President Kim to Raise Foreign Investment to 20%

President Kim Dae-jung announced on May 15 a plan "to raise the ratio of Gross Domestic Product (GDP) verses foreign investment from the current 8 percent to 20 percent in a few years by proceeding with an active open economic policy toward foreign countries."

President Kim announced the plan after his keynote address to the 'Global Forum 2000,' held in Washington, which he made via a satellite video link.

President Kim also commented on the South-North summit to be held next month, saying that "we will continue with second and third summits in step with the progress in achieving agreements based on reality."

Kim made his address through a video conferencing link at the forum hosted by the U.S.-based ESI (Economic Strategy Institute). However, the quality of the sound was so poor that only the picture was shown and Lee Hong-ku, the Korean ambassador to the United States, read the 20-minute English speech in place of President Kim.

by Lee yang-soo