Choi Sang-mok "Awareness of Market Concerns that the won moves relatively fast"

Deputy Prime Minister and Minister of Strategy and Finance Choi Sang-mok noted that authorities are also aware of market concerns that the won's weakness is relatively steep, Bloomberg said.

Choi, who is visiting Washington, D.C., to attend a meeting of finance ministers from 20 major countries, said in an interview with Bloomberg.

Choi said he was well aware of market concerns that the won was moving relatively fast compared to other currencies, adding that he would be wary of currency volatility and closely monitor market trends.

Choi suggested the turmoil in global financial markets could intensify due to the strong dollar phenomenon or increased volatility, adding that multinational stabilization efforts could be needed.

Regarding the U.S. presidential election next month, Deputy Prime Minister Choi expressed his willingness to cooperate regardless of the outcome.

Choi said no matter which candidate he is, South Korea and the United States will continue mutual investment and cooperation as final economic and security partners, which will be a win-win for both countries.

Regarding Trump's pledge to raise tariffs, he replied, "I think it is most desirable for South Korea for global trade to go to a norm-based free trade stance."