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Korea's economy facing uncertainties despite signs of recovery

South Korea's economy is still facing uncertainties, although it has shown signs of recovery, the nation's financial regulator said Friday.

The South Korean economy expanded 0.9 percent in the first-quarter of this year, growing at the fastest pace since the second-quarter of last year, the Bank of Korea said this week. 

(Yonhap)
(Yonhap)

"There are estimates that show signs of recovery in exports and facility investment," Zhin Woong-seob, governor of the Financial Supervisory Service, said at a meeting of civic advisers for the regulator.

"However, our financial and economic system is facing uncertainties that are hard to grasp the width and height of their repercussions," Zhin said.

The FSS chief cited global trade protectionism, US interest rate hikes and rising tensions in Northeast Asia over the deployment of a US missile defense system in South Korea as uncertainties facing Asia fourth-largest economy. (Yonhap)

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