ADB President: "Korea's Growth Momentum Maintained... Low Risk of Capital Outflow"

Masatsugu Asakawa, President of the Asian Development Bank (ADB), is answering reporters' questions at a press conference during the ADB Annual Meeting held on the 2nd at Songdo Convensia in Incheon.

Masatsugu Asakawa, President of the Asian Development Bank (ADB), said about the South Korean economic outlook, "It will maintain a solid growth trend over the next few years," adding, "There may be sudden capital outflows, but the likelihood is low."

At a press conference during the ADB Annual Meeting held on the morning of the 2nd at Songdo Convensia in Incheon, President Asakawa said, "Speaking about South Korea's economic outlook, I am very optimistic."

He explained, "This year, South Korea's growth rate is projected at 1.5%," and "It is expected to gradually grow to 2.2%, mainly driven by consumption."

President Asakawa said, "Domestic demand will be stimulated, and exports and investment will also contribute somewhat to growth," adding, "At the same time, inflation will gradually decline to 3.2% this year due to successive tightening measures."

He continued, "I think inflation will be somewhat controlled, and the South Korean economy will maintain a solid growth trend."

He said, "Because of the US-led monetary tightening, there could be a sudden risk of capital outflows in South Korea," but added, "Recently, the US has shifted its monetary policy toward easing, so such pressures have greatly eased recently, and since South Korea's foreign exchange reserves are sufficient, I believe the possibility of experiencing foreign exchange shortages or liquidity problems is very low."

This content was produced with the assistance of AI translation services.