The South Korean economy is solid, and the government will take “bold and swift’’ actions if needed to stabilize Asia’s fourth-largest economy, Korea’s Finance Minister Choi Sang-mok reiterated on Sunday.“The Republic of Korea’s economic system remains resilient, and the government’s emergency response plans are working well,” Choi said in a press conference on Sunday afternoon following the ministry’s emergency economic meeting with other government agencies.“The government will stay vigilant," he said.
Instead, he urged the National Assembly and the government to work closely to ease economic and market uncertainties in order to restore investors’ confidence.“It is important to preserve our country’s sovereign rating,” said Choi, adding that the government will communicate with foreign investors and the international community to help them better understand Korean economic conditions and government measures.
Choi also pledged that the government will take prompt actions to deal with the growing uncertainty on the global trade front.“We will swiftly respond to external uncertainties stemming from the new US government and stabilize our people's livelihoods,” said Choi.“We must not waste the critical time that determines the fate of our (mainstay) industries” such as the semiconductor, shipbuilding, shipping and petrochemical sectors.
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