ID :
203379
Thu, 08/25/2011 - 06:45
Auther :
Shortlink :
https://oananews.org//node/203379
The shortlink copeid
S. Korea to cooperate with Japan in economy rebuilding: minister
SEOUL, Aug. 25 (Yonhap) -- South Korea will cooperate with Japan in its efforts to rebuild its economy hit by the March earthquake and the recent credit ratings downgrade, the nation's top economic policymaker said Thursday.
"We hope that the Japanese economy will recover from the shocks of the earthquake as quickly as possible," Finance Minister Bahk Jae-wan told an economic policy coordination meeting. "We will cooperate with Japan to get its economy back on track."
Japan was hard hit by the 9.0-magnitude earthquake and resulting tsunami on March 11 that left at least 15,500 people dead and devastated many of its industrial and manufacturing facilities.
Japan's economic woes deepened after Moodys' Investors Service, a major credit appraiser, downgraded the sovereign rating of its sovereign debts on Wednesday, citing its massive deficit and debts.
Bahk's remarks came a day before the finance ministry will hold an annual economic policy meeting here with Japanese officials to expand policy exchanges and deepen mutual understanding.
Meanwhile, the minister noted that the current fiscal crisis is in part attributed to distrust of government policies, calling for more efforts to be made in uniting society, generating growth engines and strengthening fiscal soundness.
He added that the government will step up efforts to boost the domestic software industry and bolster the overall entrepreneurship, citing worries over the fast-changing global business environment where tech companies are pushing for consolidation.
kokobj@yna.co.kr
(END)
"We hope that the Japanese economy will recover from the shocks of the earthquake as quickly as possible," Finance Minister Bahk Jae-wan told an economic policy coordination meeting. "We will cooperate with Japan to get its economy back on track."
Japan was hard hit by the 9.0-magnitude earthquake and resulting tsunami on March 11 that left at least 15,500 people dead and devastated many of its industrial and manufacturing facilities.
Japan's economic woes deepened after Moodys' Investors Service, a major credit appraiser, downgraded the sovereign rating of its sovereign debts on Wednesday, citing its massive deficit and debts.
Bahk's remarks came a day before the finance ministry will hold an annual economic policy meeting here with Japanese officials to expand policy exchanges and deepen mutual understanding.
Meanwhile, the minister noted that the current fiscal crisis is in part attributed to distrust of government policies, calling for more efforts to be made in uniting society, generating growth engines and strengthening fiscal soundness.
He added that the government will step up efforts to boost the domestic software industry and bolster the overall entrepreneurship, citing worries over the fast-changing global business environment where tech companies are pushing for consolidation.
kokobj@yna.co.kr
(END)
