S.Korean president: economy yet to regain momentum

Published: 01 Nov 2009 17:39:20 PST

SEOUL, Nov 2 - President Lee Myung-bak said on Monday it would take more time for the South Korean economy to recover momentum and come out of the crisis because domestic spending was weak and a global recovery not secured.

"It will take a little longer until our economy recovers the virtuous circle between domestic spending, investment and employment," Lee said in a prepared speech at the parliament that was distributed in advance.