Finance minister warns Korean economy could resemble Japan's lost 20 yearsUpdated: 2014-07-23 15:52:38 KST
We begin with a strong warning out of the finance ministry
Should the Korean economy stay the course, it could face a situation similar to Japan's 20 years of lost growth.
And, that's according to Finance Minister Choi Kyung-hwan earlier this Wednesday morning stressing the need for bold and aggressive monetary policy.
In the first meeting between the government and the ruling party since his appointment earlier this month, Choi raised concerns about the combination of this economy's slowed growth, mounting household debt and aging population.
He pledged to introduce measures to address these challenges, and called for parliamentary support in approving a series of economy-related bills stuck in the National Assembly.
The ruling party floor leader vowed to work towards that goal.
The government is expected to lay out its economic policy direction for the latter half of this year sometime this week.
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