South Korea finance minister vows to manage economy stably until election

SEOUL: South Korea's finance minister said on Friday the government would make an all-out effort to manage Asia's fourth-largest economy in a stable manner over the next two months ahead of a snap presidential election.

Minister Choi Sang-mok made the comment at a meeting with other economy-related ministers, after a court ruling upholding the impeachment of President Yoon Suk Yeol set in motion a race to elect a new president within 60 days.

Earlier this week, the country's opposition-controlled parliament also introduced a motion to impeach Choi, who served as acting leader for around three months after the impeachment of Yoon and Prime Minister Han Duck-soo. Han was reinstated last month as acting president.

Later on Friday, Choi sent a letter to global credit rating agencies, counterparts in major countries, international organisations and foreign investment banks repeating his pledge to do his utmost to manage the economy and seeking their support, according to the ministry.