Korean deputy finance minister: Still unsure about the right course to take
Korean deputy finance minister Lee Kyun Kyong speaks about the barrage of criticism that has hit the government.
The Korean government has come under fire from all sides. Some accuse it of being too slow in pursuing reform and others suggest that it is interfering far too much. Chris Cockerill spoke to Korean deputy finance minister Lee Kyun Kyong about the barrage of crtiticisms
There seems to have been a lot of negative sentiment in the market concerning the restructuring of Korea's financial sector recently. Why?
I don't believe the international community's perception has been negative. On the contrary, both the IMF and the OECD are applauding Korea's restructuring and recovery process. The view is that Korea has swallowed the bitter medicine necessary to carry out a far-reaching restructuring programme.
I don't deny that the quick economic recovery has led to a sense of complacency and that during the course of restructuring labour tensions have sporadically emerged, but I want to assure people that the Korean government has a strong will and the measures to cope with these matters.