Finance Minister Kim Dong-yeon says the South Korean economy is unlikely to meet the government's growth target of two-point-nine percent this year.  

In July, the government lowered its economic growth outlook for this year by zero-point-one percentage point from the initial three percent. 

At a parliamentary audit of the Finance Ministry Thursday, Kim said that the government will decide in December whether to ease more regulations to induce investment by private corporations. 

He predicted that corporate investments will likely amount to over four trillion won if the government's plans go as intended, but declined to elaborate on details. 

As part of its efforts to boost innovative growth and create jobs, the government announced Wednesday that it will lift regulations and offer benefits to help private corporations carry out business projects swiftly and encourage them to increase investment. 

The measures include paving the way for additional plant construction and industrial development in Yeosu in South Jeolla Province and Pohang in North Gyeongsang Province.