S Korea not to seek exit strategy yet: president

11:22, December 30, 2009      

Email | Print | Subscribe | Comments | Forum 

South Korean President Lee Myung-bakon Wednesday indicated it is still early for the country's economy to seek exit strategy.

South Korea will remain in what Lee calls an "emergency economic rescue mode" during the first half of next year, the president told a meeting held in the presidential office Cheong WaDae, according to local media.

"How to cope with the economy early next year is the most important thing. (Other countries such as) the United States, European countries, Japan and China will all remain in an emergency rescue mode," Lee was quoted as saying by Yonhap.

But Lee pledged more economic growth and job creation in 2010 at the meeting, an indication that the leader of Asia's fourth biggest economy remains positive about the nascent economic recovery.

The president also promised quick and efficient budget execution for next year as proper budget spending will boost consumption and investment in the private sector, local media said, while his disputed budget request has failed to get parliamentary approval as standoff continues over the spending plan among ruling and opposition lawmakers.

Lee last week hinted at a possible formation of provisional budget amid parliamentary gridlock, asking government officials to be fully prepared for possible execution of emergency budget in case the budget request fails to pass parliament by the end of the year.

Source: Xinhua
  • Do you have anything to say?


Special Coverage
  • Making a New Year Wish
  • Satisfaction Survey on Readers
Major headlines
Editor's Pick
  • Top Chinese leaders watch Peking Opera in New Year gala
  • Delicate gold jewellry displayed in E China
  • Goodbye 2009, Welcome 2010
  • Pin your New Year's wish on the wall!
  • World's pending questions in 2010
  • Argentineans rally to wish for world peace
Most Popular
Hot Forum Dicussion