Seoul launches new consultation body of top finance officials for macroeconomic response | Yonhap News Agency

## Summary
OK SEOUL, April 1 (Yonhap) -- A new policy consultation council of the country's top finance officials kicked off Wednesday in a bid to bolster cooperation among economy-related authorities in devising macroeconomic policies amid heightening global uncertainties, government officials said. The trilateral council, comprising Finance Minister Koo Yun-cheol, Budget Minister Park Hong-keun and Financial Services Commission Chairman Lee Eog-weon, held its inaugural meeting and discussed possible responses to geopolitical turmoil in the Middle East as its first item, according to the officials. Budget Minister Park Hong-keun, Finance Minister Koo Yun-cheol and Financial Services Commission Chairman Lee Eog-weon (from L to R) hold their inaugural macroeconomic policy consultation meeting at the government complex in Seoul on April 1, 2026. (Yonhap) nyway@yna.co.kr (END) Related Articles Gov't proposes 26.2 tln-won extra budget to cushion impact of Middle East tensions Finance minister hints at expanding vehicle rotation system to private sector if oil prices further rise Keywords #finance chiefs Articles with issue keywords Most Liked (2nd LD) Han Kang's 'We Do Not Part' wins NBCC Award for haunting portrayal of trauma Paik Kun-woo, at 80, says 'Music chose me' (Movie Review) 'Salmokji: Whispering Water': mood runs deeper than plot (News Focus) Han Kang's NBCC win again spotlights art of translation (LEAD) BTS scores 7th No. 1 album on Billboard 200 with 'Arirang' Most Saved (2nd LD) Han Kang's 'We Do Not Part' wins NBCC Award for haunting portrayal of trauma (News Focus) Han Kang's NBCC win again spotlights art of translation Paik Kun-woo, at 80, says 'Music chose me' (Movie Review) 'Salmokji: Whispering Water': mood runs deeper than plot Liberal ex-prime minister to declare mayoral bid in conservative stronghold Most Viewed All Categories (LEAD) Lee urges bold measures to cope with concerns about energy situation, including emergency economic decree if needed Gov't proposes 26.2 tln-won extra budget to cushion impact of Middle East tensions Korean Air to enter emergency management mode over soaring fuel costs (LEAD) Trump calls on countries to 'go get your own oil' from Strait of Hormuz, or buy it from U.S. Korea Tass news agency's delegation in Pyongyang prev Seoul launches new consultation body of top finance officials for macroeconomic response Next Seoul launches new consultation body of top finance officials for macroeconomic response

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SEOUL, April 1 (Yonhap) -- A new policy consultation council of the country's top finance officials kicked off Wednesday in a bid to bolster cooperation among economy-related authorities in devising macroeconomic policies amid heightening global uncertainties, government officials said.
The trilateral council, comprising Finance Minister Koo Yun-cheol, Budget Minister Park Hong-keun and Financial Services Commission Chairman Lee Eog-weon, held its inaugural meeting and discussed possible responses to geopolitical turmoil in the Middle East as its first item, according to the officials.
The council has been established to help authorities find an optimal policy mix and create a close coordination system amid rapid shifts in macroeconomic conditions surrounding South Korea, the officials said.
In Wednesday's meeting, the finance chiefs agreed that swift parliamentary approval and execution of a 26.2 trillion-won (US$17.4 billion) supplementary budget, proposed Tuesday by the government, are needed to minimize the impact of the Iran war on the South Korean economy and financial markets, as well as the livelihoods of vulnerable households, they added.
Budget Minister Park Hong-keun, Finance Minister Koo Yun-cheol and Financial Services Commission Chairman Lee Eog-weon (from L to R) hold their inaugural macroeconomic policy consultation meeting at the government complex in Seoul on April 1, 2026. (Yonhap)
nyway@yna.co.kr
(END)
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Seoul launches new consultation body of top finance officials for macroeconomic response
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Seoul launches new consultation body of top finance officials for macroeconomic response

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## Expert Analysis

### Merits
- Korea's strong backlash against growing S.

### Areas for Consideration
- Budget Minister Park Hong-keun, Finance Minister Koo Yun-cheol and Financial Services Commission Chairman Lee Eog-weon (from L to R) hold their inaugural macroeconomic policy consultation meeting at the government complex in Seoul on April 1, 2026. (Yonhap) nyway@yna.co.kr (END) Related Articles Gov't proposes 26.2 tln-won extra budget to cushion impact of Middle East tensions Finance minister hints at expanding vehicle rotation system to private sector if oil prices further rise Keywords #finance chiefs Articles with issue keywords Most Liked (2nd LD) Han Kang's 'We Do Not Part' wins NBCC Award for haunting portrayal of trauma Paik Kun-woo, at 80, says 'Music chose me' (Movie Review) 'Salmokji: Whispering Water': mood runs deeper than plot (News Focus) Han Kang's NBCC win again spotlights art of translation (LEAD) BTS scores 7th No. 1 album on Billboard 200 with 'Arirang' Most Saved (2nd LD) Han Kang's 'We Do Not Part' wins NBCC Award for haunting portrayal of trauma (News Focus) Han Kang's NBCC win again spotlights art of translation Paik Kun-woo, at 80, says 'Music chose me' (Movie Review) 'Salmokji: Whispering Water': mood runs deeper than plot Liberal ex-prime minister to declare mayoral bid in conservative stronghold Most Viewed All Categories (LEAD) Lee urges bold measures to cope with concerns about energy situation, including emergency economic decree if needed Gov't proposes 26.2 tln-won extra budget to cushion impact of Middle East tensions Korean Air to enter emergency management mode over soaring fuel costs (LEAD) Trump calls on countries to 'go get your own oil' from Strait of Hormuz, or buy it from U.S.

### Implications
- OK SEOUL, April 1 (Yonhap) -- A new policy consultation council of the country's top finance officials kicked off Wednesday in a bid to bolster cooperation among economy-related authorities in devising macroeconomic policies amid heightening global uncertainties, government officials said.
- The council has been established to help authorities find an optimal policy mix and create a close coordination system amid rapid shifts in macroeconomic conditions surrounding South Korea, the officials said.
- In Wednesday's meeting, the finance chiefs agreed that swift parliamentary approval and execution of a 26.2 trillion-won (US$17.4 billion) supplementary budget, proposed Tuesday by the government, are needed to minimize the impact of the Iran war on the South Korean economy and financial markets, as well as the livelihoods of vulnerable households, they added.
- Budget Minister Park Hong-keun, Finance Minister Koo Yun-cheol and Financial Services Commission Chairman Lee Eog-weon (from L to R) hold their inaugural macroeconomic policy consultation meeting at the government complex in Seoul on April 1, 2026. (Yonhap) nyway@yna.co.kr (END) Related Articles Gov't proposes 26.2 tln-won extra budget to cushion impact of Middle East tensions Finance minister hints at expanding vehicle rotation system to private sector if oil prices further rise Keywords #finance chiefs Articles with issue keywords Most Liked (2nd LD) Han Kang's 'We Do Not Part' wins NBCC Award for haunting portrayal of trauma Paik Kun-woo, at 80, says 'Music chose me' (Movie Review) 'Salmokji: Whispering Water': mood runs deeper than plot (News Focus) Han Kang's NBCC win again spotlights art of translation (LEAD) BTS scores 7th No. 1 album on Billboard 200 with 'Arirang' Most Saved (2nd LD) Han Kang's 'We Do Not Part' wins NBCC Award for haunting portrayal of trauma (News Focus) Han Kang's NBCC win again spotlights art of translation Paik Kun-woo, at 80, says 'Music chose me' (Movie Review) 'Salmokji: Whispering Water': mood runs deeper than plot Liberal ex-prime minister to declare mayoral bid in conservative stronghold Most Viewed All Categories (LEAD) Lee urges bold measures to cope with concerns about energy situation, including emergency economic decree if needed Gov't proposes 26.2 tln-won extra budget to cushion impact of Middle East tensions Korean Air to enter emergency management mode over soaring fuel costs (LEAD) Trump calls on countries to 'go get your own oil' from Strait of Hormuz, or buy it from U.S.

### Expert Commentary
This article covers finance, officials, minister topics. Notable strengths include discussion of finance. Areas of concern are also raised. Readability: Flesch-Kincaid grade 0.0. Word count: 510.