S.Korean president sees 4-5 pct GDP growth in 2010

SINGAPORE, Nov 14 - President Lee Myung-bak said on Saturday South Korea's economy would probably grow 4-5 percent in 2010, but expressed concern about uncertain commodity and energy prices.

"If things go as we expect now, it will probably be 4 percent-5 percent," a media pool report released by the presidential office quoted Lee as telling South Korean business executives based in Singapore.

That is above the median 4.1 percent growth forecast in a Reuters poll published last month and even above the top end of the forecasts <KRGDP1>.

Lee is visiting Singapore to attend the Asia Pacific Economic Cooperation summit. [ID:nAPEC]

"Our economy is 100 percent dependent on imported raw materials," he said without elaborating, apparently referring to the fact that the economy's heavy reliance on imports makes the growth outlook uncertain.

He told a Singaporean newspaper on Friday that Asia's fourth-largest economy would avoid contraction this year, a forecast that was also better than one the median 0.9 percent forecast drop in the same poll.