Finance Minister Choi Kyung-hwan says that South Korea's economy is getting back on track as domestic consumption started to pick up and production and investment are showing signs of recovery.

In a meeting of senior officials in Sejong City on Monday, the minister said that consumption surpassed levels posted before the Middle East Respiratory Syndrome outbreak in May.

He said that the recent Black Friday sales event helped promote domestic consumption, asking the officials to ensure the event will have greater results next year.

The minister also stressed the need to realize an early effectuation of the South Korea-China free trade agreement as the country is suffering from weak exports amid the global economic slowdown.