SC Jeil Bank Holds 2024 Global Research Briefing

Economic Experts and Global Macroeconomic Outlook

SC Jeil Bank announced on the 22nd that it held an event inviting corporate and financial institution clients to forecast and discuss the global macroeconomy.

The company held the '2024 Global Research Briefing' on the 18th at the Four Seasons Hotel in Jongno-gu, Seoul. About 170 key personnel responsible for finance, planning, and sales from over 130 domestic companies, financial institutions, and local subsidiaries of global overseas companies attended the event.

Participating clients listened to forecasts and opinions from SC Group experts on this year's global economic issues such as interest rates, inflation, geopolitical risks, and major countries' elections, and sought ideas to navigate crisis situations stably amid various risk factors and variables through Q&A sessions.

On the 19th, at the Four Seasons Hotel in Jongno-gu, Seoul, Park Jong-hoon, Chief Economist at SC First Bank (Executive Director, from the left), Eric Robertson, Head of Global Research at SC Group, Ding Shuang, Chief Economist in charge of Greater China and Northeast Asia at SC Group, and Arup Ghosh, Co-Head of Asia and Korea Interest Rate Research at SC Group, are participating in a panel discussion at the '2024 Global Research Briefing.'
[Photo by SC First Bank]

Eric Robertson, Head of Global Research at SC Group, explained the global macro investment strategy, stating, "This year, central banks around the world are expected to implement the most aggressive monetary easing policies in decades," and added, "While advanced economies' average annual growth rate is expected to slow to around 1%, Asia's growth rate is projected to reach about 4.9%, making a soft landing for the global economy possible."

Ding Shuang, Chief Economist for Greater China and Northeast Asia at SC Group, commented on the Chinese economy, saying, "In the short term, the growth rate is expected to decline from 5.2% in 2023 to 4.8% in 2024 due to the weakening of the previously favorable base effects," and added, "China's macroeconomic policy is likely to maintain a monetary easing stance, but it is unlikely to implement large-scale stimulus measures," further diagnosing, "Regarding the real estate sector, stronger policy support and a declining share of GDP suggest its influence as a recession factor will likely diminish."

Arup Ghosh, Co-Head of Asia and Korea Interest Rate Research at SC Group, took a detailed look at major Asian markets and Korea's interest rate trends. He stated, "With the easing inflation trend, we hold a positive view on Korean government bonds," and argued, "We expect a won appreciation trend due to factors such as semiconductor market recovery, current account surplus increase, and the decline in U.S. Treasury yields. The ongoing foreign purchases of government bonds since last year are strengthening the possibility of inclusion in the World Government Bond Index (WGBI)."

Park Jong-hoon, Senior Economist (Executive Director) at SC Jeil Bank, forecasted Korea's economy this year, saying, "Although domestic demand faces difficulties, the economic environment will improve compared to last year due to export improvements," and added, "We will continue to provide clients with timely updates on the changing global economic environment and outlook through various channels."

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