Analysis: South Korea struggles with Trump tariffs, expects economic slowdown

Korea's FX reserves robust despite NPS-BOK swap: former BOK Reserve Management Group head

By Yang Seok-jun Korea's foreign exchange reserves currently stand at just over $400 billion (567.5 trillion won), having crossed this threshold for the first time in June 2018. The total peaked at around $470 billion in 2021 but is now on the decline. There is growing concern that it will fall below $400 billion in the near future. However, it is important to recognize that while this year's number remains similar to 2018, the conditions surrou…

Analysis: South Korea struggles with Trump tariffs, expects economic slowdown

South Korea is bracing for the impact of the Trump administration's tariffs, as reflected in its economic downturn and lowered growth forecast.

South Korea’s economy shrinks as tariffs darken global outlook

South Korea was slapped with a 25 per cent Trump tariff, temporarily reduced to 10 per cent for 90 days. Read more at straitstimes.com.

South Korea’s economic engine stalls as Trump tariffs, political turmoil bite

South Korea’s real gross domestic product (GDP) shrank 0.2% in the first quarter of 2025 from the previous quarter, marking the economy’s first contraction in nine months, the Bank of Korea (BOK) said Thursday. The year-on-year figure also turned negative, down 0.1%, as both private and government consumption slipped and investment activity retreated sharply. Construction […] The post South Korea’s economic engine stalls as Trump tariffs, politi…

South Korea’s Q1 Slump Signals Trade War Fallout

In a sobering blow to Asia’s economic powerhouse, South Korea’s economy contracted by 0.2% in the first quarter of 2025, as escalating global trade tensions battered its export-driven growth, the Bank of Korea announced on April 24, 2025. The unexpected shrinkage, reported by Bloomberg, marked a stark reversal from Q4 2024’s 0.6% expansion, with fears mounting that a prolonged U.S.-China trade war could deepen the downturn. South Korea, a bellwe…