South Korean Prime Minister Lee Hae-chan said on Thursday both he and the president were guided by the market in economic policy, dismissing talk in some media and business circles that the administration was left-leaning in this area.
"Both the president and the prime minister trust the market economy and are not leftist on economic policy," Lee told business executives at a meeting hosted by the Korea Chamber of Commerce and Industry.
Finance Minister Lee Hun-jai also told a televised forum on Wednesday the current administration could be labelled centre-right in terms of economic policy.
President Roh Moo-hyun, a former labour lawyer, has frequently emphasised the importance of wealth re-distribution in economic policy, a remark interpreted by some in the market as indicating a policy shift away from the economic growth.
A recent budget ministry plan also showed this week the country would increase fiscal spending on welfare projects more rapidly than on projects aimed at helping industrial sectors.
Comments
Comments are closed.