S. Korea to keep expansionary policy for stronger growth: finance minister

SEOUL, Dec. 10 (Yonhap) -- Despite improving economic conditions, South Korea
will maintain its expansionary macroeconomic policy "for the time being" to
ensure strong growth momentum as it is still facing many uncertainties, the
nation's top economic policymaker said Thursday.

"Next year will be a critical turning point that will determine the future of our
economy," Finance Minister Yoon Jeung-hyun told a press conference where he and
other ministers jointly unveiled the government's 2010 economic management plan.
They projected that the economy will rebound 5 percent next year after expanding
0.2 percent this year.
"We drew up the management plan for next year taking into account that
uncertainty remains high. We will keep our expansionary macroeconomic policy
stance for the time being to solidify economic growth momentum," he added.
Though the economy is likely to grow faster than most major economies next year,
the minister said the "global crisis is not over," as shown by recent debt
problems in Dubai, suggesting the South Korean economy could again be impacted by
unexpected external shocks.
Explaining the government's economic direction, the minister put priority on
improving the nation's labor market, saying that job creation is the best welfare
policy for people. Stressing this point, Yoon called for companies to increase
recruitment and investment.
kokobj@yna.co.kr
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