"Stable Value of Won is Needed."

President Kim said on January 20 at a conference for trade and investment promotion, 'The government should stabilize the value of the won to boost the Korean economy: The government will stabilize the value of our currency through proper measures.'
Lee Kyu Sung, minister of finance and economy, commented, 'We will continue to lower interest rates to settle the precarious situation of an abundant influx of dollars. We will repay the foreign debts that have high interest rates, but we will maintain foreign currency reserves near the 55 billion-dollars.'
Kim continued, 'The 4.5 percent margin between deposit and loan interest rates is far too high compared to the 0.9 percent in Japan or Taiwan's 2.8 percent. This can hurt the competitive power of companies.'
The finance minister also said, 'Companies should avoid the risks in exchange-rate fluctuations. Companies are exposed to risk: it is a fact of life, but they can minimize their exposure.'
At the trade conference Prime Minister Kim Jong Pil, businessmen, and various ministers related to the economy discussed possible solutions to the sluggish economy.