Prime Minister upbeat about 'gradual stabilization of financial market'
- 관리자
- 2008.10.15
- Hit 4215
"I expect the financial market to gradually stabilize as a result of the government's efforts and international cooperation to dispel people's anxiety about financial turmoil." Prime Minister Han Seung-soo made this and other remarks at a Cabinet meeting held at the Central Government Complex in Seoul on Tuesday (Oct. 14). He also said, "The stock and foreign exchange markets in Korea have improved to some extent. And foreign bourses have become bullish as well."
The Prime Minister said, "The government has so far made all-out efforts to remove instability of the financial market, including a ban on short sales of stocks and an announcement of a policy to support small- and medium-sized enterprises."
"Last weekend, G-7/G-20 finance ministers agreed to use all means available to overcome the worldwide financial crisis. The global financial market is becoming stabilized in the wake of a series of measures taken by the United States and European nations by intervening actively in the market," he said. "Korea will play a major role in the future as the next chair of the G-20."
The Prime Minister went on to say, "With a current account surplus expected in the fourth quarter, the well-performing economy will also contribute to the stabilization of the financial market." He called on businesses, financial firms, political circles and the people to trust each other and work together to wisely overcome the current difficulties.
He instructed all government agencies, including financial authorities, to make constant efforts to deal with the current financial crisis.
By Chung Myung-je
Korea.net Chief Staff Writer