Republic of Korea
The FSSA was prepared by a staff team of the IMF for the Executive Board’s consideration on Friday, March 27. The staff report reflects discussions with the Korean authorities in September and December 2019 and is based on the information available as of end June 2019. It focuses on Korea’s near and medium-term financial stability challenges and policy priorities and was prepared before COVID-19 became a global pandemic and resulted in unprecedented strains in global trade, commodity and financial markets. It, therefore, does not reflect the implications of these developments and related policy priorities. Staff is closely monitoring the situation and will continue to work on assessing its impact and the related policy response in Korea and globally.