South Korea vows support for exporters as economy shrinks
Dhaka, Jan. 26 -- South Korea's government promised strong support for exporters after the country posted on Thursday its first economic contraction in 2/1-2 years, due mainly to a crash in exports, and faced a possibility it was in recession.
Playing down the economic slowdown as part of a global trend and saying a return to growth in the current quarter "is possible", Finance Minister Choo Kyung-ho pledged prompt support measures for exporters, such as tax breaks and administrative help, reports Reuters.
Central bank estimates showed gross domestic product (GDP) shrank 0.4 per cent in the October-December period from the previous quarter. Economists in a Reuters poll had expected a 0.3 per cent fall.
"The government will focus policy...
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