Ministry of Finance and Economy

Statistics Korea released report on the 'Economically active population survey' on 16 October, 2026. The economically active population marked 29.866 million persons in September, which grew 78 thousand persons or 0.3% year-on-year. Please refer to the attached PDF.

On October 15, Deputy Prime Minister and Minister of Finance and Economy Lee Hyoung Il met with Japanese Finance Minister Katayama Satsuki in Bangkok, Thailand. During the meeting, the two ministers agreed to extend the Korea-Japan currency swap arrangement, which is set to expire this year, and discussed ways to further develop bilateral economic and financial cooperation.   Deputy Prime Minister Lee and Finance Minister Katayama shared the view that the foreign exchange (FX) authorities of both countries currently maintain sufficient foreign currency liquidity. Recognizing the importance of the currency swap arrangement as a symbol of financial cooperation and coordination between Korea and Japan, they agreed to extend the existing arrangement at its current size of USD 10 billion. The Korea-Japan currency swap arrangement was signed in December 2023 for a three-year term, with a total amount of USD 10 billion, and was scheduled to expire this year.   In addition, the two ministers agreed to hold the next Korea-Japan Finance Ministerial Dialogue in Korea at the earliest possible date, in line with the agreement reached at the 10th Korea-Japan Finance Ministerial Dialogue held in Tokyo in March. Please refer to the attached files. 

On October 14, Deputy Prime Minister and Minister of Finance and Economy Lee Hyung Il held a meeting with trade experts at the Government Complex Seoul to discuss the outlook for changes in the global trade environment and possible policy responses.   The meeting was convened to gather diverse views from experts, assess the potential impact on the Korean economy, and explore policy responses to prepare for uncertainties in the global trade environment stemming from political events and shifts in policy orientations in major economies.   Deputy Prime Minister Lee noted that uncertainty in the global trade environment persist amid rising economic nationalism and increasing trade barriers. He emphasized the need to closely assess how changes in the political and policy environments of major economies could affect external economic conditions and proactively prepare for a range of possible scenarios.   Participants reviewed various scenarios to assess how changes in the policy environments of major economies could affect trade policies, including tariffs and industrial policies, as well as external economic relations. They also discussed the potential implications for Korean companies’ exports and investments and possible policy responses.   Deputy Prime Minister Lee stated that changes in the global trade environment are critical issues that directly affect the competitiveness of Korean companies and economic growth. He added that the government will carefully monitor policy developments in major economies and maintain close communication with their governments to minimize trade uncertainties facing Korean companies.   He further emphasized that the government will respond promptly to immediate trade issues while also preparing for structural changes in the global trading order. Efforts will focus on strengthening coordination among relevant ministries and communication with industry stakeholders and experts, as well as enhancing the Korean economy’s capacity to address external challenges through export market diversification and expanded economic cooperation with major economies. Please refer to the attached files.