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With omens improving, Yoon should get serious about reform

South Korea cannot just rely on central bank to propel growth

| South Korea
President Yoon Suk Yeol took office in May 2022 pledging to reduce regulation, increase innovation and boost wages but has mostly leaned on the central bank to revive growth. (Pool via Reuters)

William Pesek is an award-winning Tokyo-based journalist and author of "Japanization: What the World Can Learn from Japan's Lost Decades."

South Korea is often a vanguard of shifts in demand dynamics thanks to its sizable open economy. Judging from recent signals, the global economy may be on a better trajectory than it seemed earlier this year.

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