Prime Minister Kim Min-seok met with Bank of Korea Governor Lee Chang-yong and emphasized the importance of cooperation between the central bank and the government to stabilize the market, including exchange rates and prices.
During the meeting held in the morning of the 9th at the Government Complex Seoul, Prime Minister Kim stated, “Let’s continue to communicate closely and cooperate on current issues.”
This meeting is interpreted as a response to recent economic concerns, as the South Korean economy shows signs of recovery with improvements in domestic demand, yet fears over high inflation persist with the dollar-won exchange rate hovering in the mid-to-high 1400 range.
According to the Prime Minister’s Office, Prime Minister Kim stated, “The government will make every effort to solidify the momentum of economic recovery and expand it into stability in people’s livelihoods.” He emphasized plans to alleviate food price burdens, revitalize local economies, and enhance growth potential through AI (artificial intelligence) transformations and super-innovation economies.
Governor Lee responded by stating, “The Bank of Korea will continue research on structural reforms not only for short-term economic stability but also to expand long-term growth potential, and will further strengthen communication and cooperation with the government.”
The Prime Minister’s Office reported that it will continue to closely communicate with the Bank of Korea, sharing perceptions on major economic and financial issues.