The National Assembly Budget Office held its inaugural press conference on the "2025 NABO Economic Outlook" report on Monday, March 31, at the National Assembly Press Room.

Led by NABO Chief Dongha Chi, the event featured aneconomic outlook briefing by Assistant Chief for Economic Analysis Ick Jin. The presentation delivered key forecasts for South Korea's 2025 economic indicators across expenditure, production, income, and growth sectors.

In his opening remarks, Chief Chi emphasized NABO's evolving communication strategy: "While our public relations efforts have traditionally centered on press releases and academic forums, we are now expanding direct media engagement through detailed report briefings. Today marks an important step toward strengthening our dialogue with the press.“

Assistant Chief Jin then presented NABO's revised economic projections, citing multiple challenges facing the Korean economy: "We have adjusted our 2025 forecasts downward, with economic growth now projected at 1.5% and potential growth at 1.9%*, reflecting impacts from slowing government spending, political uncertainties, weakened consumer demand, U.S. trade policies, and demographic decline. These conditions necessitate bipartisan cooperation on any supplementary budget to maximize economic impact. Furthermore, the government must develop a comprehensive next-generation growth strategy that effectively engages both households and businesses.“

Economic forecast revisions (Oct. 2024 → Mar. 2025):
· Economic growth rate: 2.2% → 1.5% (-0.7%p) / Potential growth rate: 2.1% → 1.9% (-0.2%p)