South Korea Finance Minister Choi – will manage the economy as stably as possible

South Korea Finance Minister Choi:

• will utilise all available resources to manage the economy as stably as possible.

South Korea Foreign Minister Cho

• noted that US President Biden expressed confidence in Korean democracy and support for the bilateral alliance in a recent phone call.
• Cho stated they will make every effort to bring diplomacy back to normal and rebuild trust.
• Cho mentioned plans regarding the North Korea nuclear issue will be prepared before the new US administration takes office.
• Cho acknowledged that communication with the Trump team has been affected by recent events and will make efforts to keep it smooth.
• Cho said Yoon’s martial law attempt undercut political momentum for communication built with Trump.
• Cho admitted there are limitations with Yoon suspended from duty and it will take time to restore momentum.
• Cho is trying to restore communication with the Trump side as soon as possible despite limitations.
• Cho said they cannot confirm whether Trump has invited the South Korea president and will consider this while monitoring the situation.
• Choi stated they will actively respond to excessive volatility in the forex market.
• Cho remarked that Trump has raised prospects for the end of the Ukraine war but noted it would take a considerable amount of time until it happens.
• Cho expressed openness to any opportunities for negotiation with North Korea, including on the nuclear issue, and said they will be proactive.
• Cho announced they will devise a roadmap to prepare for Trump’s potential resumption of talks with North Korea.
• Cho expects China’s Xi to attend next year’s APEC Summit in South Korea.
• Cho is considering reciprocal measures to China’s visa exemption.

South Korea continues to mop up after the brief imposition of martial law.

This article was written by Eamonn Sheridan at www.forexlive.com.