Deputy Prime Minister Choi Sang-mok Emphasizes Importance of External Credibility

Deputy Prime Minister and Minister of Economy and Finance Choi Sang-mok convened an expanded executive meeting at the Government Complex Seoul on December 9. The meeting, attended by key officials including the first and second vice ministers of the Ministry of Economy and Finance (MOEF) and directors of various bureaus and departments, focused on the critical issue of managing South Korea's external credibility amidst ongoing economic challenges.

"Managing external credibility is more important than ever," Choi emphasized during the meeting. He underscored the urgency of implementing measures to maintain the confidence of foreign investors and international organizations in South Korea's economic policies and financial stability. "We will swiftly implement measures to manage external credibility," he stated, highlighting the government's commitment to addressing this priority.

Choi also called on MOEF employees to enhance their vigilance over financial and foreign exchange markets, as well as real economy trends. "Strengthen the monitoring of financial, foreign exchange markets, and real economy trends to ensure stable economic activities for the public and businesses, and respond swiftly to any detected risk factors," he urged. This directive aims to ensure that the ministry can promptly address any emerging threats to economic stability.

In addition to discussing external credibility, Choi reviewed the year-end and New Year work progress of each bureau. This review included the 2024 economic policy direction and measures to enhance industrial competitiveness. "During difficult times, the MOEF must take the lead," Choi asserted, emphasizing the ministry's pivotal role in navigating economic challenges. He further encouraged public officials to remain diligent in their duties, regardless of the situation, stating, "Public officials must diligently carry out their assigned duties regardless of the situation."