S. Korea's economy to contract 2 pct this year: finance minister

SEOUL, Feb. 10 (Yonhap) -- South Korea's economy will likely shrink 2 percent this year, the nation's new finance minister forecast Tuesday, downgrading the government's earlier 3 percent growth target, citing deepening global recession woes.

The downgrade was unveiled in the first press conference held by Yoon Jeung-hyun
after his inauguration as the finance minister earlier in the day.