Korea on the Load Ahead

Korea on the Road Ahead
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subject [MINISTRY OF STRATEGY AND FINANCE]6th Crisis Management Meeting
Contact Foreign Press Spokesperson Date 2010-02-24
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Minister Yoon chaired the 6th Crisis Management Meeting, discussing the future of Korea˘®?s agricultural and fishing industry, measures to prevent the outbreak of toxic blue-green algae after the drying season, as well as the introduction of the accrual basis accounting and double-entry bookkeeping system.

 

The agricultural and fishing industry is expected to face substantial changes over the upcoming decade, due to heavy pressures on opening the market, rapid aging of population in rural areas, accelerating climate change, as well as the conversion of the agricultural industry to high-end scientific technologies. In this regard, the future of the agricultural and fishing industry will depend on how it deals with opportunities and risks caused by environmental changes. Also, it needs to develop sophisticated agricultural technologies, commercialize foods, and promote exports of agricultural products. The opening up of domestic markets to foreign competition is necessary to improve the competitiveness of Korea˘®?s agricultural industry.

 

The 20th century was the era of oil, whereas the 21st century can be characterized as the era of water. In this regard, water management policies need to focus on risk management; water pollution prevention measures will be taken to stop toxic blue-green algae from growing following the drying season.

 

Due to the recent sovereign debt concerns in southern Europe, worries have been raised about Korea˘®?s fiscal soundness, but the country˘®?s fiscal condition remains sound. The government will improve the transparency of accounting and introduce the accrual basis accounting and double-entry bookkeeping system, so as to manage national assets and evaluate fiscal conditions systematically.

 
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