Choi Sang-mok, Acting President and Deputy Prime Minister as well as Minister of Economy and Finance, said on the 3rd, "The financial sector should also make every effort to strengthen crisis response capabilities, such as expanding reserves, and calmly respond to market conditions by making investment decisions that help enhance national and industrial competitiveness from a more long-term perspective."
Kim Beom-seok, First Vice Minister of Economy and Finance, read Acting President Choi's New Year's address at the '2025 Pan-Financial New Year Meeting' held at Lotte Hotel in Seoul that afternoon.
In his New Year's address, Acting President Choi said, "The current domestic and international uncertainties are difficult to respond to with government efforts alone," and made this request. He stated, "We will support the economy by expanding policy finance supply to 611 trillion won and support the real economy through low-interest loans for semiconductors at the 2% level," and added, "We will make every effort to support livelihood finance, including supplying 11 trillion won, the largest ever, in policy finance for the underprivileged."
He also urged, "Please implement the win-win financial support plan worth 600 billion to 700 billion won annually, prepared by the banking sector last month, as soon as possible to support small business owners facing difficulties."
Acting President Choi said, "Above all, we will do our utmost to ensure that there is not a single tremor in our external credibility," and added, "We will monitor the financial and foreign exchange markets 24 hours a day, and if volatility expands, we will take bold and swift market stabilization measures."
He continued, "We will raise foreigners' access to foreign exchange transactions to a global standard level, completely overhaul the government bond investment infrastructure, and prepare without fail for inclusion in the World Government Bond Index (WGBI)," and stated, "We will also continue to promote tax support for value-up and amend the Capital Market Act to improve corporate governance."
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