South Korea steadily feels affect of extended Heart East disaster: Finance Minister | Yonhap Information Company
By way of Kang Yoon-seung
SEOUL, Would possibly 15 (Yonhap) — South Korea is steadily feeling the affect of the extended war within the Heart East via upper shopper costs in spite of robust export information, the finance minister stated Friday, pledging proactive measures to stabilize provide chains.
Finance Minister Koo Yun-cheol chaired a gathering of monetary ministers in Seoul to speak about countermeasures towards the commercial fallout of the geopolitical disaster within the Heart East, in keeping with the Ministry of Finance and Financial system.
“While South Korea has demonstrated strong resilience against crises by posting record exports, current account surpluses and stock market indices, the protracted war has begun to have a visible impact on the real economy and people’s livelihoods,” Koo was once quoted as announcing through the ministry.
“The government intends to minimize the challenges to people’s livelihoods caused by the Middle East crisis while closely monitoring situations at home and abroad,” the minister added.
Koo additionally expressed gratitude to native gasoline stations for his or her cooperation with the federal government’s gas value cap plan, noting that marketplace costs lately stay underneath the cap.
The finance minister stated the federal government is drawing up an financial enlargement technique for the second one part of 2026 with a focal point on strengthening the rustic’s financial safety through taking courses from the Heart East conflict.
South Korea will carefully read about adjustments within the financial atmosphere, together with the upward thrust of the semiconductor trade, along side measures to ease financial polarization, he added.
The rustic will unlock the expansion technique for the second one part of the yr on the finish of June, in keeping with the ministry.
Finance Minister Koo Yun-cheol speaks right through a gathering with economic-related ministers in Seoul on Would possibly 15, 2026, on this picture launched through the Ministry of Finance and Financial system. (PHOTO NOT FOR SALE) (Yonhap)
Koo additionally chaired a gathering of ministers associated with the true property sector, the place he stated the federal government will take all to be had measures to stabilize the true property marketplace.
“A rapid supply of housing is more critical than anything else,” Koo stated, noting that the federal government will paintings to shorten the method of offering extra housing to the general public.
“The government is closely monitoring unfair practices in the real estate market with relevant organizations and taking stern measures,” he added.
