212th Ministerial Meeting on International Economic Affairs
Government Discusses Policy Focuses for International Economic Affairs to Combat COVID-19
Deputy Prime Minister Hong Nam-ki presided over the 212th Ministerial Meeting on International Economic Affairs held on March 6, 2020, and discussed the four points the country’s international economic affair policies will be aimed at amid spreading COVID-19. Korea-Japan export talks, scheduled to be held in Seoul this year, is another topic of discussion.
The following is a summary of Deputy Prime Minister Hong’s keynote address:
Four points in international economic affair policies amid spreading COVID-19
1) Seek international cooperation aimed to remove uncertainties and speed up global economic recovery
2) Strengthen risk management to maintain the country’s financial market stability and sovereign credit rating: Make contingency plans ready for potential market volatility, and inform global investors and credit rating agencies of accurate and up-to-date information on the country’s current economic situation
3) Work to reverse a downward trend in exports: Help win US $30 billion worth of overseas infrastructure projects and work on non face-to-face IR activities, as well as encourage exporters
4) Work on maintaining the current multilateral and bilateral economic cooperation: Participate in global discussions on digital taxes and new trade regulations
Korea-Japan export talks
The Korea-Japan export talks was held on December 16 last year to find a solution to Japan’s export curb. There will be a following meeting in Seoul this year, and we hope the meeting will produce outcomes.
Please refer to the attached pdf
