Finance Minister Koo Yun-cheol said Friday that South Korea's economy continues to maintain solid fundamentals despite the Middle East crisis. He pledged the government will keep an emergency posture until uncertainties subside.
Koo made the remarks while presiding over a meeting of economy-related ministers at the Government Complex Seoul. He cited data showing the country posted its largest-ever monthly current account surplus in March, totaling $37.33 billion. Exports also exceeded $80 billion for the second consecutive month in April.
"Our economy maintains solid fundamentals even amid the crisis caused by the Middle East war," Koo said. He noted however that economic burdens are increasing amid continued rises in oil prices and supply chain disruptions.
The government froze the price ceilings on fuel products for the third consecutive time. This means the current pricing cap will be maintained for two more weeks. Koo added that the government will firmly hold onto the helm of the economy until all uncertainties have subsided.
