Fiscal crises often turn into financial crises, dealing a blow to the real economy.

Fortunately, when Korea was struck by the 1997/8 financial crisis, that was a good opportunity for us to engage in fundamental reforms and strengthen our financial structure. As a result, our financial regulatory structure and regime have been very much strengthened.

Korea is an open society and we will make sure that there is no restriction on foreign investment in Korea.

If we are to assume that North Korea becomes a nuclear-power state, of course the danger of having an all-out nuclear war, that possibility is very slim.

I plan to eliminate the equity cap in investment, and I also plan large-scale deregulation to meet global standards.

Yes, I don't believe that the inter-Korean relationship has, quote, 'deteriorated' since I assumed office. Rather I believe that the relationship between the two Koreas is entering into a new phase - a time of transition. And so I think that the North Koreans are trying to see what they can build with this, with my new administration.