South Korea braces for tough H1, promises support for exports, investment

FILE PHOTO: Crane carries a container from a ship at the PNC container terminal at the Busan New Port in Busan

SEOUL (Reuters) – South Korea’s finance minister said on Friday the country’s exports and investment would be weak at least through the first half of the year and that the government would provide maximum support to ease the situation.

“The government will provide maximum support to boost exports and investment by companies so that the timing of an economic rebound can be advanced,” Minister Choo Kyung-ho said at a meeting of trade-related officials.

He also said inflation would hover around 5% in annual terms during the first quarter before easing throughout the rest of the year. The central bank has said inflation would ease towards 3% later in the year.

(Reporting by Choonsik Yoo; Editing by Leslie Adler and Lincoln Feast.)

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