Lee vows to attain 4 percent economic growth in 2009

By Yoo Cheong-mo
SEOUL, Nov. 10 (Yonhap) -- President Lee Myung-bak said Monday that he is determined to attain an annual economic growth of 4 percent next year by orchestrating a concerted nationwide campaign to overcome the global economic crisis.

"The global economy, let alone the economies of the U.S., the European Union and
Japan, is projected to post minus growth next year. But I feel a heavy burden as
the (South) Korean economy is widely forecast to grow over 3 percent next year,"
said Lee during his visit to an industrial park south of Seoul.
"But I'm convinced we can manage to raise the economic growth rate by an
additional 1 percentage point, if political circles cooperate. A growth of an
additional 1 percentage point is very meaningful. In these difficult economic
times, all economic institutions have to be fully united," said the president.
Lee reiterated that he will focus his policy efforts on helping small and
medium-sized businesses, self-employed individuals and low-income people tide
over the ongoing economic hardships.
"It's very important to help low-income workers retain their employment. In this
sense, small and medium-sized companies should be led to perform strongly. A
decade ago, we witnessed about 1.5 million people lose their jobs as a result of
the closure of tens of thousands of small businesses," said the president.
"The government will strive to keep vital credit lines available to small
businesses. But I'm actually concerned about whether local banks will fully
cooperate in this government policy," Lee said.
ycm@yna.co.kr
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