The Ministry of Finance and Economy has evaluated external economic factors that could impact South Korea's economy in the second half of the year, including risks associated with U.S. artificial intelligence (AI) investments and unusual weather patterns in Europe.
On September 14, the ministry held a video conference with finance officials from 15 countries, led by Moon Ji-sung, the ministry's International Economic Management Director, at the Government Seoul Complex.
The finance officials, stationed at 18 diplomatic missions, support external operations related to fiscal and economic cooperation with host governments and international organizations, as well as gathering information on major policy trends.
This meeting was convened to identify factors that could affect the South Korean economy amid ongoing external uncertainties, including geopolitical tensions from the U.S.-Iran conflict and changes in major countries' trade policies, as well as the rise of protectionism.
Participants discussed trends and risks in U.S. AI investments, as well as Japan's new investment framework aimed at fostering a 'strong and prosperous Japan.' They also examined the implications of the new British government's policy direction and the impact of heatwaves and droughts in the European Union on agriculture, energy, and logistics.
Moon emphasized the importance of proactively monitoring changes in policies and market movements in a highly uncertain external environment. He urged participants to swiftly share any new issues identified locally, enabling the headquarters to prepare timely responses as needed.
* This article has been translated by AI.
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