Dong-Seob Cho

Senior, Statistics

Since the global financial crisis began in the U.S., problems in the sub-prime mortgage market have deepened. Uncertainty in the Korean economy has also been heightened. Currently, our situation presents a variety of serious problems such as the devaluation of the won, falling stock prices, reduced consumption, and the restructuring of entire industries. Faced with these issues we cannot simply be critics or bystanders. We must endeavor to solve the problem through determination and courage.
One of the problems most university students are very much interested in is finding employment. It is easy for graduating university students to be discouraged by the current situation. People who are currently employed are worried about being laid off or losing their jobs permanently. Faced with this bleak employment landscape university students might feel like it is impossible. However, now is the time for a positive attitude. We cannot give up and be hopeless about our prospects. This is a time for greater effort and not greater despair.
The fact of the matter is that this is a global problem that is not easily dealt with by any individual person. However, as the saying goes "Many drops make a shower," if individuals combine forces and effort, it will not be long before we can successfully overcome this difficult situation. A good example of the power of positive action is when our country recovered from another critical situation during the Asian financial crisis ten years ago. There are issues in Korea that require national participation. For instance, saving energy through greater utilization of public transportation can possibly assist in stabilizing exchange rates by creating less demand for commodities like oil. Other things that can be done to speed our economic recovery are simple things like buying domestic products and decreasing overseas trips. If we are successful in doing things like these, it may be possible to check the drain on our foreign exchange reserve.
 In all, from now on all economic entities including the government, business, and home management have to unify and find ways to minimize the damage. We must show our unity by finding compromises. Counter to conventional wisdom, now is a good time to improve our circumstances not despair over them.

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