South Korean economy set for tangible growth in 2012

High st banks vs currency brokers

Market analysts have suggested that the South Korean economy could be set to grow by approximately 3% in 2012.

Growth forecasts, produced by think tanks, investment banks and security firms, have suggested the country could be set for a much needed economic boost.

There was a slight disparity between the factions involved in producing the results though. The state-run Korea Development Institute predicted growth of 3.8%, while the Korea Institute of Finance estimated the figure would be around 3.7%.

Despite the apparently positive news, both of these forecasts are actually lower than the government’s originally projected growth of 4.5%. Although many within the country now feel this was a little ambitious.

Kwon-Soon Woo, a senior economist at Samsung Economic Research Institute, has warned that all predictions are subject to the impact of external factors.

“It would be inevitable for the Korean economy to be determined again by external factors next year,” he stated. “Even the economies of advanced nations including the U.S cannot be immune from the Euro-zone problems.”

Transfer Money to South Korea

If you are looking to invest inSouth Korea, think carefully about how you will be transferring money toSouth Korea. Foreign currency exchange rates quoted by banks are almost always worse than the exchange rates available through specialist currency dealers.

So if you are transferring money abroad toSouth Korea – which you will inevitably have to do if you are looking to make a property investment - be sure to compare the market before you buy your overseas currency.

Whenever you are transferring funds abroad, it is important to consider the possibility of charges. Most banks will attach certain charges to transfers so keep an eye on these to make sure that you are getting the best deal possible.

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South Korean economy set for tangible growth in 2012

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