Bom Kim, the acting Minister of Economy and Finance, expressed regret over the resignation of former Deputy Prime Minister and Minister of Economy and Finance Choi Sang-mok and stated that an emergency response system would be activated.
Bom Kim, the acting Minister of Economy and Finance, chaired a macroeconomic and financial issues meeting (F4) on the 2nd and made this statement. The meeting included Bank of Korea Governor Lee Chang-yong, Financial Services Commission Chairman Kim Byeong-hwan, and Financial Supervisory Service Commissioner Lee Bok-hyun.
Kim noted, "Meeting participants were concerned about the significant uncertainty in the economy and financial markets due to tariff shocks, and regretted that former Deputy Prime Minister and Minister of Economy and Finance Choi Sang-mok had to resign due to the inevitable impeachment process, with a month left until the new government's launch."
Kim mentioned, "We decided to maintain a 24-hour emergency monitoring and response system centered around the F4 meeting to minimize the negative impact of increased political uncertainty on the financial and foreign exchange markets."
The F4 meeting, short for "Finance 4," is a weekly closed-door gathering of the Deputy Prime Minister of Economy, the Governor of the Bank of Korea, the Chairman of the Financial Services Commission, and the Commissioner of the Financial Supervisory Service to discuss macroeconomic and financial issues. The meeting that day was chaired by Bom Kim in his capacity as acting Deputy Minister due to the resignation of Choi Sang-mok.