Lee says economic crisis to peak in first half of 2009 By Yoo Cheong-mo

SEOUL, Dec. 16 (Yonhap) -- President Lee Myung-bak said Tuesday that South Korea's economic downturn is expected to hit bottom during the first half of next year, vowing to act "speedily and effectively" to minimize its negative impact.
Presiding over an expanded Cabinet meeting to discuss key economic policy goals
for 2009, Lee instructed top policymakers to address the ongoing economic crisis
with their sights set on the post-crisis global economic order and new
opportunities.
"The year 2008 witnessed the outbreak of an unprecedented economic crisis and
countries worldwide are expected to overcome the crisis next year. I expect next
year will be most painful as the crisis will peak in the first half," said Lee.
"The government is thus determined to cope with the economic difficulties
speedily and effectively. All economic entities should encourage one another and
refrain from negative criticism to help back the government's efforts. Such an
attitude will be helpful in weathering the crisis."
The president proposed the Korean government enforce the most efficient measures
to fight the economic crisis and prepare for the post-crisis global order.
"Overcoming the pending economic crisis is very important. But what's more
important is our readiness for the future. Korea's further economic leap in the
post-crisis era will largely depend on how we approach the current crisis," said
Lee.
ycm@yna.co.kr
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