Choi Sang-mok "No Significant Impact on National Credit Rating... Active Participation of Ruling, Opposition, and Government Economic Consultative Bodies"

"Faithful Execution of Budget... Utilizing All Available Means"

Choi Sang-mok, Deputy Prime Minister for Economy and Minister of Strategy and Finance, stated on the 11th during an emergency issue question session related to martial law held at the National Assembly that the martial law did not significantly affect the country's credit rating, and expressed his intention to actively participate in the ruling-opposition-government consultative body proposed by the opposition party.

Prime Minister Han Duck-soo and Deputy Prime Minister and Minister of Economy and Finance Choi Sang-mok are greeting during the 'Emergency Urgent Question on President Yoon Suk-yeol's Unconstitutional Declaration of Martial Law and Acts of Rebellion' held at the National Assembly plenary session on the 11th. Photo by Kim Hyun-min

Deputy Prime Minister Choi made these remarks during an issue question led by Choi Hyung-doo, a member of the People Power Party, saying, "The martial law situation ended in a short period because the members of the National Assembly resolved to lift the martial law, which the world is closely watching."

In response to Choi's question about what is most necessary to secure the national credit rating, he said, "Even amid past political changes, the economic system has been firmly maintained," adding, "At the center of that were the people and the National Assembly. Although it is regrettable that the ruling and opposition parties did not reach an agreement on the budget yesterday, I believe that the passage of the budget and related tax laws in the National Assembly is one pillar of that." The opposition party had unilaterally passed a bill reducing the government budget by 4.1 trillion won the day before.

Deputy Prime Minister Choi emphasized, "The opposition party proposed a ruling-opposition-government consultative body related to the economy, and the government has expressed its willingness to actively participate," adding, "I believe it is important for the country's credit rating to externally demonstrate that our economic system itself is solid."

When asked about his stance on the budget bill unilaterally passed by the opposition party the previous day, he explained, "Since the budget bill has been processed, I think it is important to execute the budget most faithfully," adding, "The budget includes measures for stabilizing people's livelihoods and responding to the expansion of external uncertainties. We will promptly execute the budget and make full use of all available means, such as public enterprise investments and policy financing."