The two biggest stories of 2019 in South Korea were a series of meetings between US President Donald Trump and North Korean leader Kim Jong-un to discuss the denuclearization of North Korea in the first half of the year, and the trade war with Japan in the second half. President Moon Jae-in’s income-led growth policies still have not stimulated the economy. In fact, South Korea’s macroeconomic performance was virtually at a standstill; the economic growth rate in 2019 has stayed below 2.0%, showing no sign of turnaround.

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