 |
|
Kim Sang-jo, chief presidential secretary for policy
|
Kim Sang-jo talks about restoring dynamism to the S. Korean economy
Kim Sang-jo, chief presidential secretary for policy, said on the evening of Oct. 7 that Japan’s regulations and removal of South Korea from its white list of countries that enjoy expedited export screening haven’t caused any direct harm to the South Korean economy. “There are no examples of companies reporting direct harm,” Kim said during an appearance on a CBS radio show called “This Is Chun Gwang-yong, Your Host for Current Events.” Kim added that South Korea and Japan are “looking for a diplomatic solution behind the scenes,” while predicting that either the Japanese emperor’s enthronement ceremony on Oct. 22 or the termination date of the two countries’ GSOMIA intelligence-sharing agreement on Nov. 22 could be a turning point. “The South Korean government is working toward a quick solution, but in the unexpected event that no solution is found, the conflict could conceivably become protracted,” the secretary added. In regard to government action about the frothy real estate market, Kim stressed the need for region-specific regulations. “To be candid, there are indications that the real estate market is overheating in the greater Seoul region, and in parts of Gangnam in particular. In contrast, the provinces are in a serious slump. That’s why we need regulations tailored to according to region,” Kim said. “If signs of instability in the Seoul real estate market continue, we’ll cap new apartment prices in specific neighborhoods.” Kim also said that a plan for improving the primary and secondary educational systems and the university admission system would be announced within the month. In addition, Kim said that the Korean economy is losing its dynamism. “Over the past 20 years, only 24 of the firms that have joined the top 500, or less than 5%, are homegrown firms that aren’t in the finance sector and aren’t affiliated with a chaebol.” “The young generation are angry at a society where they aren’t even given a chance to try. I think that restoring that dynamism is the only thing the government can do to give the young generation hope for the future,” he said. By Seong Yeon-cheol, staff reporter Please direct comments or questions to [english@hani.co.kr]
