South Korea's plan to stimulate its weak economy via government spending and policy measures depends on how China's economy performs this year, the finance minister of Asia's fourth largest economy said.
"If China doesn't achieve 8 percent growth this year then that will affect Korea and the rest of the world. The Korean economy is quite resilient, but should Chinese growth far underperform expectations then I'm sure the government could adopt additional fiscal budget and other policies," South Korea's Bahk Jae-wan told CNBC in an interview.
South Korea's economy has been hurt by weak overseas demand. Economic growth in China, the largest destination for South Korean exports, weakened last year, while the debt crisis in the euro zone weighed on the global economy generally.
The country's central bank on Friday cut its 2013 growth forecast to 2.8 percent from a previous estimate of 3.2 percent, its third downgrade in a year, reinforcing expectations for another interest rate cut in South Korea in the months ahead.