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(LEAD) S. Korea vows pre-emptive responses over Brexit unrest: PM

All News 18:45 June 27, 2016

(ATTN: UPDATES with prime minister's speech in first 7 paras; CHANGES headline)
By Kim Deok-hyun

TIANJIN, China, June 27 (Yonhap) -- Prime Minister Hwang Kyo-ahn said Monday South Korea will take pre-emptive measures to contain market volatility and address economic concerns following Britain's vote to leave the European Union last week.

"The Korean government plans to pre-emptively deal with the impact of Brexit on the world economy," Hwang said in a keynote speech at the World Economic Forum in the northern Chinese city of Tianjin.

The global economy is facing an "uncertain situation" as Britain voted to leave the 28-nation bloc, Hwang said.

To cope with Brexit, Hwang said "short-term economic stimulus measures, including an expansion of fiscal spending," are needed.

In the long term, Hwang said the global economy needs to find new growth engines and improve its productivity.

Hwang arrived in Tianjin on Sunday for a five-day trip to China that included meetings with Chinese leaders, including President Xi Jinping and Premier Li Keqiang.

At the "Summer Davos" forum in Tianjin, Hwang briefed global economic leaders on South Korea's "fourth industrial revolution," according to the prime minister's office.

This year's forum brings together about 1,700 attendees including politicians, entrepreneurs, scholars and media representatives from over 90 countries, China's foreign ministry said.

Before heading to Beijing on Monday evening, Hwang is scheduled to visit a joint venture between South Korean and Chinese firms that produces light emitting diode (LED) display panel.
(END)

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