Due to the weak yen, Korea experienced a -2.2% economic recession in the third quarter, which could lead to a prolonged recession and a collapse of the housing market at the same time.
In a research note on the 4th, Nomura Securities said, "Countries can no longer rely on a rebound in exports for growth due to the accompanying slowdown in the global economy." predicted that
Regarding the housing collapse, the report pointed to the possibility that a recession and collapse could begin with Korea and Australia and Canada rising interest rates.
Regarding the global economic slowdown, the report said, "The simultaneous slowdown of the global economy means that countries can no longer rely on a rebound in exports for growth." Inflation is likely to continue.”
According to Bloomberg on the 4th, Mark Matthews, director of Asia Pacific research at Bank Julius Bear, said, "Export products from Taiwan and Korea are similar, but the weak yen is having a negative impact on the economy and stocks. This is not because the Fed and other central banks are implementing tightening monetary policies,” he said, pointing to Korea as the impact of the 'weak yen'. Nomura Securities Research Note, in 'The global economy slows down due to government austerity policies and rising cost of living', Major countries such as Korea, the European Union (EU), UK, Japan, Australia, Canada, etc. are expected to fall into a recession in the next 12 months. Bloomberg said that large-scale capital outflows were realized in the stock markets of Korea, Taiwan, India, Indonesia, Malaysia, Philippines, Thailand, and seven Asian countries. It reported a net outflow of $40 billion from markets in seven countries in the quarter.”
News that the scale of capital outflow is comparable to the 2008 global financial crisis said that Korea and Taiwan focused on tech stocks, and that India had a large energy import, so foreigners were selling it.