South Korean Finance Minister Park Jae-wan, said the Korean economy in the first half of this year compared to the second half of last year, growth is likely to be less than 1%.

an official confirmed that the Park Jae-wan’s speech and said he expected the Korean economy will hit bottom in the first quarter. European debt crisis to the Korean domestic and external demand, putting pressure on it the economic slowdown.

South Korean government expects the Korean economy this year, an increase of 3.7 percent, but acknowledged that there are a lot of downside risk. Government Park Jae-wan to Members on Tuesday morning, did not consider any economic stimulus.

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