South Korea’s finance minister raises possibility of slower growth

AP

SEOUL — South Korea’s newly named finance minister said Wednesday the recovery in Asia’s fourth-largest economy is weak and might need additional government stimulus.

Hyun Oh-seok told parliament that South Korea’s economy may not achieve the 3 percent growth projected by the government and he would quickly introduce measures to aid the recovery.

His remarks gave more weight to the view that President Park Geun-hye’s new economic team will boost government spending with a supplementary budget.