Investors told SK economy is strong
Source: Agencies |
October 4, 2011, Tuesday
|
Print Edition
Print Edition
SOUTH Korean President Lee Myung-bak used a national day radio address yesterday to bolster faith in the country's economy amid a global economic slowdown and sluggish factory output at home.
On Friday, South Korea reported that factory output in August fell more than expected and set its first back-to-back loss since the 2008 global crisis, sending the won down against the dollar and closing the worst month for the currency in more than two and a half years.
Seeking to reassure investors, Lee used the radio address on National Foundation Day, as a pep talk to dispel pessimism on the economy.
"We have surmounted the previous global financial crisis in the fastest and most successful fashion in the world," Lee said, referring to the 2008-2009 global financial crisis.
"I can assure you that the Korean economy is strong enough for our people to have confidence."
On Friday, South Korea reported that factory output in August fell more than expected and set its first back-to-back loss since the 2008 global crisis, sending the won down against the dollar and closing the worst month for the currency in more than two and a half years.
Seeking to reassure investors, Lee used the radio address on National Foundation Day, as a pep talk to dispel pessimism on the economy.
"We have surmounted the previous global financial crisis in the fastest and most successful fashion in the world," Lee said, referring to the 2008-2009 global financial crisis.
"I can assure you that the Korean economy is strong enough for our people to have confidence."
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