As works get underway to set up a transition team to help facilitate the shift of power, the new government faces the daunting challenge of keeping economic growth on track despite waning demand at home and uncertainties abroad. Economic experts say President-elect Roh Moo-hyun and his administration should first solidify household economies when he is sworn in.

The point to the nation's swelling household debt reaching W400 trillion, or roughly US$332 billion, and the number of credit delinquents at over three million. Roh must also put finishing touches to several unresolved businesses, including the government's controlling stake sale in Chohung Bank, which failed to pull through due to differences over terms of sale with the bidders, coupled with the pending sale of Hynix Semiconductor amid a disagreement among creditors over the government-led debt rescheduling plan.

The pending sale of Hyundai Investment and Securities is another task at hand.

Sources say the president-elect understands the urgency of these matters and cite Roh's remark that he would try to retrieve public funds as soon as possible, to suggest a quick resolution to the three ordeals. In addition to these tasks, the new government has to decide by next March how far Korea is willing to go in opening up the agricultural and service sectors as demanded by the Doha Development Agenda.

(Arirang TV)