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Main Opposition Party Rules Out Crisis Fears

Posted September. 05, 2008 07:17,   


The chairman of the main opposition Democratic Party Chung Sye-kyun yesterday ruled out rumors of a September financial crisis as groundless.

Chung told a Christian prayer meeting of lawmakers at the National Assembly, "Unfounded media reports of another financial crisis in September have put the public on edge.”

“The job of the National Assembly is to make the people feel comfortable. In the past, each political party capitalized on rumors of economic crisis, but the Democratic Party will never use this unfavorable issue, something which I think is unsubstantiated, to our political advantage.”

He added, “Before attending the prayer, I thought with what attitude I should serve the people. The Democratic Party will take the lead in bringing about a parliament that makes the people feel at ease.”

Chung also told The Dong-A Ilbo, “We have no chance of seeing a repeat of the 1997 financial crisis. But since most economic indicators show negative signs, the Lee Myung-bak administration should deal with the situation wisely.”