Choi Sang-mok "All capabilities...Managing the economy as stable as possible"

Deputy Prime Minister for Economy Choi Sang-mok held his first emergency meeting of economy-related ministers since the National Assembly passed the impeachment motion, and stressed that the government's economic team will mobilize all the capabilities of the public and private sectors to manage our economy as stably as possible.

Deputy Prime Minister Choi said that the rapid volatility of the financial and foreign exchange markets has subsided for now amid growing uncertainties at home and abroad surrounding the Korean economy due to the recent domestic political situation and the launch of a new government in the U.S.

At the same time, he said he would firmly protect foreign credibility first.

It said it would launch a pan-governmental ombudsman TF, which provides one-stop solutions to foreign investors' difficulties, and dramatically strengthen incentives for foreign investment.

It added that it will continue to monitor real-time financial and foreign exchange markets and respond quickly to stabilize the market through emergency macroeconomic and financial meetings.

Regarding the launch of the second Trump administration, he said he would hold regular meetings with foreign ministers with economic and diplomatic ministries to check economic cooperation, trade issues and supply chain stability and respond immediately in response to uncertainties in the trade environment.

In addition, to further strengthen policy efforts to stabilize people's livelihoods, the government will quickly finalize next year's budget, including allocation before the start of the fiscal year, so that next year's budget, which passed the National Assembly, will be immediately implemented from New Year's Day.

The government has decided to jointly announce the economic policy direction for 2025, which embodies these four policy directions, by the end of this year.

Deputy Prime Minister Choi said that he would actively communicate with the National Assembly to seek stable management of our economy together, and that he would communicate more closely with the National Assembly.

Choi said the Korean economy is once again tested and has the potential to overcome more difficult situations in the past, so if the people and businesses continue their economic activities as usual, they can overcome difficulties once again.