Lee orders measures to ease market jitters By Yoo Cheong-mo

SEOUL, Sept. 17 (Yonhap) -- President Lee Myung-bak on Wednesday instructed his government to disclose all information about the current global financial turmoil to minimize shock and confusion in local financial markets.

"The government has to take thorough countermeasures to prevent the
U.S.-originated financial crisis from spreading into Korea and causing confusion
and shock to domestic investors," Lee was quoted by his spokesman as saying
during a meeting with senior presidential secretaries.
"In particular, all information should be accurately and transparently made public."
Lee then expressed his wish to personally invest in financial funds to help
stabilize the local financial market, according to presidential spokesman Lee
Dong-kwan.
"As a civil servant, I'm not allowed to invest directly in stocks. But if
indirect investment funds are available, I'm ready to buy one of them," said the
president.
Global financial turmoil, triggered earlier this week by the sudden bankruptcy
filing of U.S.-based investment bank Lehman Brothers, is now showing signs of
abating after the U.S. Federal Reserve decided Wednesday to bail out the ailing
insurance giant American International Group (AIG) with US$85 billion.
Lehman Brothers and AIG, along with several other ailing U.S. financial
companies, have been regarded as being among the most unpredictable factors in
the global financial market.
Meanwhile, President Lee also ordered his secretaries to ensure that the latest
fall in international oil prices would immediately trickle down to consumers.
ycm@yna.co.kr