The South Korean economy is showing faint signs of recovery as key economic indicators rebound and activity in asset markets is on the rise, said the country’s finance minister on Thursday.
Finance Minister Choi Kyung-hwan said key indicators had bounced back recently, including activity for all industries which rose 2.5 percent on a monthly basis in February which more than recouped a 2.0 percent fall in January.
Retail sales also rose 2.8 percent in February on-month, recovering from a 2.8 percent decline in January, Choi said.
He also pointed out activity in the stock market and in real estate transactions had increased on the back of expansionary macroeconomic policy amid low oil prices, a weakened local currency and low interest rates.
The minister’s comments were made in opening remarks at a meeting to discuss South Korea’s mid- to long-term economic strategy.