President Lee says world economy still faces many uncertainties

By Byun Duk-kun
SEOUL, Dec. 10 (Yonhap) -- President Lee Myung-bak urged continued efforts to
fight economic difficulties Thursday, saying the country's economy is showing
definate signs of improvement but that globally numerous uncertainties remain.
The Organization for Economic Cooperation and Development has twice raised its
outlook for the Korean economy this year from a negative 4.5 percent to a
positive 0.1 percent growth, noting it made "one of the earliest and strongest
recoveries" in the world. The organization also forecast the South Korean economy
will grow 4.4 percent next year.
President Lee, however, has repeatedly warned against imprudence, noting the
country, over 70 percent of whose output depends on exports, cannot be free of
the difficulties continuing to plague the rest of the world.
"There is a growing view that (economic) prospects for next year are somewhat
positive, but I believe there are still too many uncertainties in the global
economy," the president said at the start of a special seminar, attended by
government and private experts to set and review objectives for the country's
economy next year.
"In that regard, I believe we must not be complacent, at least until the end of
the first half of next year, and preemptively implement budget spending that will
help stimulate the economy," he added.
Seoul's measures to help stimulate its own economy will include swift
implementation of major government projects, such as a 22-trillion won (US$18.9
billion) project to restore the country's four major rivers, that are expected to
create tens of thousands of jobs.
To that end, the president will receive reports from all government ministries
and agencies on their projects for 2010 before the end of the year to allow
prompt implementation of their plans and budget from the very start of the year.
bdk@yna.co.kr
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