S.KOREA SEES GNP GROWTH MORE THAN 10 PCT THIS YEAR
South Korea's gross national product (GNP)
will exceed 10 pct real growth this year and the won will rise
further as long as the current account surplus continues to
widen, Deputy Prime Minister Chun In-Yong told reporters.
    Chung, who is also Minister of Economic Planning, said his
GNP estimate was based on the assumption that the economy will
remain stable.
    The official target for 1987 GNP growth is eight pct.
    GNP rose 15.6 pct between the first quarters of 1987 and
1986, according to provisional Bank of Korea figures.
    GNP rose 12.5 pct in calendar 1986.
    In the first four months of this year, the current account
swung to a surplus of 2.5 billion dlrs from a deficit of 294
mln dlrs in the same 1986 period.
    "What the Minister said does not imply any major economic
policy change," a Ministry spokesman told Reuters. "But he tried
to urge business circles to prepare for the forseeable economic
(future) ... A high won era."
    South Korean manufacturers, who have insisted the won
should not rise more than seven pct this year, have said they
plan to ask the government to slow down its appreciation
against the dollar.
    The Bank of Korea today quoted the won unchanged at 812.05
against the dollar, a 6.02 pct gain so far this year compared
with a 3.34 pct increase for the whole of 1986.
    The won strengthened by 6.60 won to the dollar in three
days earlier this month while an International Monetary Fund
team held talks here to discuss revaluation.
 REUTER
