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Official claims South Korea economy to meet 2016 forecast despite Samsung Note 7 sales

South Korea's deputy finance minister told a news briefing on Monday that Samsung Electronics' troubles could have a negative impact on the country's growth.

By: Reuters | Seoul |
October 17, 2016 11:30:59 am

South Korea’s economic growth is still expected to meet the government’s expecations this year, although recent strikes at Hyundai Motor Co and the discontinuation of Samsung Electronics Co Ltd’s Note 7 sales pose downside risks, the deputy finance minister said on Monday.

Lee Chan-woo told a news briefing on Monday that Samsung Electronics’ troubles could have a negative impact on the country’s growth, particularly in the third and fourth quarters.

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