Sg Lee on economic growth
From Why Trump’s tariffs move is different from past crises: SM Lee · · The Straits Times
“The impact on us is growth this year. We were hoping for 1 to 3% growth. MTI has revised the forecast; they've just put out a new forecast today. They've put it down to 0 to 2%.”
On , Sg Lee, CEO & Founder at Toss, spoke about economic growth during Why Trump’s tariffs move is different from past crises: SM Lee on The Straits Times.
About Sg Lee
SG Lee, CEO and founder of Toss, has commented on the potential economic impact of U.S. trade policy changes. In April 2025, he stated that the U.S. wants to replace Most Favored Nation status with reciprocal tariffs, which he said would harm small countries because they lack bargaining power. He noted that Singapore's Ministry of Trade and Industry had revised its 2025 growth forecast down to 0–2%, and he predicted slower growth and a possible recession in the medium term. Lee has also discussed Toss's business strategy and IPO plans. In December 2022, he said the company was financially ready for an IPO but had not decided on a market or timing, describing the IPO as "Day One" rather than an endpoint. He noted that Toss had half of South Korea's population as registered users and a 20% market share of online payments, and that its buy now, pay later product would be distributed to that base. He also said Toss had acquired a stake in mobility operator VCNC (Tada), citing the high frequency of transactions in Seoul as a key factor.