South Korea's top economic and monetary policymakers met Monday to discuss urgent economic issues, including the trade war between the U.S. and China and sluggish job creation.

Finance Minister Kim Dong-yeon and Bank of Korea(BOK) Governor Lee Ju-yeol held policy talks at 8 a.m. at the bank in central Seoul.

In the beginning of the talks, Kim said that he would like to exchange views on potential downside factors at home and abroad for the second half of the year.

The minister said that in particular, he would like to discuss possible responses to the changes in the global trade conditions amid the U.S.-China trade war, as well as minimum wage and other factors that could affect local economic conditions.

The BOK chief agreed that the local economy is facing considerable risk factors, saying that the global trade dispute could have a significant impact on the country's exports, investment and employment. He also called for caution for a possible spread of financial instability in emerging economies. 

The breakfast meeting was held at the request of Kim. Other senior officials from the finance ministry and the central bank were also in attendance.