Lanka can adopt Korean model - Ambassador

Hiran H. Senewiratne

Sri Lanka should now adopt a development model similar to the Korean model to achieve high economic growth with the end of the war, Republic of Korea Ambassador Choi Kichul said.

“Korea took 60 years to develop the economy following the Korean war, Therefore, Sri Lanka has now crushed LTTE terrorism after 26 years. It is high time to adopt a strong economic model similar to the Korean model to achieve rapid growth,” Ambassador Kichul told the Daily News.

The Korean Ambassador attended a ceremony when two Korean war vessels arrived at Colombo Port yesterday under the command of Rear Admiral Dong-Kyum Kim as a goodwill visit to Sri Lanka following the first in 1977, the second in 1993 and the third in 1994.

The 2009 ROK Navy Cruise group delivered through the Korean Embassy to Sri Lanka 1,000 items as a gift of friendship and 50 computers to the needy in rural areas in Sri Lanka provided by the Korean Red Cross and the Korean Information and Cultural Promotion Center.

Kichul said that 60 years ago the per capita income in Korea was US$60 and now it is over US$ 20,000 due to the adoption of proper economic policies. “Diligent work force along with a competent and good leadership in the country was the secret behind Korea’s success, he said. Sri Lanka can also position itself as a developed nation under President Mahinda Rajapaksa,” he said

He said Sri Lanka has also come up as a developed nation like Korea because both countries are in the same Asian region and depend on human resources.

Korea developed the economy by investing in industries including ship-building, chemical sector, car manufacturing, IT sector and several other areas, by raising soft loans from Western countries.