Economic and Industrial Competitiveness Ministers' Meeting Held on the 9th
Deputy Prime Minister and Minister of Economy and Finance Choi Sang-mok stated on the 9th, "In response to the unprecedented tariff storm, we will swiftly implement bold support measures suitable for this emergency situation."
Choi Sang-mok, Deputy Prime Minister for Economic Affairs and Minister of Economy and Finance, is attending and speaking at the Economic Ministers' Meeting and the Industrial Competitiveness Enhancement Ministers' Meeting held at the Government Seoul Office in Jongno, Seoul on the 9th. 2025.4.9 Photo by Jo Yong-jun
On the same day, Minister Choi presided over the 'Economic Ministers' Meeting and the 'Industrial Competitiveness Enhancement Ministers' Meeting' at the Government Seoul Office Complex and made these remarks. He said, "Dark clouds are gathering over our economy, which is facing structural difficulties such as intensified global industrial and technological competition and delayed domestic demand recovery," adding, "As companies' exports and production shrink, concerns are growing that the difficulties of our economy will worsen."
Minister Choi also said, "The U.S. government is imposing reciprocal tariffs on countries worldwide, and major countries such as China and the European Union (EU) have announced retaliatory tariffs," emphasizing, "As companies' exports and production shrink, concerns are growing that the difficulties of our economy will worsen." He particularly noted that due to the impact of tariffs, employment stagnation may deepen, especially in export-driven industries such as manufacturing.
Minister Choi stated, "We will swiftly implement bold support measures suitable for this emergency situation," and added, "To this end, we will soon announce an essential supplementary budget plan worth 10 trillion won, including measures to respond to the trade environment and support for strengthening industrial competitiveness."
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