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Finance minister calls for investment and job creation

All News 14:16 December 11, 2018

SEJONG, Dec. 11 (Yonhap) -- South Korea's new finance minister on Tuesday urged companies to make investments and create jobs in the latest attempt to bolster Asia's fourth-largest economy.

In October, the Bank of Korea trimmed its economic growth outlook to 2.7 percent for 2018 from its earlier projection of 2.9 percent. It is lower than the finance ministry's 2.9 percent outlook and the International Monetary Fund's 2.8 percent prediction.

The South Korean economy grew 3.1 percent in 2017 and 2.9 percent in 2016.

Hong Nam-ki, the minister of economy and finance, pressed companies to do their parts, noting that the government will continue to prime the pump for economic revitalization.

"Let's ensure that companies make investments and create jobs with confidence under a fair rule," Hong said his inaugural speech in Sejong City, central South Korea.

Hong Nam-ki, the minister of economy and finance, delivers his inaugural speech in a government building in Sejong, central South Korea, on Dec. 11, 2018. (Yonhap)


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