S. Korea's economy to expand 3.6 pct in 2009: think tank
15/10/2008 17:31
Samsung Economic Research Institute (SERI), one of South Korea's major
think tanks, said today that the nation's economy is expected to grow 3.6
percent next year.
The forecast is lower than the 2008 GDP growth estimate of
4.4 percent by the institution.
"Amid a global economic slowdown, South
Korea's exports will likely grow at a single digit pace next year," SERI said in
the report.
The report cited that the country is depending solely on exports
to prop up its economy amid sluggish domestic consumption.
However, the
impact of US-sparked financial turmoil spreads has already slowed the country's
export market which dims nation' s growth outlook, it said.
Xinhua
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