[KOREAN ECONOMIC NEWS] Good morning, everyone. I’m Byeongyeon Yoo staff of Kamaindia Pvt. Ltd.
Here I have an important Korean economic news to share with you which is as undermentioned.tioned.
The size of South Korea’s underground economy accounted for 19.8 percent of the country’s gross domestic product (GDP) in 2015, dropping by almost 10 percentage points frm 24 years ago, showed a recent study by the International Monetary Fund.
According to an IMF working paper on “Shadow Economies Around the World: What Did We Learn Over the Last 20 Years” published last month, Korea’s underground economy is estimated to have accounted for 19.83 percent of its GDP in 2015, down frm 29.13 percent in 1991.
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