Republic of Korea : 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Korea

After decades of impressive economic progress, Korea's growth has slowed, and the economy is facing a number of structural headwinds, including: unfavorable demographics; heavy export reliance; pockets of corporate vulnerabilities; labor-market distortions; lagging productivity; a limited social safety net; and high household debt. Inequality and poverty are also of concern. On the positive side, Korea has considerable fiscal space to manage these challenges.