Choi Sang-mok said, "Converging the capacity of the public and private sector, managing the economy in a stable manner..."Kyungbang announcement by the end of this year"

[Anchor]
Korea will be inaugurated by the Trump administration on the 20th of next month under the acting president system.

Deputy Prime Minister for Economy Choi Sang-mok said he will manage the economy as stable as possible by consolidating all the capabilities of the public and private sectors.

He also said he would announce the economic policy direction for next year, which was likely to be delayed by the end of this year.

Reporter Lee Seung Eun! Please deliver the message of Deputy Prime Minister Choi Sang-mok.

[Reporter]
Deputy Prime Minister for Economy Choi Sang-mok has been holding an emergency meeting of economy-related ministers and a meeting of foreign-related ministers covering economy, trade and diplomacy since around 3 p.m.

It will then hold a meeting on macroeconomic and financial issues with Bank of Korea Governor Lee Chang-yong, the Financial Services Commission, and the Financial Supervisory Service head, and the so-called F4.

Deputy Prime Minister Choi diagnosed that the rapid volatility of the financial foreign exchange market has subsided for now, but we cannot rest assured, and there is a risk that the sentiment of foreign-invested companies will shrink.

At the same time, he said he would manage the economy as stable as possible by consolidating all the capabilities of the public and private sectors.

Deputy Prime Minister Choi first mentioned maintaining external credibility.

He held a briefing session on the Korean economy and said he would dramatically strengthen the incentives for foreign investment.

He said he would hold regular meetings with foreign ministers to establish a comprehensive response strategy.

It said it will also engage the private sector's foreign cooperation capabilities as much as possible.

The Ministerial Meeting on Strengthening Industrial Competitiveness will also be expanded and reorganized into a joint meeting between the public and private sectors, and measures to secure competitiveness in semiconductors, air shipping, logistics, petrochemicals, and construction will be prepared.

It also said it would soon announce a quick implementation plan for the first half of next year, mobilizing all available resources such as measures for the vulnerable and finance, public institutions and private investment.

Let's listen to Deputy Prime Minister Choi's remarks.

[Choi Sang-mok / Deputy Prime Minister and Minister of Strategy and Finance: We will jointly announce the economic policy direction for 2025 by the end of this year. As this is a very important time that will determine the direction of our economy, we will communicate more closely with the National Assembly. We will carefully explain the voices of the industry to the National Assembly so that bills that will determine the future fate of our industry, such as the Special Act on Semiconductors, the Basic Act on AI, and the Special Act on the Power grid, can be processed as much as possible within the year.

Compared to the situation during the impeachment of the Park Geun Hye in 2016, economic conditions were rebounding because they were in the early stages of the semiconductor cycle, but now export growth is slowing and consumption indicators are the longest decline ever.

In addition, currency instability threatens domestic demand.

In particular, the Bank of Korea said that uncertainties in the trade environment have increased, unlike in the past impeachment.

Therefore, he stressed that it is important to show confidence that major economic policies such as the supplementary budget are operated by the ruling and opposition parties' agreement, saying that prolonged political conflicts could expand the economic negative impact.

I'm Lee Seung Eun of YTN.