S. Korean economy to grow at low 4-pct range: minister

SEOUL, Oct. 1 (Yonhap) -- South Korea's economy is expected to grow in the low 4-percent range this year amid growing concerns over financial instability and a global economic slowdown, Finance Minister Kang Man-soo said Wednesday.

The latest forecast is lower than the government's earlier growth projection of
4.7 percent and far below President Lee Myung-bak's campaign pledge to achieve a
7 percent expansion.
Kang told a local Internet media source that the South Korean economy is likely
to turn around from the second half of next year along with the recovery of the
global economy, and that the recent sweeping tax cuts and other deregulative
measures will also play a part in the process.
However, he cautioned against high optimism, saying that nobody knows when the
current global financial instability will come to an end, and that recovery could
be further off than his projection.