S. Korean PM gives optimistic outlook for S. Korean economy

BERLIN, April 21 (Yonhap) -- South Korea's economy will grow between 3 and 4
percent next year after starting to recover from earlier declines by the second
quarter of this year, the country's prime minister said in an interview with a
German daily published Tuesday.

"South Korea's economy is estimated to record positive growth in the second
quarter compared to the previous quarter, and further growth in the fourth
quarter compared to the same period last year," Prime Minister Han Seung-soo,
currently visiting Europe, told the German daily Handelsblatt.
"South Korea will be among the group of nations that will be the first to rise
out of the global economic recession," he said.
Asia's fourth largest economy, struck by the U.S.-sparked economic crisis,
contracted 5.1 percent in the last quarter of 2008.
The International Monetary Fund has projected a 1.5 percent growth for South
Korea next year, far below its earlier estimate of a 4.2 percent expansion as the
global recession's sluggish recovery is expected to wreak havoc on South Korea's
export-driven economy.
"The crisis is an opportunity for Asian nations," Han said in the interview. "If
South Korea, China and Japan agree to integrate their markets, they will become
one of the most influential blocs."
Han also said that once minor obstacles are removed the free trade agreement
between South Korea and the European Union would be concluded soon. Attempts to
seal the trade deal failed early this month over tariff and duty drawback issues.
Han is scheduled to head to Slovakia on Wednesday and then to the Netherlands
before returning to Seoul later this week.
brk@yna.co.kr
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