Financial policymakers to monitor US AI, trade policies following election

South Korea's top financial policymakers pledged on Thursday to closely monitor potential shifts in U.S. policies surrounding artificial intelligence (AI) and trade, and their impact on the Korean economy. Finance Minister Lee Hyoung-il, Bank of Korea governor Shin Hyun-song, Financial Services Commission chairman Lee Eog-weon, and Financial Supervisory Service governor Lee Chan-jin held a discussion following the Democratic Party's significant victory in the recent U.S. midterm elections.

During the meeting, the officials acknowledged that while major stock markets in the United States and Europe experienced growth, concerns over stricter regulation of the AI industry resulted in declines for semiconductor shares. They exchanged views on the possible changes in Washington's fiscal, trade, and industrial policies stemming from the election outcome and vowed to closely monitor the policy landscape, regulatory environment, U.S. tariffs, and developments in the ongoing Middle East conflict.

The officials agreed to intensify efforts aimed at promoting the stable growth of the Korean economy by addressing shifts in the external environment.