(MENAFN) South Korea's economy is predicted to expand by 3 percent this year, driven by the government's procedures aimed at boosting its overall competitiveness and expansionary fiscal policy.
Drop in exports and unexpected outbreak of Middle East Respiratory Syndrome affected the country's growth by declining below the 1 percent mark in both first and second quarters.
In order to ensure stable growth, the government is keeping close watch on potential problems associated with the marking up of key interest rates in the United States, plus suspicions surrounding China's economy.
'The government is also committed to pushing forward reforms in labor, finance, public and educational fields that can enhance the country's competitiveness,' said the finance minister.
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