Choi Acting President Holds Video Meeting with US Treasury Secretary: "Please Consider South Korea's Contribution to the US Economy"

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Choi Sang-mok, Acting President and Deputy Prime Minister as well as Minister of Economy and Finance, held a video conference with Scott Vincent, U.S. Secretary of the Treasury, at the Government Seoul Office on the 28th. This was the first meeting between the economic control towers of the two countries since Vincent, the inaugural Treasury Secretary of the second Trump administration, took office.

During the video conference held at the Government Seoul Office from 8:15 a.m., Acting President Choi reaffirmed the strong Korea-U.S. alliance and discussed cooperation measures in economy, trade, security, and foreign exchange markets with the Trump administration.

Secretary Vincent did not attend the 'G20 Finance Ministers and Central Bank Governors Meeting' held this week in South Africa, and Acting President Choi also did not attend the G20 Finance Ministers Meeting to handle domestic issues, so the contact that was not realized was made possible through the video channel.

The Ministry of Economy and Finance reported that Acting President Choi and Secretary Vincent exchanged broad opinions on bilateral issues such as the Trump administration's tariff measures, Korea's investment plans toward the U.S., and exchange rate policies.

Acting President Choi requested, "Please take an interest in considering Korea's contribution to the U.S. economy in the U.S. policy decision-making process, including mutual tariffs," and emphasized, "Close Korea-U.S. cooperation is important regarding the Indo-Pacific region and global economic and security issues, and trilateral cooperation among Korea, the U.S., and Japan is necessary."

This meeting is also notable as contact with key figures of the new U.S. administration in the situation where normal diplomacy has been suspended due to President Yoon Seok-youl's suspension of duties, with Choi acting as the Acting President.

Regarding this, Acting President Choi explained, "Based on a robust economic system and stable government administration, the volatility in financial and foreign exchange markets is rapidly easing, showing strong resilience in the Korean economy," and added, "International credit rating agency Fitch's decision to maintain the national credit rating (AA-) and the international community's high evaluation of Korea's economy and government's economic stabilization response are evident."

Secretary Vincent, who previously served as Chief Investment Officer (CIO) of the fund operated by George Soros and founded the hedge fund 'Key Square Group,' was appointed as the economic commander of the second Trump administration, which values Wall Street financial experience.

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