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South Korea's finance minister says anti-graft law may weigh on growth

Thursday, September 29, 2016 - 15:03

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South Korea's finance minister said on Thursday the introduction of an anti-corruption law may temporarily curb growth, but added the economy could still expand by 2.8 per cent this year.

[SEOUL] South Korea's finance minister said on Thursday the introduction of an anti-corruption law may temporarily curb growth, but added the economy could still expand by 2.8 per cent this year.

Speaking to reporters, Yoo Il Ho said the anti-graft legislation that came into force from Wednesday is a factor he will need to monitor in reviewing third-quarter growth.

The law bans public officials, school teachers and journalists from accepting bribes and meals worth more than 30,000 won (S$37.21).

REUTERS

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