Korea’s economy

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Thanks for sharing about status of the economy of South Korea.

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Teacher Nina

South Korea’s economy is not in full swing, although it shows a slight recovery these days.

>> correct

>> OR: South Korea’s economy is not in full swing, although it shows a slight improvement these days.

Korea’s economy has been severely hit by the MERS(Middle East Respiratory Syndrome) outbreak in May 2015, which caused the consumer sentiment index fall below 80.

>> correct

The below 100 means that the number of people who believe economy will improve is lower the number of people who are optimistic.

>> The below 100 means that the number of people who believe the economy will improve is lower the number of people who are optimistic. 

>> OR: Below 100 means that the number of people who believe that the economy will improve is lower the number of people who are optimistic.

Korea’s GDP will shrink for the first time since 2008.

>> correct

The Korean government is making an all-out effort to boost and revitalize economy so that the annual growth rate can reach a three percent that is believed to be a minimum growth rate not to make the society collapse.

>> correct

The government has recently lowered the Individual Consumption Tax from 5% to 3% to increase the domestic consumption.

>> correct

In addition, it also kicked off the nationwide grand sales so called Korean Black Friday on Oct. 1.

>> correct

Almost all large retailers participated in an event even, although it fell short of people\'s expectations.

>> Almost all large retailers even participated in an event, although, it fell short of people\'s expectations. .