Commerce, Industry and Energy Minister Chung Sye-kyun says the nation’s economy is expected to see slow growth in the second half of the year.

In a lecture before top officials of the Korea Management Association Friday, Chung said the economy is forecast to slow down in the latter half due to rising global oil prices and a drop in foreign exchange rates.

Chung also cited that leading economic indicators had witnessed a continuous decline for the past five straight months.

He also expressed concern that the nation’s exports could take major blows if the world economy recedes in the wake of slow U.S. economic growth.

[Photo : ]