Tue Oct 21, 2008
By Jack Kim and Cheon Jong-woo
SEOUL (Reuters) - South Korea's President Lee Myung-bak said on Tuesday a looming global downturn had made his country's economic challenges graver than during the Asian financial crisis a decade ago.
The fourth biggest economy in Asia has looked especially exposed to the financial turmoil, with the government at the weekend announcing a $130 billion rescue for its financial system and later on Tuesday will unveil plans to help its wilting construction industry. http://www.reuters.com/article/businessNews/idUSTRE49K0L920081021?sp=true