Finance Minister Pledges Swift Action Against Market Volatility Amid Global Challenges

SEOUL: Finance Minister Choi Sang-mok has committed to enhancing market surveillance and implementing rapid responses to excessive market volatility, in light of disappointing growth figures and ongoing global uncertainties, his office announced. Choi made these statements during a meeting with economy-related ministers in Seoul, after the country's GDP showed a modest 0.1 percent growth in the third quarter, falling short of market expectations. According to Yonhap News Agency, Choi highlighted that the government is particularly vigilant about the economic uncertainties reflected in the recent GDP data. He emphasized the importance of scrutinizing both domestic and international market conditions to preempt any potential risks. The minister identified several global factors contributing to the current economic climate, including the impending U.S. presidential election, the economic situations of major countries, and the ongoing crisis in the Middle East. Choi assured that the government is prepared to ad dress any undue volatility in the financial and foreign exchange markets that deviate from economic fundamentals. This will be achieved through contingency plans and close cooperation with relevant agencies. Furthermore, the minister outlined a policy focus on boosting the semiconductor industry's competitiveness amid global competition, promising additional measures to develop talent and support infrastructure construction.