South Korea lowers economic growth forecast for 2015

Seoul

SOUTH Korea on Monday trimmed its economic growth forecast for 2015 to 3.8 per cent from 4.0 per cent as it vowed to continue expansionary policies aimed at spurring domestic consumption.

The revised projection comes after the country's central bank this month warned that its 3.9 per cent growth forecast would be "difficult" to maintain as domestic demand alternated between positive and negative territories and a weak yen hurt the price competitiveness of South Korean firms against Japanese rivals.