[THE INVESTOR] The South Korean economy has hardly shown clear signs of recovery in recent months, as a slight upturn in exports was counterbalanced by slowing private consumption, a government report said on Sept. 9.

“Recently, the economy is experiencing a slowdown in domestic demand due to the expiration of a tax-cut program, with exports posting a rebound on one-off factors,” the Finance Ministry said in its monthly economy assessment report called the “Green Book.”

The report is based on the latest economic indicators of such key factors as output, exports, consumption and corporate investment that could provide clues as to how the economy has been faring in recent months.

“The South Korean economy is facing downside risks at home and abroad including global financial uncertainties stemming from a possible US rate hike, and impact of the on-going corporate restructuring,” said the ministry.

“The government will take aggressive fiscal action to cushion any fallout from the heightened uncertainties.”

(theinvestor@heraldcorp.com)