Koo Yoon-chul: "Heightened Vigilance Over Increased Financial and FX Market Volatility, Consumer Price Concerns"

Deputy Prime Minister and Minister of Strategy and Finance Koo Yun-cheol is delivering remarks at the "Emergency Economic Headquarters Meeting and Economic Relations Ministers Meeting" held on the 5th at the Government Seoul Office in Jongno-gu, Seoul. Ministry of Strategy and Finance

Deputy Prime Minister and Minister of Strategy and Finance Koo Yun-cheol stated on the 5th, "We are responding with heightened vigilance to the increasing volatility in the financial and foreign exchange markets, as well as the ongoing difficulties in household prices."

Deputy Prime Minister Koo made these remarks during the "Emergency Economic Headquarters Meeting and Economic Relations Ministers Meeting" he chaired at the Government Seoul Office this morning. He pointed out that, despite strong external indicators—such as a current account surplus of 28.29 billion dollars in April and a record cumulative surplus from January to April—market volatility remains significant.

He added, "While we will continue to provide robust support for the people's livelihoods, we will also embark in earnest on structural reforms aimed at a major leap forward for the economy."

Deputy Prime Minister Koo noted, "Despite challenging circumstances such as the war in the Middle East, visible results are emerging, including a recovery in economic growth, thanks to joint efforts by the public, businesses, and the government." He cited as an example the recent upward revision by the Organisation for Economic Co-operation and Development (OECD) of Korea's economic growth forecast for this year from 1.7% to 2.6%.

During the meeting, agenda items discussed included the response to the war in the Middle East, a comprehensive safety management plan for the agriculture and forestry sector, and measures to expedite the launch of the 7th Regional Revitalization Investment Fund project.

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