Quick recovery unlikely for S. Korean economy: KDI

[THE INVESTOR] A quick turnaround for South Korean economy is unlikely, a state-run think tank said on Aug. 4.

In its monthly economic report, the Korea Development Institute said that although some domestic indicators are improving, the economy in general does not yet appear to be following a similar trend. 

Hyundai Heavy's shipyard.

The KDI added that the ongoing corporate restructuring measures could hold back the rate of economic recovery in the short term.

In addition, the improvements in service and retail industries seen in June are thought to have been affected by the unusually low figures recorded in June 2015.

The KDI also said that improvements seen in some sectors will be difficult to maintain, with restructuring in the shipbuilding industry set be a short-term burden for the economy.

By Choi He-suk (cheesuk@heraldcorp.com)