Finance chief vows preemptive responses to looming 'massive external changes'


Finance Minister Choi Sang-mok emphasized the need for proactive and preemptive measures to safeguard South Korean exports against potential significant external changes during a meeting of ministers in Seoul. With a focus on maintaining the country's economic recovery momentum, Choi cautioned against the impact of mounting geopolitical tensions and supply chain risks, stressing the necessity of vigilance in the face of deepening global economic bloc divisions. To bolster growth, the government aims to expand trade networks by strengthening ties with key nations in the Indo-Pacific region and resource-rich emerging countries. Additionally, the ministry seeks to enhance collaboration with major partner nations to support South Korean companies in securing competitive advantages for large-scale projects overseas, such as the Neom smart city project in Saudi Arabia. The economic policy will also prioritize the swift implementation of joint ventures related to major minerals, energy, and infrastructure with Central Asian and African nations. Overall, Minister Choi Sang-mok's call for proactive measures and strategic international partnerships reflects the government's commitment to safeguarding South Korea's economic interests amidst evolving global economic dynamics and geopolitical challenges.


Previous Post Next Post