"Only those countries which are determined to improve their own fundamentals can survive. It''s necessary to remove bubbles, be it a country or a corporation," said President Lee Myung-bak on Dec. 19.

President Lee was quoted by Cheong Wa Dae spokesperson Lee Dong-kwan as saying this when he met staffs of Incheon Port Authority and GM Daewoo''s Bupyeong plant that day. He said, "Next year, companies and their unions should make some compromises for their own survival."

President Lee said, "Unions and companies can''t overcome the current economic crisis if they stick to their old styles. As long as we are in an unprecedented economic crisis, they also need unprecedented cooperation. They can survive when they make sacrifices on their own."

The President said, "It''s up to you to keep jobs. Amid very difficult economic conditions that may require a lot of sacrifices, you had better put up with the difficulties and suffer together. If you suffer together to keep your companies functioning, the economy will recover a year or two later. You should be patient with your own sacrifices until that time. This is also the case with the government."

The President went on to say, "Probably, we haven''t seen more difficult times than this. Our country, however, may be suffering relatively a little less than the other countries around the world. Of course, it''s important to create more new jobs. But what is also important is how to keep the current jobs."

The President added, "We can''t keep jobs if we hold on to old styles. Unlike in the earlier financial crisis which hit only Asian nations in 1997 (and 1998), the entire world is suffering difficulties altogether. No matter how well we perform, there are not many markets which we can export our products to."

The President also said, "We''ll be still suffering during the first half of next year. But the economy will improve a little in the second half. If the economy is to recover quickly, the global economy as a whole should recover. We can do nothing with our own efforts alone. But we should take advantage of this opportunity to enhance our own competitiveness."

The President continued, "Any kind of difficulty has its own end. Worldwide experts speculate that the current economic difficulties will come to an end a year, two years, or a maximum of three years later." He also called for turning this crisis into an opportunity to improve the country''s fundamentals to make steady progress in the world in the future.

Meanwhile, citing an example of General Motors in the United States, the President encouraged workers at GM Daewoo''s Bupyeong plant. He said General Motors is in such difficulties that it is hard for the U.S. government to resuscitate it even with state funds. He said, "GM Korea is different. I think GM Korea is performing best among GM''s subsidiaries around the world. I visited GM Daewoo (Bupyeong plant) in January and today again, because I believe GM Korea should survive."

On Dec. 19, President Lee marked the first anniversary of his election. The day also was not only his 67th birthday, but also the 38th wedding anniversary of him and First Lady Kim Yoon-ok.

Arriving at Incheon Port early in the morning that day, President Lee wore a blue muffler around his neck, which Mrs. Kang Bo-ok, an 83-year-old Korean American residing in Seattle, had knitted for him.

According to a presidential official, Mrs. Kang had sent the muffler to the President, saying that she was deeply touched when she read a news story about the President having given his own muffler to an old woman vendor at Garak Agricultural and Fish Market in Seoul recently.

President Lee earlier arrived at the auto shipping dock at Pier 5 of Incheon Port, accompanied by Minister of Land, Transport and Maritime Affairs Chung Jong-hwan and Incheon Mayor Ahn Sang-soo. After being briefed by Incheon Port Authority President Kim Jong-tai, the President toured around the port and gave encouragement to workers there.