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OECD's leading index for S. Korea drops for 5th straight month in Dec. Updated: 2022-01-20 17:13:58 KST

A leading index that shows how the South Korean economy will perform over the next half year fell for the fifth month in a row in December.
The Organization for Economic Cooperation and Development reported on Thursday that the composite leading indicator or CLI for South Korea's economy stood at 101.2 for December, down point-zero-nine on-month.
However, December's figure was still above the benchmark 100, indicating the economy is still expanding.
The CLI gauges how an economy will unfold in the next six months, based on industrial output, GDP and finance market conditions.

And the alarm bell comes as South Korea is bracing for uncertainties that are forecast to stay throughout 2022.
Pointing to both internal and external uncertainties, Finance Minister Hong Nam-ki called for policy goals that could deal with the current complex situation.

"South Korea should create a harmonious balance in virus prevention measures, economic recovery, people's livelihoods, higher interest rates and exports. And this should be done while considering the virus situation, lingering uncertainties and the financial situation."

That includes efforts to support the country's exports, a major pillar of South Korea's economy, by addressing shipping costs and supply issues.
The minister pledged to provide at least 8 ships in January to ease the logistics crunch.
The government also plans to keep monitoring the supply situation of the 200 key materials, and prevent any issues by providing financial support and finding alternative import routes.
Kim Sung-min, Arirang News.
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