In opening remarks to the 276th Ministerial Meeting on International Economic Affairs, South Korea's Ministry of Economy and Finance outlined plans to monitor global financial markets and prepare timely measures to prevent excessive domestic stock market reactions relative to economic fundamentals. The remarks highlighted uncertainty following the Nov. 3 US midterm elections. US stocks fell sharply on Nov. 5 amid concerns about tighter regulation of artificial intelligence, raising the prospect of spillovers to other equity markets. The assessment comes as exports reached USD 930 billion in January through October, with annual exports expected to reach USD 1 trillion in November. Recent export growth has benefited from expanding global investment in artificial intelligence and rising semiconductor demand, making changes in those investment trends and major economies' industrial and trade policies key areas for monitoring. The government will assess how changes to US tariffs, export controls and industrial support policies could affect Korean companies, including policies requiring congressional legislation or budget approval. It will also pursue implementation of the existing South Korea-US trade agreement and expand engagement with the US administration, Congress and state governments. Cooperation efforts will focus on export and investment conditions and opportunities in strategic industries, including shipbuilding and energy.
South Korea's Ministry of Economy and Finance outlines market and trade risk response following US midterm elections
South Korea's Ministry of Economy and Finance outlined plans to monitor global markets and prepare measures against excessive domestic stock market reactions following the US midterm elections. Exports are expected to reach USD 1 trillion in November, but their dependence on AI investment and semiconductor demand leaves them exposed to shifts in global investment and policy. The government will assess changes to US trade and industrial policies while pursuing the existing bilateral trade agreement and cooperation in shipbuilding and energy.