Cheong Wa Dae extends operation of emergency economic committee

SEOUL, July 17 (Yonhap) -- The presidential office, Cheong Wa Dae, decided to
extend the operation of its emergency economic committee until the end of the
year to avoid misperception that the country has emerged from the economic
crisis, an official said Friday.

The economic committee, set up in January, was initially set to disband at the
end of this month.
"President Lee Myung-bak recently ordered the continued operation of the
committee, saying its disbandment may send the wrong message that the economic
crisis is over," the Cheong Wa Dae official said, asking not to be identified.
Although the president has cited signs of recovery, he has also said the country
must continue to keep its guard up because recovery will largely depend on the
global economy coming out of recession.
"Our economy in many ways can improve only if the world economy improves," Lee
said earlier this month, noting over 70 percent of the country's GDP depends on
trade.
The special presidential committee has met once every week since its
establishment, but the Cheong Wa Dae official said the frequency of the meeting
may be reduced in the future, as most urgent or initial issues were addressed
during the previous seven months of operation.
bdk@yna.co.kr
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