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Press conference on S. Korean economy

Pyongyang, November 27 (KCNA) — The Pyongyang mission of the National Democratic Front of South Korea held a press conference on November 25, 2 years after the South Korean economy was placed under the mandate of the IMF.


Addressing the press conference, Pak Kwang Gi, chief of the mission, said that the South Korean economy has been neither recovered nor improved but has gone bankrupt over the last 2 years of ruinous mandate.

Recalling that more than 53,000 enterprises have gone bankrupt in the past 2 years, he noted that this predicts the total bankruptcy of the South Korean economy as a colonial comprador economy. He went on:

The imperialist monopoly capital’s mandate over the South Korean economy has brought nothing but an unprecedented collapse of the economy, the widening gap between the rich and the poor and enormous profits of the privileged circles, specified businesses and the foreign monopoly capital.

The Kim Dae Jung group is, however, talking about “economic growth and recovery.” This is intended to hide its total economic failure, a product of its thrice-cursed crimes, and calm down the angry voices of the people.

Image credit: https://www.flickr.com/photos/cynthinee/9431659877/

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