Finance minister calls for close monitoring of U.S. midterms impact

By Kang Yoon-seung

SEOUL, Nov. 11 (Yonhap) -- Finance Minister Lee Hyoung-il on Wednesday called for South Korea's financial attaches in overseas missions to closely monitor the impact of the U.S. midterm elections on the global economy, including how individual countries are responding.

Lee made the remarks during his first meeting with financial attaches at 18 overseas missions since taking office in September, held virtually to review the latest economic trends in major countries, according to the Ministry of Finance and Economy.

During the meeting, Lee stressed that South Korea faces external uncertainties, including fiscal instability in Europe and global geopolitical tensions, despite the country's robust exports.

"In order to turn recent achievements into sustainable growth, we need to preemptively identify changes in the external environment and take steps to address risks in advance," Lee said during the meeting.

"We also need to focus on how changes in the political landscape following the U.S. midterm elections will affect the Trump administration's policy direction," the finance minister added, asking the attaches to closely monitor relevant developments.

The finance minister also called for the attaches to closely watch the fiscal crisis in France and its potential impact on the global economy, as well as global supply chains amid the Russia-Ukraine war and the U.S.-Iran war.

The finance ministry said it will continue to communicate closely with the financial attaches to review economic and policy trends in major countries and proactively respond to external risks.