Choi Sang-mok on Middle East crisis "high alert...Respond quickly through collaboration"

Regarding the all-out war crisis in the Middle East, Deputy Prime Minister and Minister of Strategy and Finance Choi Sang-mok emphasized that he would closely examine the impact of the financial market and the real economy with high vigilance and respond quickly under the cooperation of related agencies if necessary.

"Iran's missile attack on Israel early this morning has heightened tensions in the Middle East and increased volatility in global stock markets and international oil prices," Choi said at a meeting of economy-related ministers at the Seoul Government Complex today.

Officials from the International Financial Center attended today's economy-related ministers' meeting without schedule to report global stock market movements due to rising tensions in the Middle East.

In the face of a slow recovery in domestic demand, the government said at today's meeting that it will launch a ministerial meeting to boost investment, discussing ways to accelerate investment recovery, and also pushing ahead with three major projects to boost construction investment.

The government will compensate for sluggish construction orders by boosting public and private investment, manage construction costs at around 2% per year, and strengthen incentives to resolve unsold apartments in the provinces.