South Korean economy set to grow

SEOUL: South Korea´s economy is set to expand by more than 3 percent this year, amid subsiding North Korea risk, the finance minister said on Monday.
"It looks certain, our economy will grow more than 3 percent this year," Kim Dong-yeon told reporters during a news conference in Sejong, south of Seoul.
"In terms of external risks, risks related to North Korea and other uncertainties which posed threat to growth in the third quarter have stabilized somewhat," Kim said.
The finance ministry in July said the economy would grow 3 percent this year.
Kim said the government´s policy focus will be on boosting jobs and encouraging corporate innovation, to sustain growth momentum after the economy saw its fastest growth in seven years in the third quarter.
A policy report due in mid-December will contain supporting measures for job creation, as well as policies to tackle demographic challenges including ageing population and low birth rates. Asked to comment on the won´s recent gains against the dollar, Kim said the government´s existing stance that it only intervenes in cases of severe market volatilities is intact.