S Korean economy could shrink in 2009
28-12-2008
S Korea's President Lee Myung-Bak says his country's economy could shrink in the first half of next year, for the first time since the 1997 Asian financial crisis. He said that for the whole of 2009, they might achieve positive economic growth, but might also suffer an economic contraction in the first and second quarters. Mr Lee's remarks come after the government cut its 2009 economic growth forecast by one percentage point, to three percent, citing the deepening global economic crisis.
