Presidential Spokesperson Park Jeong-ha gave the following briefing after an emergency Cabinet meeting this afternoon.

President Lee Myung-bak convened an emergency Cabinet meeting this afternoon to discuss government response measures in connection with the death of Chairman Kim Jong Il of North Korea.

Concluding the meeting, the President said, “For the sake of the future of the Republic of Korea, peace and stability on the Korean Peninsula is more important than anything else. It should not be threatened by what has happened. We must make thorough preparations to maintain peace and stability and continue to work closely with the international community.”

The President went on to say, “Related ministries and agencies have to cautiously respond to ensure that sovereign credit ratings are not adversely influenced by geopolitical risks amidst economic difficulties. At a time when we ring out the old year and ring in the new, a contraction in consumption especially has a direct bearing on the lives of low-income families. Accordingly, each ministry and agency concerned needs to thoroughly monitor developments to make sure that citizens can go about their everyday business as usual.”

The President also emphasized, “The most important thing is to prevent a division of public opinion. All citizens are asked to go about their lives without wavering so that peace and stability on the Korean Peninsula will not be hampered.”

The Cabinet meeting lasted about 30 minutes, beginning at 3:00 this afternoon. The Minister of Unification first made a report on the development of the North Korean situation, which was followed by other ministers’ explanations of their organizations’ respective responses to the situation. They then reviewed and discussed relevant measures, including cooperation with neighboring countries.