September 8, 2017 / 1:28 AM / in 10 months

South Korea says exports to drive recovery, North Korea a risk to growth

SEOUL (Reuters) - Recovering export performance will drive growth in South Korea’s economy even as tensions with North Korea and trade negotiations with the United States pose risks to growth, the finance ministry said on Friday.

FILE PHOTO: An employee walks on a crane at a container terminal at Incheon port in Incheon, South Korea, May 26, 2016. REUTERS/Kim Hong-Ji/File Photo

“At the current pace of economic recovery, achieving 3 percent growth looks possible,” a finance ministry official told Reuters.

Shipments of semiconductors and petrochemical products supported 10 straight months of growth in exports through August this year, while retail sales increased for a second month in a row, pointing to a solid recovery, the ministry said in its monthly assessment of the economy.

Tensions with North Korea and potentially difficult trade negotiations with the Trump administration, however, added some uncertainty to the outlook.

Reporting by Cynthia Kim and Shin-hyung Lee; Editing by Eric Meijer

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