President Roh Moo-hyun said on Monday that his government will concentrate its policy resources on alleviating economic difficulties by removing factors of instability in the real estate, financial, foreign exchange and educational sectors.
In his New Year's message, the president said, "The nation is struggling with growing unemployment, surging property prices, rising education expenses and an aging society. But the outlook is bright and the government will redouble its efforts to cope with such problems in 2007."
"The government will further reinforce its policy measures to tame real estate speculation and rising property prices, while problems in the job market and education sectors will be gradually resolved."
Roh then stressed that his government will more actively cope with the impact from the Korean won's rise against the U.S. dollar and thoroughly manage the financial market to stave off the recurrence of a financial crisis. Economic experts at home and abroad have warned that the recent surge in consumer debt, mostly housing loans drawn to buy or speculate on apartments, could trigger the outbreak of a fresh financial crisis.
"The government will make sure that the financial and credit crises seen in 1997 and 2002 will never occur again in South Korea," said the president.
"In addition, the government will push ahead with technological innovations, fostering new manpower, exploiting overseas markets, and pursuing balanced regional development and new government innovations."
Looking back on 2006, the president noted that the nation's exports topped the US$300 billion mark and its per-capita income neared $20,000. Roh also said confidently that the level of South Korea's democracy has been externally rated as among Asia's best, though ordinary citizens still seem dissatisfied with domestic politics.
Seoul, Jan. 1 (Yonhap News)
President Roh vows to ease economic difficulties in 2007 |
