News

SEOUL, Sept. 15 ( Yonhap ) - The private economic research institutes in South Korea are considering revising upwards its growth forecast for the national economy are improving as economic and financial indicators .

The benchmark stock market index of South Korea KOSPI, regained 2,000 points level on 11 September, for the first time in three months , and the exchange rate of won - dollar dropped to 1084.1 won per dollar , 10 September , the lowest level in the last three months.

The premium credit default swaps (CDS, according to its acronym in English) for the five-year Treasury of the country, which is traded on the New York market , fell to 72 basis points on 12 September, with respect to 117 basis points on June 24 . A basis point is 0.01 percentage point . A sharp increase in CDS indicates deterioration in the credit of government bonds and higher costs in issuing these.

The differential stabilization bonds in foreign currency of South Korea, which will mature in 2019, down from 160-105 basis points.

The real economic indicators are also showing a moderate recovery.

Exports rose 7.7 percent year on year to 46.370 million in August, raising the expectation that the current account surplus country to increase in the future. South Korea had a current account surplus in July for the 18th consecutive month.

With the improvement of the main economic and financial indicators, some private schools are considering raising its forecast for economic growth.

The Economic Research Institute Hyundai considers revising upwards its 2013 growth forecast for the national economy, which was 2.6 percent in the June report.

In August, the Institute of Finance of South Korea raised its economic growth forecast for this year from 2.6 to 2.8 percent.