S Korean president calls for more aggressive investment

16:21, October 28, 2009      

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South Korean President Lee Myung-bakon Wednesday called on private businesses to invest more aggressively, calling job creation as the best 'welfare' for his people.

"Companies must grab the opportunity in such a time of transition, making more aggressive investments" the president said as he chaired the meeting of the Presidential Council on National Competitiveness, according to presidential spokesman Park Sun-kyoo.

President Lee also urged business circle to pay more attention to employment, calling job creation as the greatest 'welfare' it could offer to the society.

With respect to the earlier report of South Korea's upbeat growth rate in the third quarter, the president urged his people to stay cautious.

"Although it is indeed good news, we should still take caution," Lee said, saying the local economy will look very different next year depending on how his people prepare now.

The remarks came after the government reported that the economy marked a seven-year high gross domestic product growth rate, 2.9 percent, in the third quarter.

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