South Korea's new Finance Minister, Choo Kyung-ho, met today for the first time officially with the new Bank of Korea Governor Lee Chang-yong, and they reportedly agreed that the government and the central bank need to work together on economic policy.
According to a joint statement by their offices, Minister Choo noted the global economic uncertainty, saying the South Korean economy has been under pressure from rising prices and the war in Ukraine.
Governor Lee said the country needs immediate policy coordination between government departments and the central bank.
The two also discussed ways to deal with the weakening Korean won and growing inflationary pressure.
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