Political instability and...
Written : 2025-03-20 17:00:00 KST
Political instability and Trump's protectionist tariff policies: S. Korea's economic growth under threat?
The economic effects of Korea's political paralysis have been extensive to say the least and no where has this been more pronounced than in domestic spending patterns as consumers maintain a tight grip on purse strings. Our Moon Hye-ryeon files this report.
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paralysis [pəˈræləsɪs] 마비
extensive 광범위한 [폭넓은], 대규모의
to say the least 조금도 과장하지 않고, 아무리 적게 보아도.
pronounced 확연한; 뚜렷한; 두드러진, 명백한
tight grip 엄격한 통제
purse strings 돈줄, 경제권
file 제기하다, 정리하다
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South Korea's ongoing presidential impeachment trial is weighing heavily on the economy. Both the Bank of Korea and the state-run Korea Development Institute have revised their economic growth forecasts downward, citing weak domestic demand fueled by political uncertainty. Consumer sentiment, as measured by the central bank, saw its steepest drop since the COVID-19 pandemic in December following the martial law declaration and subsequent trials.
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weigh heavily on ~을 크게 짓누르다, ~에게 부담을 주다
weigh on (무거운 짐이 되어) 압박하다, 괴롭히다. (=cause to worry.)
~을 (정신적으로) 짓누르다
heavily (양·정도가) 심하게 [아주 많이]
the state-run Korea Development Institute
한국개발연구원
Consumer sentiment 소비심리
subsequent trials 그 후의; 다음의, 잇따라 일어나는
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Months down the line, it has yet to recover. Despite the national Seollal holiday in January, which typically boosts spending, consumer spending declined. Rising costs of raw materials and ingredients have only exacerbated the situation, hitting small business owners particularly restaurants the hardest. "If political instability drags on, it's hard to predict when there'd be economic recovery in the future.
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months down the line 몇 달이 흐르고
has yet to recover 아직 회복되지 않았다
have yet to do 아직 … 하지 않았다
exacerbate [ɪɡ|zæsərbeɪt] (특히 질병·문제를) 악화시키다 (=aggravate)
drag on (너무 오랫동안) 질질 끌다 [계속되다]
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So when consumers feel uncertain, they tend to cut back on spending – one of the first things they cut is dining out." This small restaurant, usually packed at lunchtime, now sits idle. The owner says sales have plunged since December. "Since December, most reservations have been canceled. At first, sales dropped to about a third of previous levels, but recently, they've plunged to nearly half or even two-thirds." And this is just one of many.
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tend to (~하는) 경향이 있다
cut back on ~을 줄이다
dining out 외식
packed at lunch 점심시간에 꽉 들어찬
(crowded at lunch)
sit idle 한가롭게 앉아 있다.
plunge [plʌndʒ] 급락하다 (=plummet)
a third of previous levels 이전 수준의 1/3
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According to Statistics Korea, the number of small business owners in the country fell for the first time in January since 2021. Economists warn that continued political instability can "push back" important economic decisions being made – not just regarding domestic demand, but also in response to the new Trump administration's protectionist policies which could further strain South Korea's economy.
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for the first time 처음으로
push back 미루다
domestic demand 국내 수요, 내수
in response to (~에) 응하여, 대응하여
protectionist policies 보호무역정책
(국내산업경제의 보호, 안정을 위해 정부가 무역활동에 직접 개입하는 정책)
strain ~ 을 긴장시키다, 무리를 주다
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"We need to take a more proactive approach if there are U.S. goods or services we plan to purchase, we should buy them in advance, and companies with investment plans should consider moving them forward. This could help mitigate the effects of the Trump administration's trade policies. Right now, our economy is facing even greater challenges than in the past, partly due to a lack of strong fiscal policy."
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take a proactive approach 사전 대책을 강구하다
proactive approach 사전대책
proactive 상황을 앞서서 주도하는, 사전 대책을 강구하는
mitigate [ˈmɪtɪɡeɪt] 완화[경감]시키다 (=alleviate)
fiscal policy 금융 정책, 재정 정책
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As domestic and international uncertainties converge, the future of South Korea's economic outlook remains fragile. Moon Hye-ryeon, Arirang News.
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converge 모여 들다(opp. diverge), 집중되다, 만나다
outlook 전망 (=prospect)
fragile |frædʒl] 취약한, 손상되기 쉬운
remain fragile 여전히 취약하다
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영어 원문 출처 및 동영상 링크;
arirang news/Economy
https://m.arirang.com/news/view?id=281730
