‘Full-fledged economic recovery being delayed’

Korea’s economy is rebounding at a slower-than-expected pace amid deepening uncertainties from the eurozone debt problems and possible worldwide slowdowns, the country’s top economic policymaker said Friday.

“It is tough to predict how economic situations will play out in the second half but one thing seems to be certain and that is full-fledged economic recovery is being delayed,” Finance Minister Bahk Jae-wan told a press conference with foreign journalists in central Seoul.

His remarks come a week after the government revised down its 2012 growth outlook for Korea from 3.7 percent to 3.3 percent, citing strong headwinds from the eurozone debt problems and faltering economies in major countries. (Yonhap News)