President Yoon Seok-yeol said today (30th) in relation to the spread of financial market unrest, "From the government, we will take necessary and timely measures according to the prepared emergency plan with more tension."
President Yoon presided over the 3rd macro-financial situation inspection meeting this morning at the Myeong-dong Bank Federation Hall and said, "In order for the market and the public to feel at ease, the economics team operates a 24-hour domestic and foreign economic situation inspection system led by the Deputy Prime Minister for the economy to ensure that there is no gap. Please respond without any help,” he said.
President Yoon said, "The volatility of the Korean financial and foreign exchange markets has increased due to the influence of an unprecedented strong dollar, and there are concerns about a slowdown in the real economy due to interest rate hikes and market instability around the world." We have taken some market stabilization measures, but it is time to respond with more tension.”
He added, "The extent of the impact of a crisis initiated by external factors will depend on how we respond internally."
President Yoon also said, "We should use this crisis as an opportunity to improve the constitution of our economy with a focus on the private sector and the market."
“As our economy repeats difficulties whenever energy prices soar, it is necessary to transform our industry into a low-energy, high-efficiency structure,” he said.
At today's meeting, President Yoon closely reviewed the domestic and international economic and financial market conditions in consideration of the fact that domestic and foreign market volatility has increased due to recent policy rate hikes in major countries including the United States and the decline in the value of major currencies such as the yen and pound sterling. reported from
Today's meeting was attended by Deputy Prime Minister Choo Kyung-ho, Financial Services Commission Chairman Kim Joo-hyeon, Chief Economic Officer Choi Sang-mok, and officials from the Bank of Korea, Samsung Electronics, SK, Hyundai Motor, LG Electronics, ING Bank, and KB Securities.
After the Bank of Korea's international financial market trend briefing, discussions were held on the situation of the domestic financial and foreign exchange markets, as well as the market evaluation and response status of domestic companies.
(Photo=Presidential Office Correspondent Photo Reporters, Yonhap News)