Finance Minister Kim Dong-yeon said on Tuesday that the government will create new overseas markets through multilateral trade pacts.

Kim made the comment on Tuesday at the beginning of a meeting with economy-related ministers at the government complex in Seoul.

He said that the government will actively deal with growing global protectionism, saying that it will create new momentum for economic growth abroad using the Comprehensive and Progressive Agreement for Trans-Pacific Partnership(CPTPP). 

South Korea is seeking to join the fledgling trade pact that represents a market of 500 million people and 13-point-five percent of the global economy.

Kim said that changes in external conditions are both a risk and an opportunity, adding the government will diversify its investment targets.