Deputy Prime Minister's Urgent Letter to Major Countries: "Korea's National System Operating Normally"

Deputy Prime Minister and Minister of Economy and Finance Choi Sang-mok is leaving without answering reporters' questions after finishing a joint briefing with related ministers at an emergency economic ministers' meeting at the Government Seoul Office in Jongno-gu, Seoul, on the 4th. Photo by Jo Yong-jun

The government sent an urgent letter on the 4th to major countries and overseas investors, stating that all national systems in Korea are operating normally.

The Ministry of Economy and Finance announced that on the same day, Choi Sang-mok, Deputy Prime Minister for Economy and Minister of Economy and Finance, sent an urgent letter to finance ministers of various countries, heads of major international organizations, global credit rating agencies, financial institutions, and investors, explaining the current situation in Korea following the declaration and lifting of martial law, and emphasizing the Korean government's commitment to stable economic policy management.

In the letter, Deputy Prime Minister Choi explained, "All measures related to the martial law were lifted based on the Constitution and relevant laws, following the National Assembly's request for lifting the martial law and deliberation by the State Council," and added, "All national systems, including Korea's political and economic systems, are operating normally as before."

He particularly emphasized, "The confusion caused by non-economic factors is being effectively controlled by a sound economic system, and the rapid stabilization of the financial and foreign exchange markets proves that this economic turmoil will not be prolonged."

Furthermore, he stated, "We will do our best to operate economic policies stably through cooperation among relevant ministries while minimizing negative impacts on economic activities such as exports," and promised, "We will communicate transparently about the Korean economic situation." The government added that it plans to continue taking necessary measures to maintain the international community's confidence in the Korean economy.