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8/14, 10:55 AM (Source: TeleTrader)
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South Korea's GDP to rise in Q3 - FinMin

South Korean finance minister Hong Nam-ki (pictured) said on Friday he expects that the economy will start growing in the third quarter even though he warned there could be major decrease regarding the export.

Hong stated "export to China accounts for about one-fourth of the combined (South) Korean export. It is meaningful for South Korea to post a positive export growth to China amidst the COVID-19 crisis," adding the government was "not considering" the second offer of government relief grants to all households.

He added that the country had "much room for additional fiscal spending as it has a lower ratio of government debts to GDP than other countries."

Breaking the News / TF