S Korean gov't revises down 2025 growth outlook to 1.8 pct

South Korea's government on Thursday revised down this year's growth outlook amid the expected export slump following the launch of the new U.S. administration.

Real gross domestic product (GDP), adjusted for inflation, was forecast to grow 1.8 percent in 2025, down from 2.2 percent estimated in July 2024, according to the Ministry of Economy and Finance.

This year's growth forecast was lower than an estimate of 2.1 percent by the Organization for Economic Cooperation and Development (OECD), 2.0 percent by the International Monetary Fund (IMF), and 1.9 percent by the Bank of Korea (BOK).

The steep downward revision came as concerns mounted over export slowdown on intensifying competition among manufacturers of semiconductors, the country's biggest export item, and the scheduled inauguration of the new U.S. administration heralding the trade policy changes.

The outlook for consumer price inflation was set at 1.8 percent for 2025, down from 2.3 percent for 2024.

S Korean gov't revises down 2025 growth outlook to 1.8 pct

China's domestically produced large passenger aircraft, the C919, has begun flying a new route linking Guangzhou, the capital of south China's Guangdong Province, with Wenzhou, a major economic city in east China's Zhejiang Province, according to the route's operator, China Southern Airlines. Monday's launch of the Guangzhou–Wenzhou service marks the regular deployment of the C919 on passenger flights between the two cities. China Southern Airlines plans to operate two round-trip flights daily on the route.

The C919 is a narrow-body passenger jet with a maximum capacity of 192 seats. It is China's first self-developed trunk jetliner, built to international airworthiness standards and featuring independently registered intellectual property rights.

China Southern Airlines, the country's largest carrier, has taken delivery of 10 C919 aircraft. As of Monday, its C919 fleet had operated more than 8,300 flights, carrying over 1.13 million passengers and serving 21 destinations.

China's homegrown C919 aircraft launches new domestic air route