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South Korea's Minister of Economy and Finance, Koo Yun-cheol, stated that the nation's economy is expected to grow by more than 2% this year despite various risks, adding that local stocks remain undervalued.
Deputy Prime Minister Koo Yun-cheol met with American Chamber of Commerce in Korea Chairman James Kim to discuss strengthening Seoul's competitiveness as a financial hub amid pressure from Singapore and Hong Kong.
South Korea's Finance Minister Koo Yun-cheol indicated that the government might extend a mandatory five-day vehicle rotation system to the private sector if global oil prices reach $120-130 per barrel, as part of national energy-saving efforts.
South Korean Finance Minister Koo Yun-cheol emphasized the importance of a green transition to reduce reliance on fossil fuels during the Asian Development Bank's annual meeting in Samarkand, Uzbekistan. His remarks highlighted the country's commitment to environmental sustainability.
Finance Minister Koo Yun-cheol urged South Korea's business leaders to continue efforts to innovate and find new growth engines. This call comes in the face of industrial paradigm shifts, such as artificial intelligence, to sustain the country's economic growth.
South Korean Finance Minister Koo Yun-cheol urged proactive policy measures to prepare for a prolonged Middle East crisis, citing rising global oil prices and heightened economic uncertainties due to the Iran conflict.
South Korean Finance Minister Koo Yun-cheol affirmed that the nation's financial institutions possess ample capacity to manage crisis scenarios, despite ongoing volatility in financial and foreign exchange markets.
South Korea's Finance Minister Koo Yun-cheol announced that the Korean won is stabilizing against the US dollar after depreciation linked to the US-Israeli war against Iran, expressing optimism for market alignment.
Finance Ministers Satsuki Katayama of Japan and Koo Yun-cheol of South Korea have expressed serious concern over the recent sharp depreciation of the Korean won and the Japanese yen, indicating readiness to act against forex volatility.