[On-Site Video+] "Possible to strengthen protectionism under the Trump administration... "All-out response from the government and the government."

[Anchor]
The power of the government and the people held a high-level party council for emergency economic stability.

With the launch of Trump's second term, it will check trade issues and financial market trends. Measures to reduce economic turmoil amid the impeachment are expected to have been discussed, including measures to revitalize the domestic economy.

Connect to the results briefing site.

[Kim Sang Hoon / Chairman of the People's Power Policy Committee]
As the IRA's purchase of electric vehicles and tax credits are currently being considered to be abolished, and the new Trump administration's protectionism is likely to be strengthened by expressing tariffs if U.S. energy imports are not expanded on the EU, the ruling party and the government have decided to work together to minimize the impact on our economy in preparation for the Trump Mutual Tariff Act being enacted within 100 days of Trump's inauguration.

The government plans to hold weekly meetings on pending foreign economic issues, prepare strategies for each issue such as universal tariffs and IRA, and develop a willingness to cooperate with the Korea-U.S. shipbuilding cooperation package. During his visit to the U.S. this week, the Minister of Trade, Industry and Energy will meet with key U.S. government and congressional figures and actively preach the need to promote industrial cooperation between South Korea and the U.S. and our contribution to investment in the U.S. and will actively promote international credibility by appointing ambassadors for international financial cooperation and investment cooperation.

As the new Trump administration's protectionist measures are expected to spark global protectionist trade and intensify competition in the global market, the government will expand and reorganize the Trade Commission, operate a 10 trillion won supply chain fund, preemptively respond to vulnerable items in China's supply chain, accelerate trade cooperation with promising emerging economies such as the United Arab Emirates and Guatemala, and establish key mineral cooperation partnerships with Tanzania and Chile.

With the inauguration of the 47th U.S. President, the People's Power will do its best to strengthen the Korea-U.S. cooperative relationship and actively participate in the activities of the U.S. delegation at the level of the National Assembly's Foreign Affairs and Unification Committee. The following is related to recent financial market trends and countermeasures. First of all, the stock market has expanded volatility due to domestic political factors and the U.S. Fed's FOMC, but recently, the 2,400-point level has been recovering to the pre-emergency level and 2,500-point level as it acts as a strong psychological barrier in terms of the KOSPI. By industry, semiconductors have succeeded in rebounding and heavy industries such as shipbuilding and defense are on the rise. The bond market has also expanded somewhat, but it is expected to stabilize when institutional fund execution begins at the beginning of the year.

In the foreign exchange market, although the dollar is strong worldwide, the won-dollar exchange rate is expected to be limited from the end of the year, and the market will remain stable in January and February, when major events such as the announcement of preliminary fourth-quarter earnings of major companies and the launch of the new Trump administration are concentrated, and efforts will be made to stabilize the bond short-term fund market while operating meetings such as F4.

At the National Assembly level, the government agreed on the need to expedite legislation, including the Special Act on Semiconductors, the support of value-up tax systems, and the revision of the Capital Market Act, and decided to actively explain the fundamentals of the Korean economy and the government's efforts to respond to credit rating agencies, foreign governments, foreign financial companies, and domestic and foreign investors through a briefing session on the Korean economy. As Kwon Young-se, chairman of the emergency committee, said, it has been suggested to the government that January 27, 2025 be designated as a temporary holiday for the Lunar New Year holiday. The ruling party and the government agreed to designate January 27, 2025 as a temporary holiday to boost the domestic economy and promote tourism during the Lunar New Year holiday.

In the past, the Hyundai Economic Research Institute analyzed the impact of 4.2 trillion won in production inducements and value-added inducements in the economy as a whole through an economic ripple effect report on the designation of temporary holidays. The government and the ruling party expect a positive effect on boosting the domestic economy and revitalizing tourism, and we believe that it will play a role in improving the quality of life by expanding opportunities for rest to the people. In addition, we expect various effects such as the effect of distributing traffic due to the expansion of the holiday holiday period. We hope that the designation of a temporary holiday on January 27th will make it warmer and more relaxed, and we promise to take a careful look at the benefits of the designation of a temporary holiday so that no people are required from it. That's about it. Do you have any questions?