"The government will give proactive support to each industry. But major conglomerates should make their own efforts to restructure themselves," said President Lee Myung-bak on Dec. 26.

President Lee made the remarks when he received policy briefings from three government agencies -- the Ministry of Knowledge Economy, the Small and Medium Business Administration, and the Korea Communications Commission -- at Cheong Wa Dae that day.

He also said, "Many businesses will likely suffer difficulties. Under these circumstances, conglomerates should take the initiative to voluntarily restructure themselves in a bold way with a view to turning the current situation into an opportunity to enhance global competitiveness of their key business lines."

The President said, "The government has so far implemented business-friendly policies. And it will also proactively take market-friendly policies." He then asked enterprises to work out countermeasures to turn the crisis into an opportunity to become world''s leading businesses. He also asked all sectors, including the government and businesses, to work together to overcome the crisis.

The President continued, "The moment 2009 begins, we should start taking action. We''re in a hurry, considering that the economy will likely hit rock bottom in the first and second quarters of next year. Please take the initiative to work out next year''s programs."