South Korea's presidential candidate Park Geun-hye of the ruling Saenuri Party waves to supporters during her presidential election campaign in Suwon, south of Seoul, South Korea, Monday, Dec. 17, 2012. South Korea's presidential election is scheduled for Dec. 19. (AP Photo/Lee Jin-man)
News Summary: SKorea sees risk of slower growth
Published: 07:03:59 PM, Wed 13 March 2013 UTC
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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