404South Korea will stay at 2.8 percent growth rate, BOKs governor Lee Ju-Yeol said - NSP NEWS AGENCY(English)
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“South Korea will stay at 2.8 percent growth rate,” BOK’s governor Lee Ju-Yeol said

NSP NEWS AGENCY, By Jiye Kim Journalist, 2015-10-06 12:07 END7
#bank #interest #economy #korea #business

(Seoul=NSP News Agency) Jiye Kim Journalist = Bank of Korea Gov. Lee Ju-yeol said that the Korean economy will likely grow as expected 2.8 percent this year.

Lee said in the Strategy and Finance Committee meeting on October 5, “Although the domestic side of the economy showing signs of recovery, still the unstable, stagnating world economy makes it difficult to draw concrete conclusion.” He added, however,"There should be no change to the 2.8 percent growth estimate.”

“Even though ‘Black-Friday effect’ has not yet been applied, there are some positive signs overall domestic market. Therefore the economy will continue to recover,” Lee exclaimed.

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When asked of a possible impact of rise in the U.S. interest rate, he estimated that any ill-effects will be limited as the process takes place gradually and over a long period of time.

On the possible fallout from a U.S. rate hike and its effect on local companies, Lee said, some businesses would struggle in the face of tough challenges.

NSP News Agency/NSP TV Jiye Kim Journalist, graekim@nspna.com
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