Choi Sang-mok said, "A significant impact on the realization of Trump's policy stance...close cooperation"

Regarding the outcome of the U.S. presidential election, Deputy Prime Minister and Minister of Strategy and Finance Choi Sang-mok said he would work closely to ensure economic cooperation between the two countries remains like a solid rock.

Deputy Prime Minister Choi said in his remarks at the "Economic Relations Ministers' Meeting and Foreign Economic Ministers' Meeting" held at the Seoul Government Complex this morning (7th), "Although major changes are expected in our external economic conditions, the two countries have maintained mutually beneficial economic cooperation for decades under the strong stance of the Korea-U.S. alliance."

At the same time, if the policy stance that U.S. President-elect Trump has emphasized becomes a reality, the impact on our economy is expected to be significant, and the government said it will take a preemptive and shrewd response with a meeting of economic ministers as a pan-government control tower.

In particular, it announced that it would operate separate conferences in each of the three major areas: the financial and foreign exchange markets, trade, and industry.

Regarding the financial and foreign exchange markets, Deputy Prime Minister Choi said, "The volatility of domestic and foreign financial markets has increased," adding, "We will watch closely with special tension as uncertainties are expected due to the formation of new governments and parliaments in the U.S. and meetings of the Federal Open Market Committee."

Regarding excessive market volatility, he added that appropriate measures will be taken in accordance with the step-by-step response plan.

Regarding trade policy, he said he would prepare a response plan for each issue and continue active communication by operating a bilateral cooperation channel, listening to the voices of the industry, embodying the response strategy and minimizing the negative impact on our companies.