Park Seung Economic Quotations

Domestic consumption is very robust and manufacturing and service outputs are posting faster-than-expected growth. There are latent inflationary pressures due to the economic recovery and persistently high oil prices.

The balance can change into 55-45 between economic growth and inflation, from 50-50,

We have approached a point where we need to consider a gradual change in monetary policy. We share this view with the Finance Ministry. Monetary policy is based on economic growth, consumer prices and allocation of resources. The perception that the central bank would not raise interest rates had been prevalent, so I needed to send a signal not to shock the markets.

The polarization between households and the corporate sector is a phenomenon seen in the course of the economic restructuring process.

South Korea has entered a normal recovery track, where economic growth, consumer prices and exports are in better shape.