KOREA'S ROH SEES BOOMING ECONOMY, LINKS TO EAST BLOC

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP05T02051R000200350056-0
• Release Decision: RIFPUB
• Original Classification: K
• Document Page Count: 1
• Document Creation Date: December 22, 2016
• Document Release Date: August 12, 2011
• Sequence Number: 56
• Publication Date: October 5, 1988
• Content Type: OPEN SOURCE

Approved For Release 2011/08/12 :CIA-RDP05T02051 8000200350056-0
l~~.9 YORK T'I~IF.S
1':.~>~ ST.T~T J. ~~
I?;.~SIiL~'GIUN TI1~1FS
Korea's Roh Sees
BoomingEconomy,
Links to East Bloc
SEOUL, South Korea-President Roh
' Tae Woo's first major policy speech since
he took office revealed a buoyant optimism
+ about South Korea's economy and a desire
to intensify its dialogue with the once-re-
viled canmunist world.
In .an address to the opposition-domi-
nated National Assembly, Mr. Roh also
promised to take the lead in the drive to-
ward democratization, in pursuing a fairer
distribution of the national wealth and in
efforts to reunite with North Korea.
But despite his conciliatory tone and of-
fer of full partnership to the assembly, he
drew Stony silence from the opposition and
only polite applause from his own party's
lawmakers.
Opposition Wants Action
"The speech was very pretty," said Lee
;:.!,~. ~ ~,~~ vl,r~Y.,-s:nan for tlir Party fof
ro~~,p. "hut the important thing is actions,
n.,i words. Our pcuple want to see more ac-
tions on democratization."
There was widisguised disappointment
that Mr. Roh's government released only
52 political prisoners Monday, Korea's
Foundation Day. The four major parties
had called for the release of many more of
the 500 South Koreans acknowledged by
the Supreme Court to be in jail for politi?
cally related offenses.
Mr. Roh made his remarks in a speech
seeking approval of a government budget
for next year of 19.37 trillion won ($27.09
billion), up 11% from this year.
Stronb Economic Growth
The president said South Korea's gross
national product will more than double to
$250 billion by 1992 from $118 billion last
year, increasing per-capita GNP to $6,000.
This growth will be stimulated by a contin-
ued export boom, he said, with shipments
abroad growing to $90 billion in 1992 from
$~t7.3 billion last year.
Mr. Roh pledged "more effective meas-
ures" next year to check rising inflation,
which is expected to reach 7% this year.
He said those measures will include tighter
control of money supply, better manage-
ment of balance-of-payments surpluses,
and abeefed-up price?stabilization policy ,
that would limit inflation to 5%.
The president pledged to take actions to
further liberalize imports for a more bal?
anced trade with the U.S. and other coun-
tries. The country's current-account sur-
plus,. asource of friction with its trading
partners, is expected to balloon to i12 bil-
lion this year from 59.78 billion last year.
But, while stressing, .the need for
strengthened relations with the U.S., Japan '
and the European Community, which ab?
sorb :70% of South Korea's exports, he said.
his country also will try to expand trade."
and other links with the Soviet Unfon and
other communist nations with which it has
no diplomatic relations. He pledged to par-
ticipate actively in the development of Si-
beria.
Mr, Roh said he is ready to go to
Pyongyang to meet North Korean Presi-
dent Kim II Sung, and to discuss "without .
any restriction ...all pending issues
raised by both sides." He also promised to
unveil soon a "new unification formula."
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Approved For Release 2011/08/12 :CIA-RDP05T02051 8000200350056-0