6th Ministerial Meeting on Current Economic Issues
Deputy Prime Minister Yoo Il Ho presided over the 6th Ministerial Meeting to Address Current Economic Issues, and discussed the global financial market situation and plans for global public relations activities.
Global Financial Market Situation
Major market stocks and interest rates, which had rallied after the US presidential election, have eased somewhat since the December FOMC meeting. So has the dollar rally.
In 2017, external situations will unlikely be favorable to the Korean economy: US economic and trade policies are expected to change under the new administration, China’s financial markets may remain unstable, concerns are lingering over risks that may arise from European banks and Brexit negotiations scheduled to start in March.
The government will closely monitor the developments of these uncertainties and be thoroughly prepared for any risks possibly arising.
Global Public Relations Activities
The government will reinforce global public relations to assure investors of Korean economy’s fundamental strength. Global public relations activities scheduled are as follows:
- IR meeting: Deputy Prime Minister Yoo will hold an IR meeting in New York on January 11, of which the main discussion will be major strengths of the economy, resilience of the economy, and stability regarding state affairs after the impeachment.
- Meet in person with global investors: Deputy Prime Minister Yoo will meet in person with global investors in Boston on January 9, and talk about Korea’s current economic situations and economic policies, as well as fundamental strengths of the economy.
- Bilateral meeting with major global investors: Deputy Prime Minister Yoo will have bilateral meetings with Goldman Sachs CEO, Lloyd Blankfein and Blackstone CEO, Stephen Schwarzman, where the deputy prime minister will discuss policy frameworks of the new US administration.
- WEF’s 2017 Davos Meeting: Korea’s Trade, Industry and Energy Minister will attend the 47th World Economic Forum Annual Meeting held in Davos on January 18-19, during which the minister will talk about how reliable Korea’s economic policies have been and the government’s constant efforts to prepare for the future.