S. Korea's economy faces uncertainties despite recent recovery: finance minister

SEOUL, Aug. 21 (Yonhap) -- South Korea's economy is recovering faster than other
nations but uncertainties still linger at home and abroad as employment and
exports remain sluggish amid a global slowdown, the nation's top economic
policymaker said Friday.
"We are showing signs of easing from the economic downturn earlier than other
nations, with our stocks and currency markets stabilizing," Finance Minister Yoon
Jeung-hyun told an international conference held in central Seoul.
"But the recent recovery is driven mainly by aggressive fiscal spending ... There
are few signs that investment is bouncing back and except for the government-led
stimulus measures, job-generating capacity in the private sector remains in a
slump and exports continue to decline," he added.
"Uncertainties" are still lingering at home and abroad, the minster noted, saying
that the government should not loosen up its watch on the economy as a recovery
might not be able to exceed the pre-crisis level of last September.
kokobj@yna.co.kr
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