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.

View Comments (0)