Choi Sang-mok "Sustainability of external uncertainty for the time being...Ensure risk management"

Deputy Prime Minister and Minister of Strategy and Finance Choi Sang-mok said the 24-hour joint inspection system of related agencies, which was operated around the situation in the Middle East, will be expanded to the financial and foreign exchange markets, and if volatility expands too much, we will respond in a timely manner according to the situation-specific response plan.

Deputy Prime Minister Choi held a "Joint Macroeconomic Finance Meeting of Related Institutions" this morning (8th) and said that short-term interest rates such as stock prices, bond rates, corporate bills, and transferable deposit certificates remain relatively stable, but external uncertainties may continue for the time being.

At the same time, the government emphasized that it would do its best to manage risks with close cooperation from related agencies with special awareness.

Deputy Prime Minister Choi said he will also accelerate efforts for sustainable growth of the Korean economy amid changes in the external environment, such as the launch of a new U.S. government and monetary policy, and prepare a situation-specific plan for major trade issues and launch an "Industrial Competitiveness Reinforcement Related Ministers' Meeting" in November.

The Federal Reserve's additional interest rate cut of 0.25 percentage points last night was said to have been accepted as expected by financial markets.

The meeting was attended by Bank of Korea Governor Lee Chang-yong, Financial Services Commission Chairman Kim Byung-hwan, and Financial Supervisory Service Director Lee Bok-hyun.