Seoul:Finance Minister Lee Hyoung-il has urged South Korea's financial attaches in overseas missions to closely monitor the implications of the U.S. midterm elections on the global economy, including how individual countries are reacting.
According to Yonhap News Agency, Lee's remarks came during his first meeting with financial attaches at 18 overseas missions since taking office in September. The meeting, which was held virtually, aimed to review the latest economic trends in major countries.
During the meeting, Lee highlighted that South Korea is facing external uncertainties, such as fiscal instability in Europe and global geopolitical tensions, despite strong export performance. He emphasized the need for preemptive identification of changes in the external environment to address risks ahead of time.
Lee specifically pointed out the importance of understanding how changes in the political landscape following the U.S. midterm elections might influence the Trump administration's policy direction. He instructed the financial attaches to keep a close watch on these developments.
Furthermore, Lee called for vigilance regarding the fiscal crisis in France and its potential impact on the global economy, as well as the effects of global supply chain disruptions amid the ongoing Russia-Ukraine and U.S.-Iran wars. The finance ministry assured continued close communication with the financial attaches to review economic and policy trends in major countries and to respond proactively to external risks.