Kim admits responsibility for economic policy failures

President Kim Dae-Jung Sunday said that the government is entirely responsible for the recent economic difficulties and he is its most responsible figure.

He said the government announced the nation¡¯s graduation from International Monetary Fund (IMF) stewardship even though overall economic conditions were not completely satisfactory.

Kim admitted that there was some complacency in Korean society and that the nation lacked what he called alertness, for which he was also sorry.

¡°In this way, the reform fatigue spread across the nation.¡± Kim made the remarks after receiving a briefing on the business programs of the Cheju provincial government.

As for the latest developments in inter-Korean relations, the president said that talks between the South and North were progressing to the extent that the North is asking for food in return for giving up the development of Taepodong missiles.

If existing problems are resolved, North Korea and the United States are expected to agree to set up diplomatic ties, the president said.

He added that North Korea had officially asked the South to supply additional electric power, but that the South could not comply without any cause. Since the South has a coal surplus, it may offer that instead.

Kim vowed to make efforts to achieve harmony among the people. But personnel and material problems must first be resolved, he said.