May 07, 1999
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| May 07, 1999 | atimes.com | |
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| The Koreas Seoul to continue stimulus policies SEOUL - South Korea will continue to pursue stimulus policies for early economic recovery with support from corporate investments and restructuring, a high-level official at the Ministry of Finance and Economy said Tuesday. Hyon Oh-suk, chief of the ministry's economic policy bureau, told a press conference that continuation of pump priming policies is necessary to help improve investment sentiment and fight unemployment. The economy is on the road to recovery but has yet to regain its pre-crisis level in overall economic activities, he said. Hyon predicted that corporate investments are central to the economy's growth in the latter part of the year.A decline in local interest rates and the stock market's rise will cause local firms to boost their investments in the latter part of the year. The government will stick to its policy of allowing market forces to determine interest rates because the country has a stable money market, he added. (Asia Pulse/Yonhap) | |||||||||
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