[THE INVESTOR] The Korean economy is showing clear signs of recovery on brisk exports and improved consumption and investment, but still faces some uncertainties at home and abroad, the finance minister said on April 27.

“The economy has positive signs as double-digit export growth continues and consumer and investor sentiment improves. The economy grew at a better-than-expected pace of 0.9 percent in the first quarter, lending support to the recent upgrades of 2017 forecasts by local and international institutions,” Finance Minister Yoo Il-ho said in a ministerial meeting in Seoul.

However, the top economic policymaker remained cautious about whether the Korean economy has fully bottomed out from its years-long slump.

“There are lingering uncertainties such as US-led protectionist movements and geopolitical risks on the Korean Peninsula. It is too early to say that the world and the Korean economy has got out of a long-term slump and entered an upside cycle,” said Yoo.

By Alex Lee and newswires (alexlee@heraldcorp.com)