Abstract
South Korea’s economy continued to be impacted by its waning exports in 2016. With moderate expansion in domestic consumption and services, economic growth rate rose to 2.7% in 2016, 0.1% more than in 2015. The impact of President Park Geun-hye’s political scandal on the domestic economy has been constrained so far. It remains to be seen whether strong opposition from society to some chaebols’ involvement in Park-Choi corruption cases will lead to weaker government-chaebols ties in developing the economy in the future.
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