S. Korea`s economy may slow to 3.8 pct in 2009, researcher says

SEOUL, Oct. 1 (Yonhap) -- South Korea's economic growth is expected to slow to
3.8 percent next year, following a projected 4.2 percent growth for 2008 as the
world economy is reeling from a slowdown fueled by the impact of the U.S.-sparked
global credit crisis.

The forecast by the Korea Economic Research Institute, an affiliate of the
Federation of Korean Industries, was far lower than the minimum 4.8 percent
economic growth projected by the Ministry of Strategy and Finance for next year.
The FKI is the nation's largest business lobby.
On Tuesday, the ministry said it expected the nation's economic growth to rise to
between 4.8 percent and 5.2 percent in 2009, from an "upper-four percent level"
for this year.
"Next year, the local economy will grow at a pace of the upper-3 percent because
of the impact of the global financial crisis and risks from the global economic
slowdown," KERI said in a report.
Earlier in the day, Vice Finance Minister Bae Kook-hwan told an MBC radio program
that the nation's economy is facing a "very uncertain" situation due to the
global financial market mess.
Bae indicated his ministry may revise its economic growth target next year after
closely monitoring market conditions.