Lee Chang-yong, the governor of the Bank of Korea, explained during a press conference held right after the Monetary Policy Committee on the 29th that the growth rate forecast for this year is 0.8%, stating that "domestic demand contributes 0.8 percentage points, assuming a net export contribution of 0 percentage points."
The governor noted regarding the net export contribution that "the impact of U.S. tariffs is likely to appear from the second half, and the net export contribution for next year will worsen to -0.3 percentage points," adding that "domestic demand is expected to rebound from the first quarter as the low point."
He specifically stated, "The construction economy is expected to improve somewhat as the excess investment in local areas is resolved, with the second half seen as the low point," adding, "However, while it may be suggested to support construction companies as the construction industry struggles, the important task for the new government is to stimulate the economy without repeating past mistakes (such as rising housing prices)."