S. Korea's retail sales to grow 4 pct in 2010

SEOUL, Jan. 12 (Yonhap) -- Overall retail sales in South Korea this year are
expected to grow 4 percent from a year earlier, amid signs that the nation's
economic recovery is gaining steam, a private survey showed Tuesday.

The survey of 120 experts in the retail industry, conducted by the Korea Chamber
of Commerce and Industry, also found that the growth in overall retail sales this
year would be supported by rising sales in TV home-shopping channels and online
retailers.
Internet retail sales this year are likely to rise 18.3 percent from the year
before, while sales at TV home-shopping channels are expected to grow 16.3
percent, the survey showed.
The business lobby group warned, however, that retail sales may contract in the
second half of this year as the government is widely expected to unwind massive
stimulus packages to prop up the economy.
"Retail sales are likely to shrink in the second half of this year as the
government is expected to cut the size of stimulus packages and raise interest
rates," the group said in a statement.
In a report last month, the Bank of Korea expected the economy to expand 4.6
percent this year, compared with an estimated 0.2 percent growth last year,
thanks to a turnaround in the global economy.
(END)

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