{"id":44981,"date":"2026-04-18T04:20:40","date_gmt":"2026-04-18T04:20:40","guid":{"rendered":"https:\/\/www.vtmarkets.com\/kr\/uncategorized\/dbs-%ec%9d%b4%ec%bd%94%eb%85%b8%eb%af%b8%ec%8a%a4%ed%8a%b8%eb%93%a4-%ec%a4%91%ea%b5%ad-2026%eb%85%84-1%eb%b6%84%ea%b8%b0-%ec%84%b1%ec%9e%a5%eb%a5%a0-5-0%ec%88%98%ec%b6%9c%c2%b7\/"},"modified":"2026-04-18T04:20:40","modified_gmt":"2026-04-18T04:20:40","slug":"dbs-%ec%9d%b4%ec%bd%94%eb%85%b8%eb%af%b8%ec%8a%a4%ed%8a%b8%eb%93%a4-%ec%a4%91%ea%b5%ad-2026%eb%85%84-1%eb%b6%84%ea%b8%b0-%ec%84%b1%ec%9e%a5%eb%a5%a0-5-0%ec%88%98%ec%b6%9c%c2%b7","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/kr-asia\/live-updates\/dbs-%ec%9d%b4%ec%bd%94%eb%85%b8%eb%af%b8%ec%8a%a4%ed%8a%b8%eb%93%a4-%ec%a4%91%ea%b5%ad-2026%eb%85%84-1%eb%b6%84%ea%b8%b0-%ec%84%b1%ec%9e%a5%eb%a5%a0-5-0%ec%88%98%ec%b6%9c%c2%b7\/","title":{"rendered":"DBS \uc774\ucf54\ub178\ubbf8\uc2a4\ud2b8\ub4e4 \u201c\uc911\uad6d 2026\ub144 1\ubd84\uae30 \uc131\uc7a5\ub960 5.0%\u2026\uc218\ucd9c\u00b7\uc0dd\uc0b0 \uacac\uc870, \uc218\uc694\ub294 \ubd80\uc9c4\u201d"},"content":{"rendered":"

\uc911\uad6d\uc758 2026\ub144 1\ubd84\uae30 GDP(\uad6d\ub0b4\ucd1d\uc0dd\uc0b0) \uc131\uc7a5\ub960\uc740 \uc804\ub144 \ub3d9\uae30 \ub300\ube44 5.0%\ub85c, 2025\ub144 4\ubd84\uae30(4.5%)\uc5d0\uc11c \uc0c1\uc2b9\ud588\ub2e4. \uc131\uc7a5\uc758 \ubc84\ud300\ubaa9\uc740 \ud574\uc678 \uc218\uc694(\uc218\ucd9c \uc218\uc694)\uc640 \uc548\uc815\uc801\uc778 \uacf5\uc5c5 \uc0dd\uc0b0\uc774\uc5c8\uc73c\ub098, \uad6d\ub0b4\uc5d0\uc11c\ub294 \uc18c\ube44\u00b7\ud22c\uc790\u00b7\uc2e0\uc6a9(\ub300\ucd9c) \uc218\uc694\uac00 \uc5ec\uc804\ud788 \ubd80\uc9c4\ud588\ub2e4.<\/p>\n

1\ubd84\uae30 \uc218\ucd9c\uc740 \uc804\ub144 \ub3d9\uae30 \ub300\ube44 14.7% \ub298\uc5c8\ub2e4. \ub2e4\ub9cc 3\uc6d4\uc5d0\ub294 \uc911\ub3d9 \uad00\ub828 \ucc28\uc9c8(\ubd84\uc7c1\u00b7\ubb3c\ub958 \ubd88\uc548 \ub4f1)\ub85c \uc99d\uac00\uc138\uac00 \ub454\ud654\ub410\ub2e4. 1\ubd84\uae30 \uc0b0\uc5c5\uc0dd\uc0b0(\uacf5\uc7a5\uc5d0\uc11c\uc758 \uc0dd\uc0b0\ub7c9 \uc9c0\ud45c)\uc740 \uc804\ub144 \ub3d9\uae30 \ub300\ube44 6.1% \uc99d\uac00\ud588\ub2e4. \uacf5\uae09 \uacfc\uc789(\uc218\uc694\ubcf4\ub2e4 \uc0dd\uc0b0\uc774 \uacfc\ub3c4\ud55c \uc0c1\ud0dc) \uc5b5\uc81c \uc870\uce58\uac00 \uc774\uc5b4\uc9c0\ub294 \uac00\uc6b4\ub370\uc11c\ub3c4 \uc218\ucd9c \uc218\uc694\uac00 \uc0dd\uc0b0\uc744 \ub5a0\ubc1b\ucce4\ub2e4.<\/p>\n

External Demand Leading Growth<\/h3>\n

\ubb3c\uac00 \uc9c0\ud45c\ub3c4 \uac1c\uc120\ub410\ub2e4. PPI(\uc0dd\uc0b0\uc790\ubb3c\uac00\uc9c0\uc218: \uacf5\uc7a5 \ucd9c\uace0 \ub2e8\uacc4\uc758 \ubb3c\uac00)\ub294 3\uc6d4 \uc804\ub144 \ub3d9\uae30 \ub300\ube44 0.5% \uc0c1\uc2b9\ud558\uba70 41\uac1c\uc6d4 \ub9cc\uc5d0 \ud50c\ub7ec\uc2a4\ub85c \uc804\ud658\ud588\ub2e4. \uc774\ub294 \ud638\ub974\ubb34\uc988 \ud574\ud611 \uad00\ub828 \uacf5\uae09 \ucc28\uc9c8\ub85c \uc6d0\uc790\uc7ac \uac00\uaca9\uc774 \ub6f4 \ub370\ub2e4, \uc0dd\uc0b0\ub2a5\ub825 \uc870\uc815(\uacfc\uc789 \uc0dd\uc0b0 \uc124\ube44 \ucd95\uc18c)\uc774 \uc9c4\ud589\ub41c \uc601\ud5a5\uc73c\ub85c \ud574\uc11d\ub41c\ub2e4.<\/p>\n

PPI\uc640 CPI(\uc18c\ube44\uc790\ubb3c\uac00\uc9c0\uc218: \uac00\uacc4\uac00 \uccb4\uac10\ud558\ub294 \uc18c\ube44 \ub2e8\uacc4 \ubb3c\uac00) \ud750\ub984\uc774 \ub098\uc544\uc9c0\uba74\uc11c, \ud1b5\ud654 \uc644\ud654(\uae08\ub9ac \uc778\ud558\u00b7\uc720\ub3d9\uc131 \uacf5\uae09 \ub4f1 \uacbd\uae30\ubd80\uc591)\ub97c \uacf5\uaca9\uc801\uc73c\ub85c \ud560 \ud544\uc694\uc131\uc740 \uc904\uc5c8\ub2e4. DBS\ub294 2026\ub144 1\ub144\ubb3c LPR(\ub300\ucd9c\uc6b0\ub300\uae08\ub9ac: \uc911\uad6d\uc758 \uae30\uc900 \ub300\ucd9c\uae08\ub9ac \uc5ed\ud560) \uc778\ud558 \uc804\ub9dd\uc744 \uae30\uc874 20bp(\ubca0\uc774\uc2dc\uc2a4\ud3ec\uc778\ud2b8: 0.01%\ud3ec\uc778\ud2b8)\uc5d0\uc11c 10bp\ub85c \ub0ae\ucdc4\ub2e4.<\/p>\n

1\ubd84\uae30 GDP\uac00 5.0%\uc5d0 \ub3c4\ub2ec\ud55c \uc810\uc744 \uac10\uc548\ud558\uba74, \ud574\uc678 \uc218\uc694\ub294 \uac15\ud558\uc9c0\ub9cc \uad6d\ub0b4 \uacbd\uae30\ub294 \uc57d\ud55c \u2018\uc591\uadf9\ud654\u2019\uac00 \ub69c\ub837\ud558\ub2e4. \uc774\uc5d0 \ub530\ub77c \uc2dc\uc7a5 \uc804\ubc18\uc5d0 \ubb34\ucc28\ubcc4\uc801\uc73c\ub85c \ub099\uad00\ud558\uae30\ubcf4\ub2e4, \ud574\uc678 \ub9e4\ucd9c \ube44\uc911\uc774 \ud070 \uae30\uc5c5\uc744 \uc120\ud638\ud558\uace0 \ub0b4\uc218 \uc18c\ube44 \uc758\uc874\ub3c4\uac00 \ub192\uc740 \uae30\uc5c5\uc740 \uc0c1\ub300\uc801\uc73c\ub85c \ubcf4\uc218\uc801\uc73c\ub85c \ubcfc \ud544\uc694\uac00 \uc788\ub2e4.<\/p>\n

1\ubd84\uae30 \uc218\ucd9c\uc774 14.7% \uc99d\uac00\ud55c \uc810\uc740 \uc81c\uc870\uc5c5 \uc5c5\ud669\uc758 \ud0c4\ub825\uc744 \uc2dc\uc0ac\ud55c\ub2e4. 4\uc6d4 12\uc77c \uc911\uad6d \ud574\uad00\ucd1d\uc11c(General Administration of Customs) \uc790\ub8cc\uc5d0\uc11c\ub294 \uc804\uae30\ucc28\uc640 \uc7ac\uc0dd\uc5d0\ub108\uc9c0 \ubd80\ud488 \ub4f1 \ucca8\ub2e8(\uace0\ubd80\uac00) \uc81c\ud488 \uc218\ucd9c\uc774 \ub450\ub4dc\ub7ec\uc84c\ub2e4. \ud5a5\ud6c4 \uba87 \uc8fc \ub3d9\uc548 \uc218\ucd9c\ud615 \uae30\uc220\u00b7\uc0b0\uc5c5 ETF(\uc0c1\uc7a5\uc9c0\uc218\ud380\ub4dc: \uc9c0\uc218\ub97c \ucd94\uc885\ud558\ub3c4\ub85d \uac70\ub798\uc18c\uc5d0 \uc0c1\uc7a5\ub41c \ud380\ub4dc)\uc5d0 \ub300\ud55c \ucf5c\uc635\uc158(\ud2b9\uc815 \uac00\uaca9\uc5d0 \uc0b4 \uad8c\ub9ac) \ub9e4\uc218\uac00 \ud65c\uc6a9 \uac00\ub2a5\ud55c \uc804\ub7b5\uc73c\ub85c \ubcf4\uc778\ub2e4.<\/p>\n

Domestic Weakness And Hedging<\/h3>\n

\ubc18\uba74 \ubd80\ub3d9\uc0b0 \ubd80\ubb38 \ubd80\uc9c4\uc774 \uc774\uc5b4\uc9c0\uace0 \uc2e0\uc6a9(\ub300\ucd9c) \uc99d\uac00\uc138\ub3c4 \uc57d\ud574 \uad6d\ub0b4 \uacbd\uae30 \ubd80\ub2f4\uc740 \uc9c0\uc18d\ub418\uace0 \uc788\ub2e4. \ucd5c\uc2e0 \uc218\uce58\uc5d0 \ub530\ub974\uba74 \uc911\uad6d 70\uac1c \uc8fc\uc694 \ub3c4\uc2dc\uc758 \uc2e0\uaddc \uc8fc\ud0dd\uac00\uaca9\uc740 3\uc6d4\uc5d0\ub3c4 \ud558\ub77d\ud574 12\uac1c\uc6d4 \uc5f0\uc18d \ub0b4\ub9bc\uc138\ub97c \uae30\ub85d\ud588\ub2e4. \uc774\uc5d0 \ub530\ub77c \ubd80\ub3d9\uc0b0\u00b7\uc740\ud589 \uc5c5\uc885 \uc9c0\uc218\uc5d0 \ub300\ud55c \ud48b\uc635\uc158(\ud2b9\uc815 \uac00\uaca9\uc5d0 \ud314 \uad8c\ub9ac)\uc774 \uad6d\ub0b4 \ub9ac\uc2a4\ud06c\uc5d0 \ub300\ud55c \ud5e4\uc9c0(\uc704\ud5d8\uc744 \uc904\uc774\uae30 \uc704\ud55c \ubc29\uc5b4) \uc218\ub2e8\uc774 \ub420 \uc218 \uc788\ub2e4.<\/p>\n

\uc778\ud50c\ub808\uc774\uc158(\ubb3c\uac00 \uc0c1\uc2b9)\uc774 \ub2e4\uc18c \uace0\uc815\ub418\uba74\uc11c, \uc911\uc559\uc740\ud589\uc758 \uacf5\uaca9\uc801\uc778 \ud1b5\ud654 \uc644\ud654 \uac00\ub2a5\uc131\uc740 \ud06c\uac8c \ub0ae\uc544\uc84c\ub2e4. \uc5f0\uac04 \uae08\ub9ac \uc778\ud558 \uae30\ub300\uac00 10bp \uc218\uc900\uc73c\ub85c \uc904\uc5b4\ub4e0 \uc810\uc740 \uc704\uc548\ud654\uc5d0 \uc6b0\ud638\uc801\uc73c\ub85c \uc791\uc6a9\ud560 \uc218 \uc788\ub2e4. \uc774\ub294 2025\ub144 \ub0b4\ub0b4 \uc774\uc5b4\uc84c\ub358 \ud1b5\ud654 \uc57d\uc138(\uc704\uc548\ud654 \uc57d\uc138) \uc2ec\ub9ac\uc640\ub294 \ub2e4\ub978 \ud750\ub984\uc73c\ub85c, \ud1b5\ud654\uc5d0 \ub300\ud55c \uc57d\uc138 \ud3ec\uc9c0\uc158(\ud558\ub77d\uc5d0 \ubca0\ud305\ud55c \uac70\ub798)\uc744 \ucd95\uc18c\ud560 \uc2dc\uc810\uc77c \uc218 \uc788\ub2e4.<\/p>\n

\uc0dd\uc0b0\uc790\ubb3c\uac00 \uc0c1\uc2b9\ub960\uc774 3\ub144\uc5ec \ub9cc\uc5d0 \ud50c\ub7ec\uc2a4\ub85c \ub3cc\uc544\uc120 \uac83\uc740 \uc0b0\uc5c5 \uc774\uc775\uc5d0 \uc911\uc694\ud55c \ubcc0\ud654\ub2e4. \uc6d0\uc790\uc7ac \ube44\uc6a9 \uc0c1\uc2b9\uc774 \ubc30\uacbd\uc778 \ub9cc\ud07c, \uad6c\ub9ac\u00b7\ucca0\uad11\uc11d \uc120\ubb3c(\ubbf8\ub798 \uc2dc\uc810 \uac00\uaca9\uc744 \ubbf8\ub9ac \uc815\ud558\ub294 \uac70\ub798)\uc5d0 \ub300\ud574\uc11c\ub294 \uac15\uc138 \uad00\uc810\uc774 \ud798\uc744 \uc5bb\ub294\ub2e4. \uc774\ub294 2020\ub144\ub300 \ucd08\ubc18\uc5d0 \ub098\ud0c0\ub0ac\ub358 \uc0b0\uc5c5 \ud68c\ubcf5 \uad6d\uba74\uc758 \ucd08\uae30 \ud750\ub984\uacfc \uc720\uc0ac\ud55c \uce21\uba74\uc774 \uc788\ub2e4.<\/p>\n

\uc911\ub3d9 \ucc28\uc9c8 \uac19\uc740 \uc9c0\uc815\ud559\uc801 \ubcc0\uc218\ub294 \ubcc0\ub3d9\uc131\uc744 \ud0a4\uc6b8 \uc218 \uc788\ub2e4. \uc774\ub2ec \ud574\uc0c1 \uc6b4\uc1a1 \ubcf4\ud5d8\ub8cc\uac00 \uc774\ubbf8 5% \uc0c1\uc2b9\ud588\ub294\ub370, \uc774\ub294 \uae34\uc7a5\uc744 \ubc18\uc601\ud55c\ub2e4. \ud2b9\ud788 \uc5d0\ub108\uc9c0\u00b7\ubb3c\ub958 \uc5c5\uc885\uc5d0\uc11c\ub294 \uacf5\uae09\ub9dd \ucda9\uaca9\uc5d0 \ub300\ube44\ud574 \uc635\uc158\uc744 \ud65c\uc6a9\ud55c \ud5e4\uc9c0\ub97c \uace0\ub824\ud560 \ud544\uc694\uac00 \uc788\ub2e4.<\/p>\n","protected":false},"excerpt":{"rendered":"

\u2018\uc218\ucd9c\uc774 \uc911\uad6d\uc744 \uc0b4\ub838\ub2e4\u2019 2026\ub144 1\ubd84\uae30 GDP 5.0%\ub85c \ubc18\ub4f1\ud588\uc9c0\ub9cc \ub0b4\uc218\u00b7\ubd80\ub3d9\uc0b0\u00b7\uc2e0\uc6a9\uc740 \ubd80\uc9c4. PPI \ud50c\ub7ec\uc2a4 \uc804\ud658\uc5d0 \uae08\ub9ac \uc778\ud558 \uae30\ub300 \ucd95\uc18c, \uc218\ucd9c\uc8fc \uc120\ud638\u00b7\ub0b4\uc218\uc8fc \uacbd\uacc4.<\/p>\n","protected":false},"author":87,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[71],"tags":[],"class_list":["post-44981","post","type-post","status-publish","format-standard","hentry","category-live-updates"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/posts\/44981","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/users\/87"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/comments?post=44981"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/posts\/44981\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/media?parent=44981"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/categories?post=44981"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/tags?post=44981"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}