In the wake of unexpected leadership changes, South Korea is moving quickly to reassure investors and businesses. Acting Finance Minister Kim Beom-seok has vowed to limit any fallout in the country’s financial and foreign exchange markets following the resignations of both the prime minister and the finance minister.
During a meeting with key economic policymakers, Kim expressed deep regret that Finance Minister Choi Sang-mok stepped down at a time already marked by high market uncertainty. “We understand this is a delicate period for both domestic and international stakeholders,” Kim said in a ministry statement. “Our top priority is to maintain stability and confidence in our markets.”
The sudden departures create a challenging backdrop for South Korea’s economy, which relies heavily on clear policy signals and steady leadership. By committing to explore all available tools—ranging from liquidity measures to coordinated policy guidance—Kim aims to prevent any sharp swings in the won or local equities.
As the government prepares for the appointment of permanent successors, all eyes will be on Seoul to see how swiftly and effectively the interim team can navigate this critical moment. For a nation tightly woven into global trade and finance, steady hands at the helm are essential to keeping markets on an even keel.
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S. Korea vows to minimise market impact from political uncertainty
cgtn.com
