Home

The Korea Herald

Latest news

Most Popular

  1. 1

    Jung's paternity reveal exposes where Korea stands on extramarital babies

    Jung's paternity reveal exposes where Korea stands on extramarital babies
  2. 2

    Samsung entangled in legal risks amid calls for drastic reform

    Samsung entangled in legal risks amid calls for drastic reform
  3. 3

    Heavy snow alerts issued in greater Seoul area, Gangwon Province; over 20 cm of snow seen in Seoul

    Heavy snow alerts issued in greater Seoul area, Gangwon Province; over 20 cm of snow seen in Seoul
  4. 4

    [Herald Interview] 'Trump will use tariffs as first line of defense for American manufacturing'

    [Herald Interview] 'Trump will use tariffs as first line of defense for American manufacturing'
  5. 5

    Agency says Jung Woo-sung unsure on awards attendance after lovechild revelations

    Agency says Jung Woo-sung unsure on awards attendance after lovechild revelations
  1. 6

    Seoul blanketed by heaviest Nov. snow, with more expected

    Seoul blanketed by heaviest Nov. snow, with more expected
  2. 7

    [Health and care] Getting cancer young: Why cancer isn’t just an older person’s battle

    [Health and care] Getting cancer young: Why cancer isn’t just an older person’s battle
  3. 8

    K-pop fandoms wield growing influence over industry decisions

    K-pop fandoms wield growing influence over industry decisions
  4. 9

    [Graphic News] International marriages on rise in Korea

    [Graphic News] International marriages on rise in Korea
  5. 10

    Korea's auto industry braces for Trump’s massive tariffs in Mexico

    Korea's auto industry braces for Trump’s massive tariffs in Mexico
지나쌤

Finance minister vows greater effort to maintain growth momentum

By Yonhap

Published : Oct. 26, 2017 - 17:42

    • Link copied

South Korea's top economic policymaker said Thursday that the government will take steps to maintain current growth momentum through next year, following the latest data, which showed Asia's fourth-largest economy is expected to reach its growth target of 3 percent in 2017.

Earlier in the morning, the Bank of Korea said the economy expanded a solid 1.4 percent in the July-September period from the previous quarter, marking the fastest quarterly growth in seven years.

The BOK forecast country's annual economic growth will reach 3.15 percent even if the economy expands only 0.20 percent in the fourth quarter.

(Yonhap) (Yonhap)

"I heard that many people are still struggling despite strong growth in the third quarter," Finance Minister Kim Dong-yeon said in a meeting with leaders of Won Buddhism. "The government predicted the economy will grow 3 percent this year. We will strive to repeat the feat in 2018."

The policymaker said he will look into microeconomic plans in order to have the economic upturn lead to job creation and help people share the fruits of growth.

The South Korean government earlier forecast a 3 percent growth for both 2017 and 2018, while the central bank predicted a 2.9 percent gain in 2018. (Yonhap)

More from Headlines