Emergency martial law 'post-storm'...Concerns over external creditworthiness

Emergency Economic Ministers' Meeting..."Unlimited liquidity supply"

"Best for solving economic issues under any circumstances"

"Especially emphasis on maintaining external credibility"

[Anchor]
The emergency martial law has been lifted, but uncertainty surrounding our economy seems to be growing, with financial markets fluctuating.

There are also concerns that the external credibility of our economy could be hurt by political instability.

Reporter Oh In-seok on the report.

[Reporter]
In the wake of the unexpected declaration and lifting of emergency martial law, the heads of financial authorities held emergency meetings and focused on quelling market instability with unlimited liquidity.

We will do our best to resolve economic issues so that it does not affect our economy, business activities, and the lives of the people in any situation.

Above all, we decided to focus on maintaining external credibility.

[Choi Sang-mok / Deputy Prime Minister and Minister of Strategy and Finance: To alleviate concerns about our economic situation, we will closely share the situation with international credit rating agencies, economic lines in major countries such as the United States, domestic economic organizations, and financial markets.]

Standard & Poor's, an international credit rating agency, said the incident was unexpected and could have a negative impact on investor decisions in the future, but at the moment, there is no reason to change the country's current credit rating.

The government decided to operate a 24-hour TF to monitor real-time economic movements.

However, it is unclear whether uncertainty will increase due to political instability and whether it will be able to quell market turmoil.

As the sudden declaration and lifting of martial law can be interpreted as extreme unrest in Korean politics and society in the global market, there are concerns that the impact on the external credibility of the Korean economy is inevitable.

The aftermath of martial law could be a significant burden on our economy, which has been in trouble due to prolonged sluggish domestic demand, massive tax deficits, and the launch of the Trump administration.

[Jungsik Kim / Honorary Professor of Economics at Yonsei University: The martial law is lifted and the current account surplus is large, so I don't think it will have a big impact on international credibility, but if political turmoil intensifies in the future, it could have a negative impact on international credibility.]

It is pointed out that a quick and close response is needed to calm market jitters and find a stable economic growth trajectory amid turbulent internal and external conditions.

This is YTN Oh In-seok.

Reporter for filming
: Ko Min-cheol
Video editing: Jung Kook-yoon