This report provides an economic outlook for Korea in August 2023. The economy showed a moderation in the second quarter, driven by improvements in exports and manufacturing. It is expected to gradually improve with a rebound in the IT industry and an increase in Chinese tourists. However, there remains a high degree of uncertainty concerning the growth path related to China's economic growth. The report also includes scenario analysis and an evaluation of key economic indicators. The report is the English version of the "Korea Economic Outlook" published on August 24, 2023.