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S KOREAN GROWTH FOR 2004 SET TO SURPASS 5.3PCT.
SEOUL, March 1 Asia Pulse - Kim Choong-soo, president of the Korea Development Institute (KDI), has said that growth figures for 2004 are likely to edge up from the 5.3 per cent figure estimated by the think tank last year.
Speaking to reporters at the international conference to mark President Roh Moo-hyun's first year in office, the top economist said that rapid changes in the external environment pointed to at least a stable or an improved growth figure.
"I cannot say for certain, but I would be surprised if the economy did not grow by 5 per cent," he said.
Kim based the prediction on robust exports and rapid improvement in industrial output. He also said that investment will pick up in the coming months, because judging by the operating capacity of factories and interest rates, companies can no longer afford to delay allocating resources if they want to grow in the future.
The official conceded that domestic consumption is the weak link in the economy at the moment, but predicted that even this cannot stay weak forever.
"I think weak consumer ...
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Source: HighBeam Research, S KOREAN GROWTH FOR 2004 SET TO SURPASS 5.3PCT.