Projected South Korean GDP growth rate will dip below 2% in the coming year, according to the Organisation for Economic Co-operation and Development.

Korea's estimated GDP growth rate will fall below 2% in the upcoming year, as per projections by the Organisation for Economic Cooperation and Development (OECD), marking the first time such a dip has been recorded since the OECD began documenting such figures in 1986.

, and Administrator

2025 May 15 . 9:43 PM

2 min read

Economic growth for Korea is predicted to fall below 2% next year, marking the first time this has... — Economic growth for Korea is predicted to fall below 2% next year, marking the first time this has occurred since the Organisation for Economic Cooperation and Development (OECD) began tracking such statistics in 1986.

Projected South Korean GDP growth rate will dip below 2% in the coming year, according to the Organisation for Economic Co-operation and Development.

Container Dock Stock in Busan: Financial Literacy Among Korean Adults Outpaces OECD Average

Ever gazed upon the bustling scene at Sinseondae Dock in Busan and pondered the economic well-being of its surrounding population? Well, you shouldn't underestimate the financial savvy of Korean adults! According to recent findings, they outshine their counterparts in the OECD when it comes to financial literacy!

Let's dig a bit deeper, shall we? In 2024, Korean adults managed an impressive 65.7 points out of 100 on a financial literacy test. That's above the OECD average of 62.7 points! But it's a bit of a step down from their 2022 score, which stood at 66.5 points [2][3].

Now, let's break down the numbers:

Financial Knowledge: South Korean adults scored a commendable 73.6 points in 2024. However, this is lower than their 2022 score of 75.5 [1][3].
Financial Behavior: They earned 64.7 points, marking a modest 1.1 point drop from the previous year [3].
Financial Attitude: Despite a slight dip in some areas, their attitude towards money remained strong, scoring 53.7 points, up from 52.4 in 2023 [3].
Inflation Understanding: Interestingly, understanding of inflation took a nosedive, plummeting from 78.3 points in 2022 to 56.6 in 2024 [4].

Nevertheless, despite these dips in specific areas, Korean adults continue to tow the line when it comes to overall financial literacy, leaving the OECD in their wake [2][3]. So, it's safe to say that the next time you see those containers at Sinseondae Dock in Busan, remember: behind those containers, there's a nation of financial whizzes!

[1] Korean Adults’ Financial Literacy by Domestic and International Comparison: The Role of Demographic Factors (2022)[2] OECD Survey: Korea’s Financial Literacy Ranked Above Average (2024)[3] Trends in Financial Literacy of the Working-Age Population: Assessment 2024 (2024)[4] Understanding Inflation: A Case Study of South Korean Adults (2024)

Even though Korean adults showed a slight decrease in their financial literacy scores in specific areas in 2024 compared to 2022, their overall financial literacy still outperforms the OECD average. Therefore, the business and economy of Busan, with its bustling container dock, are supported by a financially savvy population.