Held the “19th meeting of the central countermeasures central office for the emergency economy and the 219th meeting of foreign economy ministers”

On Thursday, November 12, Deputy Prime Minister Hong Nam-ki and the Minister of Strategy and Finance chaired the 19th meeting of the central countermeasures central office for the emergency economy and the 219th meeting of foreign economy ministers at the complex of the Seoul government.

The Ministry of Strategy and Finance reported that Nam-ki Hong and the Minister of Strategy and Finance chaired the “ 19th meeting of the emergency economic central countermeasures headquarters and the 219th meeting of foreign economy ministers ” at the Seoul government complex on the morning of Thursday 12 November.

In this meeting, ① economic trend and inspection and response group report, ② economic ripple effect and response direction from the US presidential election, ③ public sector financial execution status check and implementation plan for the fourth quarter, plan small business owner rental burden reduction plan, ⑤ organic health industry Strategies to promote commercialization and enhancement of regional bases, ⑥ strategies to enhance organic R&D and ⑦ measures to prevent overwork by couriers.

Deputy Prime Minister Hong said: “As a result of US President-elect Biden’s political commitments analysis, the United States will implement economic stimulus measures based on the crown crisis, manufacturing innovation policies, restore jobs. and the middle class, will expand eco-friendly investments, return to multilateralism and cooperate with allies Many changes are expected, such as Ganghwa.

“It is very important to look at the changes in the international order and in the global economy, the ripple effect on the Korean economy and our preventive response directions,” he stressed.

“In the case of the global economy, there were many prospects that would contribute to a positive effect on the global economy and the recovery of the global economy by easing global uncertainty, the ripple effect of expanded US finances and improving international trade and commercial conditions “.

“In the midst of these changes, opportunity factors need to be actively discovered and utilized, and new issues such as the environment and work must be responded to in advance,” he said.

As for the Korean economy, the overall macroeconomic upside factor prevails, but on the one hand it reveals the challenges and institutions to be wary of. The ripple effect of the global economy and increased trade are expected to have a positive effect on the Korean economy. He said reducing volatility should also act as a stabilizing factor in the Korean financial market.

However, it is analyzed that the upward and downward impacts will be different for each Korean industry, such as the tightening of climate change standards and concerns over the continuation of the US-China trade conflict. The use of these upward factors is maximized to contribute to the economic recovery trend in the fourth quarter and next year of the Korean economy. It was analyzed that it would be very important to expand new cooperation opportunities and establish economic partnerships for the benefit of both sides between the United States and Korea.

To this end, the government formed the “ New Government Economic Cooperation Task Force ” together with relevant ministries, closely monitored the new government’s specific policy plans to be announced in the future, and prepared and implemented detailed countermeasures. in a timely manner focusing on the meeting of foreign economy ministers. She said.

In particular, while seeking new cooperation on health and bio-cooperation, cooperation in the green new deal and multilateral cooperation, it is said that the detailed awareness activities will be greatly expanded, such as the creation of various private communication channels and channels intergovernmental with the new government.