Country Profile/Ads: South Korea

Country Profile/Ads: South Korea This page will be published during the ASEAN BUSINESS AND INVESTMENT SUMMIT

Roh puts emphasis on economy and North Korea issue

Below are excerpts taken from the speech of South Korean President Roh Moo-hyun given to mark the country's 58th Anniversary of National Liberation on Aug. 15. Roh, who was appointed as South Korea's 16th president on Feb. 25, is one of key speakers at the ASEAN Business and Investment Summit.

Only about a hundred years ago, we had neither the soldiers to safeguard the country nor the economic capability to train them. Neither were we able to grasp the fast-changing world order and take steps to cope with it; nor were we capable of pooling the determination and strength of the people.

The situation is different now. Our economic success caught the world by surprise. We are now attracting world attention as a forerunner in the age of information. The development of our democracy also earned worldwide acclaim. Our loyal and strong military has been safeguarding the country on the strength of a solid economy and democracy.

Returning home from my visit to three countries, the United States, Japan and China, I reconfirmed the standing of our country. I was received with warm and respectful hospitality in all the three countries.

And I again confirmed the fact that the determination of our people has been having a significant influence on the order of Northeast Asia.

I have deep respect for and commend those who led the country to where we are now by overcoming the history of colonization, suppression and usurpation that robbed us of the opportunity for independent development, and who rose from the pain of national division and the legacy of fratricidal war.

Now let us make a joint pledge. Let's not repeat the humiliating history; let's ensure that our children live in a more bountiful and stable world; let's help them feel proud of our country and history; let's help them realize their dreams; let's make them confident enough to take part in and lead the world order.

We should further solidify our economy and national security. We should overcome national division and establish an order of peace and prosperity on the Korean Peninsula and in Northeast Asia. This is by no means easy. Above all, we should unite as one. To that end, we should further develop democracy and help the culture of dialogue and compromise take root. The principles and the great cause for all the people to respect and nurture must be clearly set forth.

The success of the economy is important. Without economic success, it is hard to succeed in other areas. Within 10 years, we should achieve US$20,000 in per capita income.

As I have stated many times, the government has adopted technological innovation, the cultivation of competent talent, reform of the market and social culture, realization of the age of Northeast Asia and decentralization as its strategies for strengthening competitiveness; it has been stepping up efforts to realize these strategies.

To help stabilize living conditions and bolster long-term growth potential, the government will steadily implement policies to keep real estate and housing prices stable.

I will soon present measures to consolidate the culture of enhanced labor-management relations. I will see to it that friction and confrontation between labor and management will not drag our economy down.

We can no longer resist the trend of openness. Free trade agreements will be actively pursued. Fundamental measures are in the works to deal with the damage that trade liberalization will cause to farmers.

Education should be reformed so as to back up competitiveness. I will pursue these policies consistently throughout my term. I will by no means be mindful of any temporary popularity. In that way we can lay the groundwork within my term for $20,000 in per capita income, and after I leave office the economy should certainly grow at a faster pace.

China has been growing fast. But that is not necessarily a cause for worry. We too have been working hard. When a solution to the North Korean nuclear problem is found, there will be a way on the horizon for inter-Korean peace and cooperation, and then the age of Northeast Asia will open. When the age of Northeast Asia opens, China's development will provide an opportunity for our economy to stage a take-off. Everything depends on what we will do.