President Roh to Personally Check Restrictions on Corporate Investments

President Roh Moo-hyun said on Tuesday that his administration will place top priority in revitalizing the economy and stabilizing the people’s livelihood this year and make every effort to materialize this plan. He pledged his administration would do everything it takes to create jobs by expanding investments.

In a New Year’s greetings meeting with business people presided over by the Korea Chamber of Commerce and Industry at the Convention and Exposition Center in central Seoul, President Roh asked the economic circles to focus on making investments this year with the ability that had enabled Korean exports to reach a record high in 2003.

He said that the government will thoroughly review all land regulations and try to lift restrictions which may possibly block the corporate investments. He also said that he will personally check all restrictions which can possibly hamper corporate investments. He also stressed that the nation’s competitiveness will be enhanced by gradually lowering corporate tax rates, expanding financial and tax benefits for facility investments, concentrating on fostering ten next-generation growth industry, developing programs to innovate technology and cultivate men of ability, and pushing forward with the plan to improve the markets.

Jeong-Hun Kim jnghn@donga.com