Choi Sang-mok: "Immediate Implementation of All Market Stabilization Measures in Response to US Tariff Volatility"

Choi Sang-mok, Deputy Prime Minister and Minister of Strategy and Finance, stated on the 3rd that "if market volatility excessively expands due to the announcement of the reciprocal tariff policy by US President Donald Trump overnight, we will immediately implement all available market stabilization measures according to contingency plans."

Deputy Prime Minister Choi held a 'Macroeconomic and Financial Issues Meeting' (F4 Meeting) at the Bankers Association in Seoul with Bank of Korea Governor Lee Chang-yong, Financial Services Commission Chairman Kim Byung-hwan, and Financial Supervisory Service Governor Lee Bok-hyun. He said, "Due to the US government's reciprocal tariff measures, high volatility in the global financial market is expected to continue for the time being, and the domestic financial and foreign exchange markets will also react sensitively."

Deputy Prime Minister Choi explained, "The government has thoroughly prepared contingency plans to cope with the expansion of volatility in the financial and foreign exchange markets, centering on the F4 Meeting." He added, "We will operate a joint 24-hour monitoring system with related agencies until the market situation is sufficiently stabilized, and we will also operate sector-specific monitoring systems for the foreign exchange, government bond, and money markets."

He further announced that through the Economic Security Strategy Task Force (TF), a joint response strategy between the public and private sectors will be prepared, and detailed support measures, including support for industries expected to be affected, will be announced sequentially through the Industrial Competitiveness Enhancement Ministers' Meeting.

Deputy Prime Minister Choi requested, "In the 'Essential Supplementary Budget' proposed by the government, we will actively reflect trade finance, additional supply of export vouchers, and projects to respond to trade risks such as stabilizing the supply chain of key items. Please discuss this swiftly in the National Assembly so that companies can navigate unprecedented trade waves."

Han Kyung-woo, Hankyung.com reporter case@hankyung.com