S. Korean president says economic crisis won't last long

SYDNEY, March 4 (Yonhap) -- South Korean President Lee Myung-bak said Wednesday the economic hardship facing his country will not last long, as efforts by the entire nation will help it overcome the current difficulties just as it emerged from the Asian financial crisis a decade ago.

"The country is working to create more jobs. Businesses are saying, 'Let's not
cut employment, even if we have to cut wages,' and labor unions are saying the
same," Lee said in a meeting with South Korean residents of Sydney, the most
populous city of Australia.
The South Korean president arrived here earlier Wednesday as part of his
three-nation trip that included an earlier stop in New Zealand and will also take
him to Indonesia later this week.
He is set to meet Australian Prime Minister Kevin Rudd in the Australian capital
of Canberra Thursday. The two leaders are expected to sign a new security pact
and announce the start of talks to seal a free trade agreement.
Lee's remarks came one day after meeting with South Korean residents of New
Zealand, where he said South Korea will be the world's first country to emerge
from the global economic downturn.
Lee repeated his conviction Wednesday, saying no other country in the world has a
management-labor relationship in which the two groups voluntarily work together,
especially in times of crisis.
"The unique tradition of joining forces in times of crisis -- such cooperation
between labor and management cannot be found in the history of mankind," Lee
said.
"Korea is a nation that can move up to the next stage when times are difficult.
Every other country in the world agrees with this," he said.
bdk@yna.co.kr
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