October 31, 2017 / 6:35 AM / a year ago

South Korea chief policy adviser: Economic growth to top 3 percent this year and next

FILE PHOTO - An apartment complex is seen in Seoul March 4, 2015. REUTERS/Kim Hong-Ji/File Photo

SEOUL (Reuters) - South Korea’s chief policy adviser on Tuesday said he sees the economy growing more than 3 percent this year and again in 2018.

“Economic growth is likely to exceed 3 percent this year, and I see this to be maintained next year,” Jang Ha-sung, chief of staff to President Moon Jae-in told reporters in Seoul.

South Korea’s economy clocked its fastest growth in seven years last quarter, as global demand for its electronics more than offset the impact of regional geopolitical strains on trade.

Jang added the government will announce measures to encourage corporate innovation and start-ups within November, while also focusing on rooting out corrupt business practices.

Reporting by Christine Kim; Writing by Cynthia Kim; Editing by Richard Borsuk

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