(MENAFN) According to a report by the Korea Development Institute (KDI), in 2013, the country's economy is forecasted to expand by 3 percent, reported Xinhua News.
The report attributed the expected growth to modest progress in exports and domestic consumption, which is projected to rise by 2.7 percent on annual basis as a result of stable terms of trade and the improved purchasing power originated from the climb of the local currency against the greenback.
The consumer price inflation for the year is expected to remain at a moderately low level of 2.3 percent.
South Korea's current account surplus is forecasted to reach USD30.4 billion, compared with the projected USD37.7 billion for this year.
It is worth noting that the decline in the surplus would result from the ongoing appreciation of the won against the dollar.
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