Economists in South Korea have projected the country’s economy to grow 1.6 percent in 2025, lower than the government’s forecast of 1.8 percent.

Six out of 10 economists also anticipate a prolonged period of economic stagnation in the country.

According to a survey of 100 economics professors from Korean universities conducted by the Korea Enterprises Federation (KEF) on Sunday, most respondents estimated the country’s average economic growth rate at 1.6 percent, falling short of the government’s forecast of 1.8 percent. This suggests a highly pessimistic outlook on the competitiveness of the country’s key industries driving economic growth.

When asked about Korea’s growth prospects, 64 percent of respondents predicted “stagnant growth for a significant period of time,” while 35 percent expected a “gradual recovery after a period of decline.”

This highlights a cautious stance, indicating that not only is rapid growth unlikely, but even slow growth may be difficult to achieve.

Regarding Korea’s overall industrial competitiveness, 56 percent of respondents expressed a pessimistic view, making it the most common response.

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