President Lee says S. Korean economy will grow up to 5 pct next year

By Byun Duk-kun
SINGAPORE, Nov. 14 (Yonhap) -- South Korean President Lee Myung-bak said Saturday
his country can achieve 5 percent economic growth next year, higher than forecast
by major international financial institutions, if everything goes as planned.

"Foreign institutions say it will grow between 3.6-3.9 percent, but I believe it
will grow 4 to 5 percent if things go as expected," Lee said in a meeting with
South Korean residents and business representatives in Singapore.
Lee is in Singapore for an annual summit of the Asia-Pacific Economic
Cooperation, also attended by the leaders of 20 other economies in the region.
In its latest economic outlooks released last week, the World Bank raised its
forecast for the South Korean economy to 0.7 percent contraction from its
previous forecast of 3.5 percent contraction.
Lee said the positive change was partly due to the fast improving conditions of
the global economy, but also because of efforts by the South Korean government
and firms.
"I strongly believe our businesses did very well and that they showed great
strength," he said. "Our country will be viewed very highly if we continue to
invest overseas and expand our foreign markets."
Lee will wrap up his three-day visit here Sunday after attending the final
session of the APEC summit.
bdk@yna.co.kr
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