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South Korea's top economic policymaker voiced concerns Friday over the recently growing geopolitical risks from North Korea and the deepening global uncertainty that could weigh on the country's economy.
"With mixed views on the global economic recovery, many risks are emerging simultaneously surrounding our economy," Finance Minister Hyun Oh-seok said during a meeting to discuss the broad direction of the government's strategy on the global market.
Hyun cited shrinking fiscal spending by major economies and unfolding currency-related woes as factors that are intensifying the global economic uncertainty. He also expressed worries over the heightened tensions caused by the almost daily war threats from North Korea.
He still emphasized the importance of turning the current challenging external risks into "opportunities" to raise the country's role and status on the global stage, adding that the government will push for its external market policy in achieving the goals.
"The government will seek a new set of economic policies targeting the global market, with a focus on taking well advantage of the current window of opportunities and strengthening our growth engines down the road," he said.