President says still too early for exit plan

By Byun Duk-kun
SEOUL, Aug. 26 (Yonhap) -- South Korean President Lee Myung-bak on Wednesday said
the world economy appears to be recovering but it is too early for countries to
consider halting their stimulus measures.

"It appears to be true that the world economy is now in a very nascent recovery
stage," the president said in a meeting of the Presidential Council on National
Competitiveness.
But he said the government was cautious about such an optimistic outlook.
"I believe it is still too soon to be discussing exit plans. I believe the issue
will be discussed at the G-20 Economic Summit in Pittsburgh late next month," he
said.
Such discussions can wait until early next year, Lee added, noting most of other
major countries agree the ongoing economic stimulus measures must continue at
least until the first half of next year.
"I do believe our (Korea's) economy is showing initial signs of a recovery. But a
patient under intensive care requires more cautious and thorough treatment," the
president said.
Private businesses needed to take more aggressive and bolder actions, he added.
"And only through such measures by the private business sector can we create a
chance for the Korean economy to leap forward after the recovery phase is over,"
he said.
bdk@yna.co.kr
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