South Korean President Lee Myung-bak says inflation will be kept in the lower three percent range by all means this year so the public can feel the effects at hand. In his biweekly radio address aired on Korean (KBS) radio Monday, the president said the government will introduce a system that will designate ranking public officials to be responsible for price control and managing the supply and demand of key necessities.
Lee also stressed the government has been keeping tabs on the price level of 40 staple items since late last month. The president touched on the proposed free trade agreement with China as well. During his state visit to Beijing last week, he promised to soon launch bilateral free trade negotiations. Lee noted the FTA with China also relates to national security. He said China has aligned with South Korea''s stance that an advance agreement must be reached regarding sensitive areas such as agriculture. 

Source: BNA