10/4/11 (AEIN) South Korean President Lee Myung-bak made his bi-weekly radio address on Monday and focused on economic issues, which have sparked widespread concern in recent weeks. He sought to reassure the public about the country's economy and government efforts to prevent it from worsening, KBS radio reported Tuesday.
The national leader said that the economy remains sound, pointing to South Korea's relatively low level of foreign debt and the large quantity of products that the country continues to export. He assured listeners that the government had taken measures to improve the economy and would closely monitor the situation.
Several banks were suspended by the South Korean government in September and 103 corporations went bankrupt in August, according to Yonhap News. KBS reported that the government plans to increase public transit fees significantly in early 2012 as a result of rising electricity, diesel and natural gas costs.