South Korea Says Export Recovery to Continue, Consumption Remains Weak

South Korea will raise capital gains taxes on owners of multiple homes and impose fresh mortgage curbs to rein in speculators who policymakers blame for stoking a housing bubble in main regions across the nation. (Reuters Photo/Kim Hong-ji)

By : Cynthia Kim | on 1:46 PM March 09, 2017
Category : International, Asia-Pacific

Seoul. South Korea's exports will continue to recover with improving factory production and investment activities, even as domestic demand remains weak amid political uncertainties, the finance ministry said on Thursday (09/03).

Shipments of semiconductors and electronic components are driving the exports recovery, while sluggish domestic demand is holding back the overall growth, the ministry said in its monthly assessment of the economy.

The ministry added the economy faces uncertainties such as the anticipated interest rate hike by the Federal Reserve and political uncertainties at home.

On Friday, the Constitutional Court is due to uphold or dismiss parliament's impeachment of President Park Geun-hye over an influence-peddling scandal involving a long-time friend Choi Soon-sil.


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