News Summary: SKorea sees risk of slower growth

News Summary: SKorea's nominee for finance minister sees slower-than-expected growth

Associated Press

GROWTH RISK: South Korea's nominee for finance minister says the recovery in Asia's fourth-largest economy is weak and might need additional government stimulus.

QUICK ACTION: Hyun Oh-seok said Wednesday at a parliamentary hearing on his nomination that South Korea's economy may not achieve the 3 percent growth projected by the government and he would quickly introduce measures to aid the recovery.

MORE SPENDING?: His remarks gave more weight to the view that President Park Geun-hye's new economic team will boost government spending. Latest data show South Korea's economic recovery is fragile, with exports up just 0.6 percent in the first two months of the year.

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