Deputy Prime Minister and Finance Minister Yoo Il-ho says it is too early to say that the world economy and South Korea’s economy have gotten out of a long-term contraction.
 
Yoo made the remark on Thursday when he chaired a meeting of related ministers in Seoul on boosting industrial competitiveness.
 
He said that uncertain factors continue to remain, including signs of protectionism centered around the U.S. and geopolitical risks on the Korean Peninsula.
 
Yoo said though South Korea’s exports are continuously posting double-digit growth and consumption and investment sentiment are picking up, the government will refrain from becoming complacent and instead focus on policies aimed at spreading the latest recovery track throughout the entire economy.