[Industry professional news channel itsTV] S. Korean economy to grow 3.7% in 2012

On Dec. 12, government officials announced economic policies for 2012 in a joint briefing of the finance ministry, commerce ministry, health ministry, labor ministry and the land ministry held at a government complex. Knowledge Economy Minister Hong Suk-woo, Labor Minister Lee Chae-pil, Health Minister Lim Chae-min, Land Minister Kwon Do-yub and Finance Minister Park Jae-wan attended the briefing. The government said that it has cut the 2012 national growth forecast to 3.7 percent, from 4.5 percent, reflecting the challenging economic situations at home and abroad. It forecast that 280000 new jobs will be created next year, less than 400000 this year. The annual employment rate is expected to stand at 59.1 percent, a slight improvement from this year's 59 percent, and the unemployment rate will remain similar to this year at 3.5 percent. Industry professional news channel itsTV www.itstv.net

View Count: 0 Date: December 26, 2011

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