October 13, 2016 / 6:31 AM / a year ago

S.Korea c.bank: We don't see Samsung Galaxy Note 7 issue hitting GDP growth

SEOUL, Oct 13 (Reuters) - The Bank of Korea said on Thursday that Samsung Electronic Co Ltd’s decision to scrap its latest Galaxy Note 7 smartphone will not affect GDP growth this year, although there are risks.

“From what we know Samsung produces 400 million phones a year and South Korea produces less than 30 million of them,” said Chang Min, an official at the Bank of Korea.

“We can’t say the economy won’t be affected because the Note 7 is a premium phone, and some parts than others could have been produced at home. But we don’t think this will bring down GDP growth.” (Reporting by Christine Kim; Editing by Richard Borsuk)

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