The International Monetary Fund (IMF) has reportedly lowered its 2025 growth forecast for South Korea to 2% — down 0.2 percentage points from its earlier projection of 2.2%. This adjustment follows the IMF mission team’s two-week annual consultation with South Korea’s finance ministry, the Bank of Korea and other relevant institutions.

The IMF also reportedly downgraded South Korea’s 2024 growth outlook from 2.5% to 2.2%, citing weak domestic demand despite strong semiconductor exports. The IMF warned of significant downside risks for 2025, highlighting external uncertainties, including global trade disruptions and potential policy shifts with Donald Trump’s return to the U.S. presidency.