Chinanews, October 18, according to South Korea's "Joongang Ilbo", recently, South Korea's Deputy Prime Minister and Minister of Planning and Finance Hong Namki held a South Korean economic investment briefing in New York. Regarding Japan’s economic retaliation, he said that the two sides are in private contact, and in any case the conflict between South Korea and Japan must be ended within the year.
Data map: South Korean Prime Minister Lee Luoyuan. Photographed by China News Agency reporter Luo Yunfei
According to reports, during a seminar in New York with South Korean reporters, Hong Nanji talked about the losses caused by Japanese export restrictions to South Korean companies, saying, “No company has declared the purchase of parts and materials. There are difficulties, but because of the uncertainty, companies are very difficult to survive." He said, "No matter what method is used, the conflict between South Korea and Japan must be ended within this year." "In addition to the WTO prosecution and negotiation, the two sides are still adopting Contact through other channels."
Hong Nanji said: "Premier Li Luoyuan’s attendance at the Emperor of Japan’s ascension ceremony (October 22) can be a good turning point. Although it is still unpredictable, this move is for Li Luoyuan and the Prime Minister of Japan. Shinzo Abe created the opportunity to meet, which is an improvement in itself." He said that at the annual meeting of the International Monetary Fund and the World Bank, South Korea does not intend to sharply confront Japan. He said: "We will not officially name Japan, nor will we retaliate with Japan on export restrictions. But we must not disrupt the international value chain (supply network), which will be the theme of this conference. One."
Regarding the possibility of deflation, he said, "The government is also vigilant about the possibility of deflation. The price drop is only a temporary phenomenon. It has not yet entered a state of deflation, nor is it worried about deflation. "
" "The South Korean economy has three major buffers including solid external soundness, a solid fiscal foundation, and a balanced industrial organization, and it has strong resilience." Hong Nanji said, "The current government is stimulating the economy through expansionary fiscal policies. , And lowered the interest rate.”
also said that although the external environment is more uncertain, South Korea’s economy is in the “30-50 club (referring to a country with a per capita national income of more than US$30,000 and a population of more than 50 million)” It still maintains a high level of economic growth, and its fiscal and external soundness is better than other developed countries. However, he pointed out that household debt and the trade conflict between South Korea and Japan are still risk factors for the South Korean economy.
