Seoul: Finance Minister Choi Sang-mok stated on Thursday that a second Donald Trump presidency is anticipated to significantly affect the South Korean economy. He assured that the government is prepared to respond swiftly to major policy changes and potential market volatility. These remarks were made during a meeting of economy-related ministers in Seoul, following Donald Trump's victory in the U.S. presidential election on Wednesday, marking his return to the White House.According to Yonhap News Agency, Choi emphasized that if Trump's policy stance is enacted, it could have a substantial impact on South Korea's economy. He assured that the government is poised to respond proactively and thoroughly. The government intends to enhance policy consultations among relevant organizations to engage in in-depth discussions on financial and foreign exchange markets, trade, and industry.Choi highlighted that Seoul will utilize its cooperation channels with the U.S. for active consultations regarding trade and will devise responses to major trade issues. In response to the evolving circumstances, the government is committed to supporting South Korean companies in their endeavors to enhance competitiveness and boost investment in sectors such as artificial intelligence, quantum, and bio industries.The finance minister noted the increased volatility in the financial markets both domestically and internationally during the U.S. election period, and he cautioned that uncertainties are anticipated to persist for the foreseeable future. "The government will be on extra alert and closely monitor the market," Choi stated. He assured that in the event of excessive market volatility, appropriate measures will be taken following established contingency plans.
- October 12, 2026
