Deputy Prime Minister and Finance Minister Yoo Il-ho has instructed top ministry officials to exert all-out efforts in managing North Korea-related security risks.
 
Yoo issued the instruction during a meeting of senior ministry officials held in the form of a video conference on Monday, saying that there is a possibility that mounting tensions surrounding the North could affect South Korea’s economy.
 
Yoo urged ministry officials to timely respond to the North’s movements by monitoring them round-the-clock and observe possible effects they could have on the South’s economy.
 
On the latest economic conditions, Yoo said that the nation’s production and investment are seeing recovery thanks to growth in exports. He cited that the Bank of Korea marked up its economic growth outlook from two-and-a-half percent to two-point-six percent last week, stressing that positive views about economic conditions are steadily gaining consensus.
 
On the U.S. not designating South Korea as a currency manipulator last weekend, Yoo said that external uncertainties have somewhat been eased.
 
He then vowed to actively carry out economic diplomacy when he attends the G-20 finance ministers' meeting this weekend in Washington.