Government: "Concerns of Foreign Companies and Investors Are Temporary... Minimizing Negative Impact on Business Activities"

Ministry of Economy and Finance, Ministry of Foreign Affairs, and Ministry of Trade, Industry and Energy Hold Level 1 Meeting

On the 5th, the Ministry of Economy and Finance, the Ministry of Foreign Affairs, and the Ministry of Trade, Industry and Energy held a first-level meeting of external relations ministries at the Government Seoul Office to discuss the economic impact and response directions according to recent domestic and international situations. Attending the meeting were Choi Ji-young, Director General for International Economic Affairs at the Ministry of Economy and Finance, Kim Hee-sang, Economic Diplomacy Coordinator at the Ministry of Foreign Affairs, and Park Jong-won, Deputy Minister for Trade at the Ministry of Trade, Industry and Energy.

Choi Ji-young, Director General of International Economic Management at the Ministry of Economy and Finance (third from the left), is delivering opening remarks while presiding over the "First-Level Meeting to Review Domestic and International Situations and Discuss Response Directions" held at the Government Seoul Office Building on the 5th. Photo by the Ministry of Economy and Finance

The participants shared major countries' responses to the domestic situation and trends in the foreign exchange and financial markets. They anticipated that concerns from foreign companies and investors would be temporary due to the government's market stabilization measures. Furthermore, they agreed to promote policies without domestic instability through inter-ministerial cooperation, minimizing negative impacts on the economic activities of Korean companies.

The government plans to continue communication among the government, companies, and investors by utilizing available channels such as diplomatic missions to prevent unnecessary misunderstandings in the domestic economy and financial markets. Additionally, it will respond systematically to ensure that changes in the external environment following the inauguration of the new U.S. administration do not lead to increased market concerns and volatility amid domestic uncertainties.

The government stated, "We will prepare management plans for current issues and manage them meticulously and systematically, centered on first-level meetings of related ministries."