Deputy Prime Minister and Minister of Finance and Economy Koo Yun Cheol chaired the first meeting on macroeconomic, fiscal and financial issues on April 1, 2026 at the Government Complex Seoul. With the attendance of Minister of Planning and Budget Park Hong-geun and Chairman of the Financial Services Commission Lee Eok-weon, the meeting focused on discussing policy responses to the ongoing Middle East conflict.

In light of the heightened macroeconomic volatility, coordinating major policy tools—including fiscal policy, taxation, finance, and foreign exchange—has become paramount. This inaugural meeting thus aims to find the optimal policy mix and solidify a framework for close cooperation.

The participants shared the view that, as uncertainty surrounding the Middle East situation has persisted for five weeks, there are growing concerns about its impact not only on the real economy and financial markets but also on vulnerable groups. In this regard, they underscored the importance of the swift passage and execution of the supplementary budget proposal recently submitted to the National Assembly. They also committed to making all-out efforts to ensure close communication and cooperation with the National Assembly during the deliberation process, and to thoroughly prepare for immediate execution once the budget is approved.

Given the high level of uncertainty, the participants agreed to proactively review and prepare available policy measures in case the conflict becomes prolonged, and to respond swiftly when necessary.

Going forward, they agreed to hold the meeting on a monthly basis to discuss not only current macroeconomic issues but also structural challenges such as inequality and declining potential growth, while ensuring consistent and timely policy responses through close coordination among the relevant authorities.

Please refer to the attached files.