‘S Korea’s economy faces expanded downside risks’

19 May, 2019 12:00 AM printer

SEOUL: South Korea's finance ministry said on Friday that its economy faced the expanded downside risks amid the global economic slowdown.

The Ministry of Economy and Finance said in its monthly economic assessment report, called Green Book, that the downside risks facing the economy expanded in the first quarter due to the faster-than-expected global economic slump and the downturn of business cycle in the semiconductor industry, reports Xinhua.

The state-run Korea Development Institute (KDI) said in its monthly report earlier this month that the South Korean economy showed a slowdown on weak investment and export.