Can Emergency Mode Save SK from Crises?
Posted by Robi - 11/01/09 at 06:01:20 am
The wave of world economic crises is going to hit South Korea. It is thought that the hit come very soon as South Korea’s President has recently said his government will face emergencies in 2009 over the worldwide economic crisis. A lot of soft economic statistics emerged in the year of 2008 for South Korea, prompting President Lee to recommend he must put the country into ‘emergency mode’ to tackle slowing economic conditions and financial turndown all over the world. In his recent speech Lee promised to apply some countermeasures to lift the economy from the latest go down in exports, which already dropped by more than 15% during December 200.
President Lee said his administration would do more to help and support for all small and medium sized businesses to retain their employees. He added, the government would press ahead with right plans to privatize as well as scale back state-owned enterprises. On the other hand, as a good number of North and South Korea cooperation projects were abandoned in last year, to remove the hurdle Lee said he would be glad and happy to have talks with the North Korean leadership. He said it would be an effort to get an end to the habit of trying to divide the countries.
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