Korea

Inflation was chronic in the Republic of Korea even before the outbreak of the war. Since then, it has been aggravated by an acute shortage of goods combined with sharp increases in war expenditure. But supplies available increased after the end of 1952, while monetary expansion slowed down, and the worst phase of inflation seems to be over, although there still remain strong inflationary factors in the economy. Agricultural production in 1953 has shown a big improvement over the proceeding year, and with imports increasing, the food situation has greatly improved. Industrial and mining production is also rising. Rehabilitation is getting under way and signs of improvements are already noticeable.

Sustainable Development Goals:

Decent Work and Economic Growth

Reduced Inequalities