Lee says R&D investment key to economic revival

(ATTN: UPDATES with additional remarks, minor changes)
By Byun Duk-kun
SEOUL, Jan. 8 (Yonhap) -- South Korean President Lee Myung-bak Thursday called
for increased corporate investment in research and development, saying the
country must prepare for the future especially when times are difficult.
The call came three days after Lee urged businesses to increase their investment
in green technology, which he said will provide competitiveness once the
worldwide economic downturn comes to an end.
"Now indeed is the time when our country can take a leap to become an advanced,
first-class nation, so we must thoroughly prepare for the future while working to
overcome the current crisis on the other hand," Lee said in a meeting with
scientists and engineers.
The meeting was held at the Korea Science and Technology Hall in southern Seoul
with some 800 officials and other figures, representing the country's science,
industrial and academic sectors, the presidential office said.
Lee also reiterated his call for increased investment in environmentally friendly
technology, saying the country must be on the cutting edge of the burgeoning
sector.
"In the new era, the era of green economy, we have no choice but to compete with
the world for green technology. There are some countries which are already ahead,
but it is not too late for us yet if we thoroughly prepare," Lee said at the
meeting.
The president earlier said the ongoing problems in the financial market could
soon be felt in the real economy.
"I ask our scientists and technology experts to actively take steps to help our
country overcome the economic crisis at the earliest date possible, and I also
ask our businesses to put in more investment in research and development, which
will provide the source of their competitiveness in the international market," he
said in the speech.
bdk@yna.co.kr
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