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Posted : 2012-11-12 15:07
Updated : 2012-11-12 15:07

Next president should prioritize economic stimulus: poll

More than a third of Korean companies think that the country's next president should put the top priority of his or her economic policy on revitalizing the flagging economy, a poll showed Monday.

The survey of 500 companies conducted by the Korean Chamber of Commerce and Industry (KCCI) found that 35.6 percent of the respondents said that the next president should make "economic stimulus" a top priority.

Economic stimulus was followed by price stabilization with 27.6 percent, job creation with 19.2 percent and control of household debts with 10.4 percent.

Only 4.8 percent of the respondents said that the new president should prioritize "economic democratization," or reform of the country's family-controlled conglomerates, known as chaebol.

"The findings appear to have stemmed from companies' worries over a prolonged economic downturn due to the poor domestic economic growth rate and sluggish exports," the KCCI said.

Korea's gross domestic product grew 0.2 percent in the July-September period from three months earlier, slowing from a 0.3 percent on-quarter gain tallied in the second quarter, according to an advance estimate by the Bank of Korea (BOK). The third-quarter data marked the slowest growth since a 0.2 percent on-quarter gain in the fourth quarter of 2009.

Exports, which account for about 50 percent of the GDP, grew 1.2 percent on-year in October, the first gain in four months.

The presidential election is slated for Dec. 19, with three major candidates, including Park Geun-hye of the ruling Saenuri Party and Moon Jae-in of the main opposition Democratic United Party, vying for the presidency. (Yonhap)


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