South Korea plans to reinforce economic development

Bakn Jae Wan, South Korea's Finance Minister, has announced that the country will concentrate on reinforcing economic development as well as ensure state funding for small enterprises and exporters to strengthen their presence. The government is attempting to maintain the progress South Korea has experienced during the past year. However, due to the deteriorated situation in China and fears of Greece's exit out of the Eurozone, weakens the demand in exports. Consequently, the Bank of Korea decreased the county's growth estimates to 3.5% from the precedent 3.7%.