|President Lee Myung-bak gave a keynote address at the B20 Business Summit held at the Martinez Hotel on November 2 (Photo courtesy of Cheong Wa Dae).|
03 November 2011
The Korean president said that corporations are expected to play greater roles in fostering economic growth and reviving the global economy, while pointing out the widening income gap and the persistent problem of youth unemployment.
President Lee also emphasized government-level planning to create a more business-friendly environment -- including market liberalization and deregulation -- that spurs corporations to focus more on their core business activities. During the presentation, President Lee referred to the example of his own administration’s efforts to improve the business environment in this direction, which resulted in a significant increase in rank on the ease of doing business index. In 2011, Korea ranked eighth on the World Banks’ annual report, rising from 23rd in 2008.
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