In the Shadow: Korea’s Economic Outlook
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In the Shadow: Korea’s Economic Outlook

Peter Underwood from IRC Consulting has written a fantastic piece outlining Korea’s economic future amidst the historical summit between Donald Trump and Kim, Jong-un.

Peter states that in spite of positive signs for 2018 (expected growth of 3%), Korea’s economy continues to face three fundamental hurdles:

1. Dominance by the chaebol, the family-controlled business networks stifles SMEs and startups
2. Excessive regulation hamstring’s business
3. Labor inflexibility (complicated by a rapidly aging population) undermines restructuring and productivity improvements

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