Hong Nam-ki: "This Year is the 'Year of New Northern Cooperation'... Achieving Substantial Results" (Update)

Hong Nam-ki, Deputy Prime Minister for Economy and Minister of Economy and Finance Photo by Yonhap News

[Asia Economy Reporter Kwangho Lee] Deputy Prime Minister and Minister of Strategy and Finance Hong Nam-ki stated on the 20th, "We will prioritize advancing the New Northern Policy to open a new horizon for economic cooperation with New Northern countries."

On the same day, Deputy Prime Minister Hong held the 210th Foreign Economic Ministers' Meeting at the Government Complex Sejong and said, "We will strengthen economic cooperation with northern countries so that this year becomes the first year of tangible achievements of the New Northern Policy."

He added, "The President designated this year as the 'Year of New Northern Cooperation' and requested that the New Northern Policy be promoted to yield substantial results."

Deputy Prime Minister Hong also emphasized, "We will strive to fully conclude the Regional Comprehensive Economic Partnership (RCEP) within this year, as well as finalize bilateral free trade agreement (FTA) negotiations such as Korea-Philippines and Korea-Russia service and investment agreements."

Regarding exports, Hong mentioned, "Through full support including the provision of 240.5 trillion won in export financing, we will definitely achieve a rebound in exports."