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Korea's Aging Population Predicted to Wipe Out Current Account Surplus

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What Explains Current Account Surplus in Korea?
Chirok Han, Kwanho Shin

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Korea's current account surplus has been growing due to changes in its population, not just economic factors. Demographics play a big role in this trend, with older populations leading to more surplus. Adjusting the exchange rate or increasing fiscal policies can help reduce the surplus, but their impact is limited. By 2042, Korea's surplus is expected to disappear as it becomes one of the most aged economies in the world.