Jin Nyum urges stabilized int¡¯l oil prices

Attending the finance minister-level meeting of APEC (Asia-Pacific Economic Cooperation) on September 9 in Brunei, Finance and Economy Minister Jin Nyum in his keynote address called for positive collaboration from member countries in North Korea¡¯s attempts to normalize its international relations. The minister asserted that economic cooperation with North Korea is an important turning point for peace and prosperity on the Korean peninsula and in the

entire Asia-Pacific region.

Moreover, the minister urged member countries to work together to stabilize surging international oil prices. The minister asserted that the recent oil price hike could threaten the economy of all oil-importing nations as well as the stability of the world economy. The minister went on to say that Korea will expedite the completion of on-going reforms in the four major sectors -- finance, corporate, labor and public -- based on the reform

results so far. The Minster explained that Korea is promoting the development of new industries such as IT (information and technology) while attempting to broaden the spectrum of economic cooperation with North Korea.