On the 7th, Minister of Economy and Finance Choi Sang-mok said, "We will closely communicate with the National Assembly for the essential supplementary budget."
On that morning, Vice Minister Choi held a meeting with foreign relations ministers and noted, "It is necessary to analyze the impact on the overall macroeconomy and prepare support measures for urgent institutional sectors."
Attending the meeting were Minister of Foreign Affairs Park Tae-yul, Minister of Trade, Industry and Energy Ahn Duck-geun, Director of the Office for Government Policy Coordination Bang Gi-seon, First Vice Minister of Industry Park Sung-taek, and Deputy Minister Jeong In-kyu.
They looked into the response trends of major countries' governments following the United States' announcement of reciprocal tariffs on the 2nd. They also reviewed South Korea's response strategy ahead of Deputy Minister Jeong's visit to the U.S.
Vice Minister Choi emphasized the need for the revision of the Industrial Bank Act to establish a high-tech strategic industry fund, addressing trade risks, strengthening artificial intelligence (AI) competitiveness, and responding to urgent issues related to support for small businesses and people's livelihoods, and urged consultation with the National Assembly regarding the supplementary budget.