South Korea says growth sluggish, uncertainties to economy growing

SEOUL: South Korea's production and consumption have remained broadly sluggish, and the economy faces growing uncertainties from the US presidential election and the fallout from Brexit, the finance ministry said on Tuesday.

Exports have fallen at a slower rate in October, while recovery in domestic consumption and production remain weak due to factors such as Samsung Electronic's decision to scrap production of its flagship Note 7 smartphones, the ministry said in its monthly assessment of the economy.

The ministry said it would strengthen monitoring of external risks and make sure policy focus remains on boosting consumption, investment and exports.