Korean Economic Fundamentals Explained...Preparation for next year's economic policy direction
To maintain foreign credibility...'Stable System' Important
Acting acting...economic hit amplification
As the impeachment bill against Acting President Han Deok-soo passed, Deputy Prime Minister for Economy Choi Sang-mok became the acting president.
As seen in the surge in the exchange rate, concerns are growing over whether the deputy prime minister for economic affairs will be able to physically handle foreign and security issues as well as concerns over a fall in foreign credibility.
Reporter Lee Ji-eun reports.
[Reporter]
Since the night of the 3rd, when emergency martial law was declared, Deputy Prime Minister Choi Sang-mok has held an emergency macroeconomic and financial issues meeting every morning to send a message to respond to the financial and foreign exchange markets.
We are also preparing to announce economic policy directions for next year by contacting international credit rating agencies and explaining the basic fundamentals of the Korean economy.
This is because it is important to show that the economic system is running unchanged in order to maintain external credibility.
However, the realization of the acting system is amplifying the economic impact of the political problem, as seen by the soaring exchange rate.
[Choi Sang-mok / Acting President and Deputy Prime Minister and Minister of Strategy and Finance: The impeachment of the acting president is no different from the impeachment of the entire cabinet. If the impeachment motion is passed, the continued risk of impeachment will diminish the administration's capacity and eventually eliminate the reason for the existence of members of the State Council.]
There is also a question of whether Deputy Prime Minister Choi can physically handle the three roles of president, prime minister, and economic head coach.
We need to take care of diplomacy, defense, security, and security that we have never experienced.
In addition, there are concerns that if we have to make political judgments such as consultations between the ruling and opposition parties, we may lose our concentration on economic issues as a result.
[Kim Kwang-seok / Hanyang University Adjunct Professor: We need to think about countermeasures in the Trump 2.0 era, but wouldn't it be a limitation in preparing such policies in a timely manner?]. If negative investors' views on what external risks the Korean government will be able to actively respond to are more focused, the strong dollar phenomenon may continue and foreign funds may leave...]
Deputy Prime Minister Choi noted that many people say that the acting role of the acting president is very limited.
It is also interpreted as a sign that it will not push ahead with the appointment of a constitutional judge, which was the main reason for the impeachment of Han Deok-soo.
I'm YTN's Lee Ji Eun.
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