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[BUSINESS] · South Korea · 5 sources

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South Korean economic leaders coordinate policy to manage market uncertainty

Policy Mix monetary policy fiscal policy financial stability Bank of Korea

South Korean Deputy Prime Minister and Minister of Economy and Finance Lee Hyung-il has initiated new coordination efforts to address economic challenges. In his first official 'Economic Issue Meeting,' Lee convened various ministers and officials to discuss electric vehicle industry policies and improvements to the retirement pension system.

Following this, Lee met with Bank of Korea Governor Shin Hyun-song to strengthen the 'Policy Mix' between fiscal and monetary authorities. The leaders discussed the need for close communication to manage rising uncertainty caused by global interest rate hikes and geopolitical risks. They emphasized the importance of maintaining price stability, economic growth, and financial stability while monitoring the increasing interconnectedness between the financial, foreign exchange, and real estate markets.

Entities

Bank of Korea · Lee Hyung-il · Ministry of Economy and Finance · Shin Hyun-song

Claims

What the coverage asserts, and how many sources carry each claim.

  • [● 2 SOURCES] Both leaders identified increasing interconnectedness between financial, foreign exchange, and real estate markets. www.hani.co.kr · zdnet.co.kr
  • [● 2 SOURCES] Lee Hyung-il proposed strengthening cooperation between the Ministry of Economy and Finance and the Bank of Korea to achieve common goals of price stability, growth, and financial stability. www.hani.co.kr · zdnet.co.kr
  • [○ 1 SOURCE] Lee Hyung-il convened the first 'Economic Issue Meeting' to coordinate policies between ministries, focusing on electric vehicle industry policies and retirement pension system improvements.
  • [● 2 SOURCES] Governor Shin Hyun-song emphasized that macroeconomic stability through price and financial stability is a prerequisite for building a foundation for sustainable growth. www.hani.co.kr · zdnet.co.kr
  • [● 2 SOURCES] The meeting was prompted by high external uncertainty caused by interest rate hikes in major economies and ongoing geopolitical risks. www.hani.co.kr · zdnet.co.kr

Sources

이형일·신현송 첫 회동…"위험 요인 선제 대응 협력 강화" [www.newstomato.com]
취임 6일 만에 한은 찾은 이형일…“최적의 정책 조합” 띄웠다 - 조세일보 [www.joseilbo.com]
이형일 “경제·통화정책 조화 모색”…신현송 “물가·금융안정이 전제” [biz.heraldcorp.com]
재경부·한은 “금융시장 불확실성 높아져, 협력 대응 필요” [www.hani.co.kr]
"과거보다 불확실성 높아"…'폴리시믹스' 강화한다 [zdnet.co.kr]