percent earlier this month.


Consumer prices will grow around 3 percent year-on-year in 2010 and then will rise to 4.6 percent in 2011, the ADB forecast.


Korea’s economy, the fourth largest in Asia, managed to grow 0.2 percent in 2009, thanks to aggressive stimulus measures and record-low interest rates, while many advanced economies slipped into a recession