South Korea at stable economic growth

(MENAFN) Emerging economies around the world have been decelerating as global trade continues to weaken. Lower demand resulting in reduced manufacturing and export activity has caused the economies to grow at slower rates, according to Saudi Gazette. The same for South Korea whose gross domestic product (GDP) was softening for over three years, economist at Asiya Investments, an investment firm specializing in Emerging Asia investments, said in a weekly analysis of the South Korean economy. Exports in the East Asian countries make up more than half of its entire economy, and having gradually slowed since the global financial crisis, have hampered the overall performance of its economy. South Korea's stable growth rate has been largely dependent on the government's stimulus. But lately, the country's tax revenue was much lower than expected, due to lower economic activity.