The finance ministry said Thursday it has launched an advisory panel for in-depth talks with experts on national strategies regarding global economic uncertainties.

Finance Minister Choi Sang-mok presided over the inaugural meeting of the international economic advisory panel in Seoul on the day, where professors and experts in the field discussed global economic situations and South Korea’s external policy measures, according to the Ministry of Economy and Finance.

Choi said that the South Korean economy has been heavily influenced by global political and economic circumstances and the country needs to be fully prepared for global issues.

Attending experts called for detailed policy responses to complicated external issues and stronger cooperation with major nations while prioritizing national interests, the ministry said.

The panel plans to hold a meeting on a quarterly basis for policy consultations, it added.

South Korea is an export-driven economy, being the world’s ninth-largest exporter as of 2022
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Source: Yonhap News Agency