South Korean President Lee Myung-bak on Thursday expressed a strong optimism about the country overcoming the current financial problems in the country caused by the outbreak of U.S. financial market turmoil.
"The U.S.-generated financial crisis is jolting the entire world. In the case of South Korea, the psychological impact, rather than actual damage, seems to be largely responsible for its financial market instability," Lee said at the meeting of top conglomerate chairmen and economy-related ministers at the presidential office.
"Enterprises should be more confident (about overcoming the crisis), while the government will respond calmly. In some ways, elimination of market uncertainties will also help open an era of predictability.", he said.
The president also mentioned that South Korea's latest upgrade to "developed" market status from "advanced emerging" status by global index provider Financial Times Stock Exchange (FTSE) Group would have a positive impact on stabilizing the local stock market.
Source:Xinhua
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