Lee says Korean economy still in middle of "a long tunnel"

SEOUL, April 16 (Yonhap) -- President Lee Myung-bak warned Thursday there is still a long way to go before South Korea's economy recovers, saying that it now "stands somewhere in the middle of a long tunnel."

"There are some positive aspects (for the Korean economy). But I believe we still
stand somewhere in the middle of a long tunnel," Lee said while presiding over a
meeting of trading company executives and policymakers.
"It will take time to escape the tunnel. Just before leaving tunnel, the economic
conditions could worsen due to unemployment problems. Despite these difficult
times, I don't lose hope because of the presence of entreprenuers like you," said
the president.
He asked the meeting participants to brace for the worsening global economic
conditions, and said his government will be ready to extend its full support to
Korean exporters.
"We're depending on exports for 70 percent of our GDP growth. Thus, the Korean
economy will be particularly vulnerable to the further downturn of the global
economy. I hope all the entreprenuers in Korea will travel abroad more
aggressively to sell more products," said Lee.