Deputy Prime Minister and Finance Minister Yoo Il-ho has said that sluggish exports do have a chance to rebound and the government's economic growth target of three-point-one percent can be achieved this year.
 
Appearing in the KBS TV program "Live Late Night Forum," the minister said that domestic demand somewhat revived in last year's third and fourth quarters.
 
He said that if exports and domestic demand move as expected, the South Korean economy can grow three-point-one percent this year.
 
Regarding lackluster exports, Yoo blamed external factors and decreased competitiveness in key domestic sectors.
 
He said that export figures were worse than expected in January but there will be opportunities to rebound.
 
The government expects exports, which fell nearly eight percent last year, to rise over two percent this year.
 
But concern is growing as shipments in January posted the steepest fall in six and a half years and were down more than 18 percent from the same month last year.