Korea’s Economy to be upgraded to Advanced Economies by 2018

D-Bo , May 30, 2014, 9:19 a.m.

A representative from Moody’s, the global credit rating agency, has announced that they expect Korea to join other countries with advanced economies by 2018.  Moody's senior vice president Thomas Byrne said Korea will catch up with countries like France in terms of GDP per person in just three to four years' time. He attributed the development to Korea's government policies and competitiveness.

Adding that Korea has maintained faster growth than other G20 nations, Byrne said he expects its GDP to grow 3.8 percent this year. That is slightly higher than recent predictions by local private and state-run think tanks.

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