SEOUL: South Korean Finance Minister Choi said yesterday that the government will announce a comprehensive exports promotion plan next week. This comes as South Korea looks to strengthen the ailing exports sector which has fallen by 5% y/y in H1 this year. The outlook for Q3 remains challenging given the lack of growth momentum in both exports and the MERS-hit domestic demand.
“We see the government stepping up efforts on the fiscal side given that the room for further monetary easing is limited by the already high household debt levels. USD-KRW gained 0.66% yesterday to close higher at 1125”, states Barclays.
