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Finance minister to call emergency meeting after impeachment vote

Published: 14 Dec. 2024, 17:29 Updated: 14 Dec. 2024, 17:54

SHIN HA-NEE
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Minister of Economy and Finance Choi Sang-mok speaks during an emergency meeting on macroeconomic and financial issues on Dec. 11 in central Seoul. [MINISTRY OF ECONOMY AND FINANCE]

Minister of Economy and Finance Choi Sang-mok, who also serves as deputy prime minister, will chair an emergency ministerial meeting on economic affairs on Sunday at 3 p.m. following the passage of the impeachment motion against President Yoon Suk Yeol.

Choi will then attend an emergency ministerial meeting on external affairs.

Subsequently, the minister will chair an emergency meeting on macroeconomic and financial issues, attended by the country's economic policy chiefs including Choi, Bank of Korea Gov. Rhee Chang-yong, Financial Services Commission Chairman Kim Byoung-hwan and Financial Supervisory Service Gov. Lee Bok-hyun.

Choi is second in line to serve as acting president after Prime Minister Han Duck-soo following Yoon's suspension from his duties.

The government has implemented a series of stabilization measures to address persistent volatility in the financial and foreign exchange markets, including injecting 100 billion won ($69.6 million) from the Corporate Value-up fund into the domestic stock markets so far.

The financial authorities announced market stabilization measures worth up to 50 trillion won in total on Dec. 4, following Yoon's martial law declaration, including an unlimited liquidity supply by the central bank.

BY SHIN HA-NEE [[email protected]]