South Korea’s President Lee Says Economy Has Turned a Corner

South Korea’s Lee Says Economy ‘Out of Crisis,’ Eyes AI and Shipbuilding Boost

President Lee Jae Myung declared that South Korea’s economy has “turned a corner,” crediting determined government action over the past five months to overcome what he called a “severe economic crisis” caused by illegal martial law. The rebound was highlighted in Lee’s annual budget speech at the National Assembly, as the Kospi index surged past […] The post South Korea’s Lee Says Economy ‘Out of Crisis,’ Eyes AI and Shipbuilding Boost appeared …

South Korea’s President Lee says economy has turned a corner

SEOUL (Reuters) -South Korean President Lee Jae Myung said on Tuesday the economy has turned a corner as risks related to geopolitics and corporate governance have been easing, which has boosted the local Kospi stock index beyond the 4,000 mark. “Consumer sentiment is improving, and economic growth in the third quarter has rebounded to a six-quarter high of 1.2% from a contraction in the first quarter,” Lee said in his annual budget speech at th…

Lee orders halt to disposal of state assets

President Lee Jae Myung gave emergency instructions Monday to halt the disposal of government assets, the culture minister said. Chae Hwi-young announced the president's instructions in his capacity as government spokesperson, without specifying what assets he was referring to. Lee ordered each ministry to review whether to proceed with asset disposals currently under way, and to refrain from disposals except in cases of "unnecessary assets," Ch…