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The South Korean government pledged to rescue the country from economic crisis by boosting investment and curbing severe labor unrest. ”We are undergoing a grave transition marked by a technology slump, high wages and disorder,” Deputy Prime Minister Cho Soon, the nation`s top economic planner, said in a report outlining policy for 1990. ”We are now at a crossroads which could either advance us into becoming like Japan or slip us back to a South American-type economy,” he said. His report, presented to President Roh Tae Woo, promises businesses tax incentives and about $2.6 billion of cheap financing next year for investment in factories and high technology.
