Finance minister, BOK chief stress coordination to address uncertainties
Korea's finance minister met with the central bank governor Monday to discuss ways to strengthen coordination to address economic uncertainties, the finance ministry said. Finance Minister Lee Hyoung-il, who took office last week, held talks with Bank of Korea (BOK) Gov. Shin Hyun-song during his first visit to the central bank since taking office, according to the Ministry of Finance and…
Korea's Finance Minister Lee Hyoung-il and Bank of Korea Governor Shin Hyun-song met on Monday to discuss strengthening coordination to tackle economic uncertainties, according to the Ministry of Finance and Economy. During their first meeting since Lee assumed office last week, both policymakers agreed that the Korean economy is experiencing robust growth, driven by strong export and investment figures amidst the semiconductor supercycle.
However, Lee and Shin also highlighted ongoing pressures on people's livelihoods due to external uncertainties, such as interest rate hikes in major economies and geopolitical risks. The central bank governor and finance minister emphasized the increasing interconnectivity of financial, foreign exchange, and property markets, underscoring the necessity for closer cooperation between their institutions to preemptively address economic risks.
In response, Finance Minister Lee called for enhanced communication between the finance ministry and the Bank of Korea to effectively pursue their strategic objectives.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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