Lee vows to stick to expansionary policies

SEOUL, Nov. 2 (Yonhap) -- President Lee Myung-bak said Monday that the South
Korean government will stick to its pro-growth fiscal and monetary policies until
the global economy makes a firm recovery.

In his parliamentary address, Lee said that his government will set the timing
for the beginning of the so-called exit strategy through close coordination with
the advanced countries.
"The international community has been praising Korea's ability to cope with the
crisis, and some of the nation's economic indicators are showing improvement. But
I can't say the crisis is over," Lee said in the speech read by Prime Minister
Chung Un-chan.
"A year ago, we were standing at the entrance of a long tunnel. We're still in
the middle of the tunnel, though its bright exit is visible far away... The
Korean economy still requires more time for a firm recovery in consumption,
investment and employment."
The president then called for concerted national efforts to upgrade Korea's
credit standing and brand competitiveness through its successful hosting of the
Group of 20 summit next year.
"The hosting of G-20 summit will catapult Korea into the center of the
international order and efforts to overcome the economic crisis. Korea's
international status will change from recipient of international order to its
creator. We shouldn't miss out on this opportunity," said Lee.
Turning to inter-Korean relations and domestic politics, the president stressed
his principles of policy consistency and dialogue.
"The government's policy towards North Korea has been consistent. The government
is firm in its determination to form a future-oriented inter-Korean relationship
on the basis of denuclearization of the Korean Peninsula and the co-prosperity
and co-existence principles," said the president.
Lee refrained from making any direct remarks on the thorniest domestic political
issue -- relocation of a dozen government ministries and agencies to the new
administrative town Sejong. Instead, he simply stressed that he will resolve all
policy-related conflicts in phases "through genuine dialogue."
A controversial bid by the Lee administration and some ruling party leaders to
review the previous government's plan to relocate nine ministries and four major
administration bodies to Sejong City in South Chungcheong Province, about 160km
south of Seoul, has angered opposition parties and Chungcheong residents.
Lee also reiterated his determination to revamp the century-old administrative
zoning and election systems.
"It is difficult to expect an upgrade of the nation's international
competitiveness without reforming the outdated provincial administrative zoning
system. We should also strive to eradicate political regionalism through an
overhaul of the election system," he said.
ycm@yna.co.kr
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