South Korea to keep expansionary policy until results 'tangible'

SEOUL: South Korea's government will maintain its expansionary macroeconomic policy until "tangible" results are seen, Finance Minister Choi Kyung-hwan said at a press conference in Seoul on Tuesday.

"The new economic team will revitalise the sluggish economy by implementing policies in an assertive manner while tackling the structural problems in order for the Korean people to feel confident of economic improvement," Choi said.

He reiterated that Asia's fourth-largest economy would return to a 4 percent growth trajectory in 2015. South Korea grew an annual 3.0 percent in 2013, while the government expects it to post growth of 3.7 percent this year and 4.0 percent in 2015.