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In the third quarter of July, August and September, our economic growth rate was only 0.4% QoQ. Considering -0.4% in the first quarter and 1% in the second quarter, 2% growth was virtually difficult this year.

Hwagangyun reporter reports.

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The Bank of Korea says real GDP and GDP grew only 0.4 percent in the third quarter.

Most of the experts suggested 0.5 ~ 0.6%, which is lower.

This is why consumption and investment in the private sector are rarely reviving while the government's money-raising is not driving growth.

[Hong Nam-gi / Deputy Prime Minister: Because of the global financial crisis and the lack of energy in the private sector, there was no private vitality… .]

Due to sluggish 3Q growth, the overall growth rate is likely to remain at 1% this year.

In order for this year's annual growth to be 2 percent, at least 1 percent must grow in the fourth quarter.

Unless private consumption or corporate investment is reviving, this is not an easy goal to achieve.

The government intends to use its financial resources for the rest of this year to prevent the growth rate from falling.

However, there are concerns about whether the Korean economy has already entered the process of stabilizing low growth.

[Oh Jun Bum / Senior Researcher, Hyundai Research Institute: It seems urgent to have a more aggressive deregulation policy or to increase tax benefits for new investments. And maintaining something like an expansionary fiscal policy… ]

As the basic strength of our economy, the potential growth rate, is gradually decreasing, it is time for political and economic leadership to share structural sense of crisis and lead to structural reform and sharing of pain.