By Na Jeong-ju
President Lee Myung-bak said Thursday North Korea’s recent attacks on South Korea had little impact on the economy mainly because of the calm reaction by foreign investors.
He also expressed confidence that the country will achieve its goal of 5-percent economic growth next year, saying its improved overseas image and reputation through a successful hosting of the G20 summit last November will help attract more foreign investment.
“Despite the security crisis, heightened by Pyongyang’s provocative acts, there was little confusion in South Korean society. Foreign people also kept their composure,” Lee said during a meeting with ministers and vice ministers at Cheong Wa Dae.
“As a result, the attacks had little impact on our financial markets and the overall economy. Rather, we’ve seen a steady increase of foreign investment this year.”
Lee has received year-end briefings from ministries and major government agencies on next year’s key policies for the past two weeks.
He plans to deliver a nationally televised address on Monday to outline the government’s policy goals and call for a stronger sense of national security, presidential aides said.
“The address will focus on Korea’s international status, North Korea and his ideas and opinions on domestic issues,” a source said.
According to Lee Dong-woo, an advisor to the President for policy planning, the government’s policy goals for next year include achieving 5-percent economic growth while keeping inflation at 3 percent; eradicating corruption and malpractices in officialdom to create a fair society; creating more jobs for young people as it addresses Korea’s rapid transition to an aging society.
On the global stage, the administration will also make efforts to strengthen Korea’s bridging role between advanced and less-privileged countries and seek more free trade agreements to expand the country’s “economic territory,” while setting up stronger regulations against international hedge funds, he said.
“Many challenges lie ahead, but we will be able to have another successful year in 2011 if all public servants work at their jobs faithfully and enthusiastically,” President Lee said at the meeting.
The conservative leader stressed that the G20 summit provided a crucial opportunity for Korea to become an advanced and more globalized country.
“We successfully hosted the meeting to highlight our strengths to the world. The Korean markets will attract more attention from global investors next year,” he said.
In early December, the Ministry of Strategy and Finance set the target for next year’s economic growth at 5 percent, which is higher than an earlier forecast of 4.5 percent by the Bank of Korea and the International Monetary Fund. The 2011 growth forecast is compared with 6.1-percent growth in 2010.