Finance Minister Koo Yun-cheol attends a meeting on the country's market situation at Seoul Government Complex in Seoul, Wednesday. Courtesy of Ministry of Finance and Economy
Korea's finance minister on Wednesday vowed to roll out efforts to stabilize people's livelihoods amid lingering volatility in foreign exchange and financial markets.
Finance Minister Koo Yun-cheol made the remarks during a meeting with economy-related ministries, noting challenges for the economy remain despite an all-time high current account surplus posted in May.
Earlier in the morning, the Bank of Korea (BOK) said the current account surplus totaled $38.61 billion in May, up from $28.29 billion the previous month.
"Despite such positive macroeconomic indicators, volatility in foreign exchange and financial markets continues," Koo said. "Due to the impact of the Middle East war, including inflationary pressure and slowing employment, pressure on people's livelihoods continues as well."
