ID :
28128
Mon, 11/03/2008 - 14:31
Auther :
Shortlink :
https://www.oananews.org//node/28128
The shortlink copeid
Lee urges nationwide support for small businesses
By Yoo Cheong-mo
SEOUL, Nov. 3 (Yonhap) -- President Lee Myung-bak on Monday vowed to keep competitive small and medium-sized businesses afloat through various fiscal support measures, as part of his government's drive to prevent the global credit crunch from spilling over into the real economy.
In his biweekly radio address that aired on KBS Radio for about eight minutes,
starting at 7:50 a.m., Lee also urged domestic business conglomerates to support
financially strapped small businesses and called for concerted efforts to boost
public confidence in economic recovery.
"Small and medium-sized businesses and self-employed individuals represent 99
percent of all businesses in the nation and account for 88 percent of entire
employment. Thus, the deteriorating business sentiment is largely attributed to
the difficulties faced by small businesses," said Lee.
"I'm convined that the rescue of small businesses is the shortest cut to
increasing employment and revitalizing domestic consumption. In this sense, large
conglomerates should have a greater understanding of the difficulties of small
businesses. Co-existence of small and large companies will help improve overall
economic competitiveness."
The president vowed that the government will further reduce taxes for small
businesses and self-employed individuals and help them receive greater benefits
from increased fiscal expenditure.
"The government will greatly expand its credit guarantee ceiling for small and
medium-sized exporters. I myself will conduct a thorough oversight to make sure
that all policies designed for small businesses are thoroughly enforced."
Lee declared his strong willingness to stanch a slump in the real economy, as the
nation has managed to tide over its foreign exchange liquidity crisis thanks to a
recent US$30 billion currency swap deal with the U.S.
"Under the currency swap deal with the U.S., we can use the U.S. dollars whenever
necessary, virtually terminating concern about the nation's possible foreign
currency liquidity problem," said Lee.
"The U.S., Europe, Japan and other advanced countries are bracing for zero
percent growth next year. We have to further boost our domestic demand, if we
want to attain 4 percent growth... That's why all countries worldwide are cutting
interest rates, providing sufficient liquidity, expanding fiscal spending and
cutting taxes."
Lee gave his first U.S.-style radio address on Oct. 13, vowing to focus his
policy efforts on increasing new jobs and overcoming the financial market crisis.
He plans to give his third radio address on Nov. 17.
With the opposition parties accusing the president of attempting to impose his
opinions on the public in one-way communication mode, the presidential office
Cheong Wa Dae said that radio listeners and netizens are allowed to freely post
their reviews on the website of Cheong Wa Dae.
SEOUL, Nov. 3 (Yonhap) -- President Lee Myung-bak on Monday vowed to keep competitive small and medium-sized businesses afloat through various fiscal support measures, as part of his government's drive to prevent the global credit crunch from spilling over into the real economy.
In his biweekly radio address that aired on KBS Radio for about eight minutes,
starting at 7:50 a.m., Lee also urged domestic business conglomerates to support
financially strapped small businesses and called for concerted efforts to boost
public confidence in economic recovery.
"Small and medium-sized businesses and self-employed individuals represent 99
percent of all businesses in the nation and account for 88 percent of entire
employment. Thus, the deteriorating business sentiment is largely attributed to
the difficulties faced by small businesses," said Lee.
"I'm convined that the rescue of small businesses is the shortest cut to
increasing employment and revitalizing domestic consumption. In this sense, large
conglomerates should have a greater understanding of the difficulties of small
businesses. Co-existence of small and large companies will help improve overall
economic competitiveness."
The president vowed that the government will further reduce taxes for small
businesses and self-employed individuals and help them receive greater benefits
from increased fiscal expenditure.
"The government will greatly expand its credit guarantee ceiling for small and
medium-sized exporters. I myself will conduct a thorough oversight to make sure
that all policies designed for small businesses are thoroughly enforced."
Lee declared his strong willingness to stanch a slump in the real economy, as the
nation has managed to tide over its foreign exchange liquidity crisis thanks to a
recent US$30 billion currency swap deal with the U.S.
"Under the currency swap deal with the U.S., we can use the U.S. dollars whenever
necessary, virtually terminating concern about the nation's possible foreign
currency liquidity problem," said Lee.
"The U.S., Europe, Japan and other advanced countries are bracing for zero
percent growth next year. We have to further boost our domestic demand, if we
want to attain 4 percent growth... That's why all countries worldwide are cutting
interest rates, providing sufficient liquidity, expanding fiscal spending and
cutting taxes."
Lee gave his first U.S.-style radio address on Oct. 13, vowing to focus his
policy efforts on increasing new jobs and overcoming the financial market crisis.
He plans to give his third radio address on Nov. 17.
With the opposition parties accusing the president of attempting to impose his
opinions on the public in one-way communication mode, the presidential office
Cheong Wa Dae said that radio listeners and netizens are allowed to freely post
their reviews on the website of Cheong Wa Dae.
