Deputy Prime Minister Choi Sang-mok: "The Korean Won is Moving Excessively Beyond Its Fundamentals"

Deputy Prime Minister Choi Sang-mok to Appear on CNBC Broadcast on the 19th (Local Time)

Choi Sang-mok, Deputy Prime Minister for Economic Affairs and Minister of Strategy and Finance, appeared on CNBC on the 19th (local time) and said, "The Korean won is moving excessively beyond economic fundamentals."

Choi, who is visiting Washington, USA to attend the G20 Finance Ministers and Central Bank Governors Meeting, made these remarks during his appearance on CNBC on the 19th (local time).

He stated, "In the foreign exchange market, especially in the case of the Korean won, there are excessive movements beyond economic fundamentals," and added, "The first-ever trilateral finance ministers' meeting among Korea, the US, and Japan was held, and one of the most important agendas among the three countries is to work together to stabilize the financial markets."

Regarding the criticism that the opposition's victory in the April 10 general election has made it difficult to push forward the government's economic policies, he said, "We plan to continue advancing the economic agenda as we have been doing."

Choi noted, "The recent election results are similar to the number of seats held by political parties before the election," explaining, "This means that a situation similar to before will continue." He added, "The recent election was to elect members of the National Assembly, and Korea adopts a presidential system, with the president's term still having three years remaining."