The government has assessed that the impact of U.S. President Donald Trump’s declaration of direct rule over Venezuela and North Korea’s ballistic missile launch on domestic and international financial markets and the real economy would likely be limited.
On Monday morning, the government convened an Emergency Economic Situation Assessment Meeting, led by Vice Minister of Finance and Economy Kang Gi-ryong.
The meeting was conducted via conference call and included representatives from the Ministry of Finance, the Ministry of Foreign Affairs, the Ministry of Trade, Industry, and Energy, the Financial Services Commission, the Bank of Korea, the Financial Supervisory Service, and the International Financial Center.
Participants noted that despite the emergence of geopolitical risks, such as the U.S. operation to arrest Venezuelan President Nicolás Maduro and North Korea’s missile launches, the current situation would not significantly impact the markets.
On January 3, the U.S. launched an operation in Venezuela, successfully capturing President Maduro on drug terrorism charges. Following this, President Trump held a press conference at his Mar-a-Lago estate in Florida, declaring that the U.S. will govern Venezuela until a safe, appropriate, and wise transfer of power occurs. This effectively formalized the U.S.’s intention to directly intervene in Venezuela’s governance.
President Trump explained that U.S. military and law enforcement officials successfully apprehended Maduro in a nighttime operation. He added that Maduro and his wife, Cilia Flores, would face charges of drug terrorism in the Southern District Court of New York, subjecting them to the U.S. judicial system.
The government plans to closely monitor developments related to the situation in Venezuela and North Korean provocations, ensuring thorough risk management.
The government stated that it will closely monitor future developments, domestic and international financial market trends, and the real economy, and respond as necessary in close cooperation among relevant agencies.