Deputy Prime Minister Koo Yoonchul Requests Cooperation for Exchange Rate Stability... Major Export Conglomerates to Actively Participate

"Request for Participation in Discussions on Exchange Rate Stabilization Measures"

Koo Yoonchul, Deputy Prime Minister for Economy and Minister of Economy and Finance, is delivering opening remarks at the "Major Export Companies Meeting" held on the 18th at the Government Seoul Office in Jongno-gu, Seoul. (Source: Ministry of Economy and Finance)

The government has decided to work closely with major export conglomerates such as Samsung Electronics and SK Hynix to stabilize the exchange rate.

The Ministry of Economy and Finance announced on the 18th that Deputy Prime Minister for Economy and Minister of Economy and Finance Koo Yoonchul met with major export companies at the Government Seoul Office that afternoon, requesting their active participation in discussions on measures to improve the foreign exchange supply and demand to stabilize the exchange rate.

The meeting was convened to review recent trends in exports and investment, and to discuss public-private cooperation measures for supporting investment in the United States and improving the foreign exchange supply and demand. Attendees included Samsung Electronics, SK Hynix, Kia and Hyundai Motor, Hanwha Ocean, and POSCO Holdings.

Deputy Prime Minister Koo stated, "We will continue to communicate closely with companies during the process of promoting investment in the United States as part of tariff negotiations, and will strive to ensure that investments are made in ways that benefit both the national interest and the companies."

He also requested the participating companies' close cooperation going forward, as the government plans to promote exchange rate stabilization by consulting with export companies, the main players in foreign exchange supply and demand, to achieve structural improvements.

The participating companies also agreed that exchange rate stability would facilitate smooth business operations, and expressed their commitment to actively participate in future discussions.

Participants suggested that efforts should be made to ensure that a virtuous cycle is established, where export profits are reinvested domestically, leading to increased productivity.

Deputy Prime Minister Koo explained that, to enhance the competitiveness of export companies, the export support budget for next year has been significantly increased. He also noted that plans are in place to diversify exports by expanding the free trade agreement (FTA) network and strengthening cooperation with the Global South, as well as to rationalize regulations.

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