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S. Korean economic growth rate to be restored to 2.5 to 2.6%: President Moon

2019-05-10 177 Dailymotion

Going back to the televised interview of President Moon Jae-in last night.<br />The president showed some optimism on the economic front,... saying things may be steadily turning around.<br />He said South Korea's economic growth rate is expected to move up to more than two percent this year,... and there are positive trends in employment.<br />Park Hee-jun reports. President Moon forecasts the South Korean economy will achieve an over two percent growth rate in the latter half of the year.<br />"The causes of low growth, sluggish exports and investment are showing signs of recovery. The government expects and anticipates the potential growth rate to be restored to the mid-to-high two percent range in the second half of the year."<br />President Moon said economic growth is an area of concern,... and his goal is to pull the number up to 2.5 to 2.6 percent -- from the minus 0.3 percent recorded in the first quarter of this year.<br />He also expects better news on the employment front.<br />Although the number of newly employed in South Korea dropped below 100-thousand in the past year,... the president said he expects that number to double to 200-thousand this year.<br />As for ways to boost the economy,... the president emphasized the need to find new growth engines and to foster innovative growth.<br />"We face the urgent task of finding new growth engines to revitalize the economy. For that, the system semiconductors, bio health, and future automobile fields will be intensively nurtured."<br />He added that small and mid-sized companies in South Korea are already excelling in these areas.<br />Especially for future cars,... the president says local SMEs are showing great progress exporting compact cars and electric cars.<br />The president says that should create additional jobs and lead the country into the fourth industrial revolution.<br />Park Hee-jun, Arirang News. <br />

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