Finance Minister Koo Yun-cheol vowed on Wednesday to stabilize people's livelihoods amid ongoing volatility in foreign exchange and financial markets.
Finance Minister Koo Yun-cheol made the remarks during a meeting with economy-related ministries at the Seoul Government Complex. He noted the record current account surplus of $38.61 billion in May, up from $28.29 billion the previous month, but added that volatility persists.
Koo cited the impact of the Middle East war, including inflationary pressure and slowing employment, as factors continuing to strain people's livelihoods. The government plans to fully implement three recently unveiled megaprojects focused on semiconductors, Physical Artificial Intelligence, and AI data centers.
In a separate meeting with Bank of Korea Governor Shin Hyun-song and other officials, participants identified foreign capital outflows as a contributor to market volatility. They agreed to review risk factors and foster next-generation growth engines such as biotechnology, defense, and space industries to reduce reliance on semiconductors and AI.
