Next week, the International Monetary Fund (IMF) will release its World Economic Outlook report, along with domestic indicators related to employment and household loans.
According to Yonhap News on October 10, the IMF is set to publish the World Economic Outlook report on October 13. The report will include forecasts for key economic indicators, including the economic growth rates of various countries.
In its report released in July, the IMF projected South Korea's real GDP growth rate for this year at 2.6%, an increase of 0.7 percentage points from the previous forecast. The upward revision is attributed to exports and investments related to artificial intelligence (AI) semiconductors. Attention is focused on whether the growth forecast for South Korea will be adjusted further in the upcoming report.
The National Data Agency will announce the September employment trends on October 16, a key indicator for assessing the effectiveness of President Yoon Suk Yeol's job policy, which is one of his three core social policies.
In August, the number of employed individuals increased by 184,000 compared to the previous year, with the month-on-month increase expanding by approximately 76,000. The critical question is whether there will be an increase in employment in sectors such as manufacturing, construction, and accommodation and food services, which have recently faced poor employment conditions.
The Bank of Korea will release the financial market trends for September on October 15. There is particular interest in the trends of household loans and changes in specific categories such as mortgage and credit loans.
Previously, the outstanding balance of household loans at the five major banks—KB Kookmin, Shinhan, Hana, Woori, and NH Nonghyup—was reported to have decreased by approximately 1.3 trillion won at the end of September compared to the end of August. As household loans declined at these banks, attention is also on whether the overall statistics for deposit banks will confirm a slowdown in loan growth.
According to the Bank of Korea, the monthly increase in household loans at deposit banks was 7.6 trillion won in June, 5.5 trillion won in July, and 3.4 trillion won in August, indicating a contraction for two consecutive months.
Additionally, national audits of major economic institutions will continue. The Bank of Korea is scheduled to undergo a national audit at its headquarters on October 12. Questions from both ruling and opposition parties are expected regarding its recent decision not to disclose international rankings of foreign exchange reserves.
On October 13, the National Tax Service and the Seoul, Central, and Incheon Regional Tax Offices will also undergo national audits at the Government Sejong 2nd Office. On October 15, the National Data Agency, the Korea Customs Service, and the Public Procurement Service will be audited at the Government Daejeon Office.
* This article has been translated by AI.
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