Prime minister says Korea, US likely to log biggest growths among advanced economies in 2025

Korea and the United States are expected to produce the highest economic growth rates among major economies next year, Prime Minister Han Duck-soo said Tuesday.

Han made the remarks during a press briefing, highlighting the global rating agencies' positive assessment of the Korean economy, including Goldman Sachs' recent outlook of a 1.8 percent growth for both countries.

He said Korea and the U.S. are expected to grow the most among the advanced countries, followed by Britain at 1.4 percent and Japan at 1.3 percent, citing the Goldman Sachs report.

"Domestically, we are very concerned that the potential growth rate is below two percent and that this situation is unlikely to improve in 2026," he said, stressing that such challenges are not unique to Korea.

In particular, Han emphasized the need to prop up the construction and tourism sectors to revitalize domestic spending and consumption.

When asked about the possibility of drawing up an additional budget to boost domestic demand, Han said, "We are not at the stage to talk about a supplementary budget." (Yonhap)