SEOUL, Oct. 26 (Xinhua) -- South Korea's finance minister on Monday predicted the Korean economy may post positive annual growth this year based on the upbeat economic data released by the central bank.

    "The third-quarter growth is a 'surprise'," Finance Minister Yoon Jeung-hyun told a forum held in central Seoul, referring to the Bank of Korea (BOK)'s earlier report that the country's gross domestic product (GDP) expanded 2.9 percent during the third quarter from three months earlier.

    "Things are catching up fast so that it is well enough to predict positive annual growth for this year," he added.

    The BOK's earlier GDP figure for the third quarter marks a seven-year high, adding to optimistic views on the local economy from in and out of the country.

    Meanwhile, Minister Yoon reiterated his earlier remarks, saying that the government will maintain its current expansionary policy, as well as soft monetary stance.

    He also said it is still "too early" to kick off the so-called exit strategy as the private sector is still in need of state help and asset price hikes are slowing down.

    According to the latest prediction by the government, South Korea's economy is expected to contract 1.5 percent this year, the first minus growth since the 1997-98 financial crisis.

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