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IMF economist sees danger of Japan-like slump in South Korea

A lengthy economic slump may be in South Korea’s near future, one that mimics the extended stagnation in Japan and for similar demographic reasons, an economist with the International Monetary Fund said. However, Rhee Chang-yong, director of the IMF’s Asia and Pacific department, said that Korea still has substantial growth potential and should aim for an annual rate of 3%.

Yonhap News Agency (South Korea) (subscription required) (8/9)