Nearly half of Korean companies plan budget cuts for 2025

Nearly half of Korean companies plan to tighten budgets in 2025, according to a recent survey. This reflects growing concerns about low economic growth, with major financial institutions predicting a 1 percent growth rate for the year. The survey, conducted by the Korea Enterprises Federation, found that 49.7 percent of executives intend to implement downsizing measures. This marks a significant increase in pessimism compared to previous years, particularly among large enterprises. Concerns about the impact of protectionist policies from the incoming Trump administration also contribute to this cautious outlook. Many companies are unsure about future revenue sources, with 82 percent anticipating negative effects on the Korean economy.