Finance minister calls for close monitoring of U.S. midterms impact

Finance Minister Lee Hyoung-il has urged South Korea's financial representatives stationed overseas to closely monitor the potential effects of the U.S. midterm elections on the global economy. During his inaugural meeting with financial attaches from 18 overseas missions following his September appointment, Lee emphasized the country's exposure to external uncertainties.

Despite South Korea's thriving exports, the minister highlighted fiscal instability in Europe and growing geopolitical tensions as areas of concern. To transform recent successes into lasting growth, Lee stressed the need to anticipate shifts in the external environment and proactively address emerging risks. He further urged the financial attaches to pay particular attention to the ramifications of the U.S. midterm elections on the Trump administration's policy direction, as well as the fiscal crisis in France and its potential global repercussions.

Additionally, Lee called for close monitoring of the Russia-Ukraine war and the U.S.-Iran conflict's impact on global supply chains. The finance ministry pledged to maintain open communication with the financial attaches, regularly reviewing economic and policy trends in major countries and swiftly responding to external risks.