South Korea's finance ministry said on Monday it was maintaining its 2008
economic growth target of around 6 percent, due to deregulation and tax cuts,
despite a slowing global economy.
Economic growth in 2007 was 4.9 percent.
Asia's fourth-largest economy is expected to be capable of 7-percent growth
and have a stable current account and prices in five years, the Ministry of
Strategy and Finance said in a report to the new president, Lee Myung-bak.
"The new government will endeavor to achieve a growth target of some 6
percent, continuing efforts for economic recovery and managing risk factors,"
said the ministry.
