Seoul: Acting President Choi Sang-mok on Friday emphasized the necessity for ongoing vigilance over South Korea's financial and foreign exchange markets, highlighting increased uncertainty just before Donald Trump's inauguration.
According to Yonhap News Agency, the U.S. president-elect is poised to commence his second presidential term on Monday (U.S. time), prompting concerns about potential global protectionism and its implications for South Korea's export-reliant economy.
Choi urged all relevant institutions to closely observe U.S. policy shifts under the incoming administration and global financial market trends. He stressed the importance of stabilizing the financial and foreign exchange markets during an economic meeting that included the Bank of Korea governor and leaders from the Financial Services Commission and the Financial Supervisory Service.
Choi also highlighted the crucial role of diplomatic efforts in maintaining South Korea's credibility in international markets. He encouraged institutions to actively communicate the country's strong economic fundamentals to the global community.
As deputy prime minister for economic affairs and finance minister, Choi announced plans to hold weekly meetings with top economic officials to evaluate the situation amid political unrest following President Yoon Suk Yeol's brief imposition of martial law and his subsequent impeachment last month.