Acting President Choi Sang-mok, who also serves as the Deputy Prime Minister and Minister of Strategy and Finance, said in a video meeting on the 9th with senior officials from global credit rating agencies such as Moody's, Fitch, and S&P, "As the constitutional and legal systems in Korea operate normally, political uncertainty will also be resolved."
On that day, Acting President Choi held video meetings in the government Seoul office with senior executives from global credit rating agencies, including Mari Dilon, global macro ratings head at Moody's; James Longsdon, global macro ratings head at Fitch; and Kim Eng Tan, Asia-Pacific head of sovereign ratings at S&P.
This meeting was held a month after December 12 of last year to update changes in the Korean political situation and the government's response direction. Acting President Choi explained, "All national systems in Korea, both in economic and non-economic sectors, are operating smoothly with consultations among relevant ministries."
He added, "(The financial and foreign exchange markets) are recovering to some extent to the state prior to the state of emergency," and stated, "We will do our utmost for market stability through close cooperation among the Ministry of Strategy and Finance, Bank of Korea, and the Financial Services Commission."
Additionally, Acting President Choi introduced the newly launched 'National Council for Governance' comprising ruling and opposition parties. He noted that through this council, important livelihood legislation can be expedited and policies for stabilizing lives and revitalizing the economy can be implemented smoothly.
The three global credit rating agencies, S&P, Moody's, and Fitch, highly evaluated the Korean government's prompt and transparent communication regarding the current situation. However, they pointed out, "While the political uncertainty has a limited impact on the Korean economy, its prolongation could not overlook the negative effects on foreign investment or corporations' decision-making."
The Ministry of Strategy and Finance stated, "We will maintain close communication channels with global credit rating agencies, overseas investors, foreign direct investors, and treasury officials of major countries in the future," and noted, "We plan to manage external credibility together with the newly appointed international financial cooperation ambassador Choi Jong-gu and international investment cooperation ambassador Choi Joong-kyung."