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Finance minister reassures eased uncertainties following Yoon's impeachment

Dec. 16, 2024 - 10:19 By Yonhap
Finance Minister Choi Sang-mok. (Yonhap)

Finance Minister Choi Sang-mok reiterated Monday that uncertainties from the recent martial law debacle have eased following the impeachment of President Yoon Suk Yeol, emphasizing the country's robust economic system.

Choi made the remarks during the opening session of a regional economic forum in Seoul attended by domestic and regional experts, including representatives from the Singapore-based ASEAN+3 Macroeconomic Research Office.

On Saturday, the National Assembly voted to impeach Yoon over his surprise imposition of martial law on Dec. 3, a move that many say caused the country to plunge into unprecedented uncertainties.

"Developments over the weekend have reduced uncertainties regarding the current state of affairs," Choi said.

The minister further assured that South Korea's economic system remains stable, highlighting the smooth functioning of emergency response mechanisms.

Choi has been holding daily "F4" meetings with top financial officials, announcing a series of countermeasures to mitigate potential economic impact from the political turmoil, including a commitment to inject "unlimited liquidity" into the market if necessary.

AMRO, established in 2011, focuses on promoting macroeconomic and financial stability in the Asian region. It includes the 10-member Association of Southeast Asian Nations and its three Northeast Asian partners -- South Korea, China and Japan. (Yonhap)