SEOUL, KOREA – On Wednesday, President-elect Park Geun-hye declared that the new Korean government will turn Korea’s passive economic, industrial paradigms into preemptive ones. And in regard to the yen's continued weakness, she underscored the importance of maintaining stability in foreign exchange rates and promised to mount preemptive responses to shield Korean exporters.
At the Wednesday meeting with Duck-soo Han (Chairman of the Korea International Trade Association (KITA) and other KITA executives, President-elect Park mentioned, “Korea has to make a paradigm shift to weather this economic crisis. In other words, the Korean economy should transition from playing catch-up with advanced economies to leading the pack.”
In response to an attendee’s call for the stabilization of foreign exchange rates, President-elect Park said, “I deeply understand the significance of stable foreign exchange rates. Thus, my administration will take preemptive approaches towards the issue of volatile foreign exchange rates to prevent Korean exporters making losses. With the global economy still in dire straits, Korean exporters have been beset by a weak yen and strong competition from emerging economics led by China.”
Sean Chung (hbpark@etnews.com)
**Article provided by etnews [Korea IT News]
[Reference] : http://english.etnews.com/electronics/2715655_1303.html
