SOUTH KOREA LOWERS 2013 GROWTH FORECAST, ANNOUNCES STIMULUS

SEOUL – South Korea’s Ministry of Strategy and Finance has lowered its growth forecast for 2013 to 2.3%, from 3.0% previously as the new Government of President Park Guen-hye announces a stimulus package to counteract weak growth. Estimates of the size of the package are around 1% of GDP, with expectations it will focus on job growth and stimulation of the property market. www.bbva.com (ATI).