Key View

• We expect South Korea to diversify its dairy imports in the medium-to-long term, reducing its dependence on the US.
• The signing of the RCEP FTA in November 2020 will alter South Korea's trade dynamics and contribute to this trend. We believe that both Australia and New Zealand will increase their market share of South Korean cheese

Key View

• We at Fitch Solutions forecast the South Korean economy to contract 1.1% in 2020, down from a previous forecast of 0.7%, as the Covid-19 pandemic continues to provide headwinds to growth.
• Domestic activity will recover slowly, given subdued consumer confidence, but a gradual easing of lockdown measures and supportive monetary and

Key View

• We at Fitch Solutions have adjusted up our forecast for South Korea’s fiscal deficit in 2020 from 4.0% previously to 4.4% following the passage of a fourth stimulus package in September.
• Based on the outlines of the 2021 budget proposal, we forecast that in 2021 the government will record a narrower deficit of 4.2% of GDP.
• We assume

Key View

• Online retail In South Korea is increasingly outperforming that of sales in brick and mortar stores as coronavirus-related demand-side risks are changing consumer purchasing patterns.
• We believe that the Covid-19 pandemic has acted as a catalyst for a distinct shift in Korean purchasing patterns. E-groceries, household goods and

Key View

• The three South Korean telecoms incumbents reported resilient operational and financial results in the first half of 2020, supporting our bullish view of South Korea’s telecoms sector.
• 5G will remain the key priority for operator capex in the coming quarters, although we expect funds will be earmarked for acquisition of cable TV

Key View

• We at Fitch Solutions now expect the Bank of Korea (BOK, the central bank) to keep its benchmark policy rate unchanged at 0.50% for the rest of 2020, having previously forecast another 25 basis points (bps) cut.
• We highlight that the BOK remains wary of the sluggish economic conditions in South Korea and as such it will maintain its

Key View

• Covid-19 offered a turning point in South Korea's long-stalled push for telemedicine.
• Several factors such as continued growth in the demand for and delivery of healthcare will drive new opportunities in telecare in South Korea.
• Risks may restrict revenue- earning opportunities.

Covid-19 Accelerated Uptake Of Digital Health

Key View

• We at Fitch Solutions expect South Korea’s current account surplus to come in at 3.9% of GDP in 2020, up from 3.6% in 2019 and revised from 4.9% previously.
• The surplus is set to grow slightly in 2020 as a slump in private sector import demand, is partially offset by fiscal stimulus, while external demand recovers unevenly through