S. Korean economy could grow 6%: BoK

S. Korean economy could grow 6%: BoK

SEOUL: The South Korean economy could grow 6 percent this year
despite worries about high oil prices and a slow rebound in
domestic consumption, the Bank of Korea said on Thursday.

"The Korean economy isn't too bad. There are problems, but it
has the ability to absorb them," central bank governor Park Seung
said after his bank left its main interest rate unchanged at a
record low of 3.75 percent.

The Bank of Korea's main rate has been at 3.75 percent for 11
straight months. Low interest rates can help bolster an economy
by making it cheaper for businesses to borrow money for
expansion.

Park said there were still concerns about high oil prices and
weak consumer demand in the world's 12th largest economy. But on
the back of strong exports, he said it could grow by 6 percent
this year. -- AP