Gov't activates emergency system in economic sector as exchange rate soars and stock market weakens

[Anchor]

Unlike the sharply rising U.S. stock market, our stock market did not receive much support.

The strong dollar caused the exchange rate to rise significantly, briefly reaching the 1,400 won level.

The government has decided to activate an emergency system across various economic sectors.

This is a report by Kim Jin-hwa.

[Report]

Following the confirmation of former President Trump's election, the won-dollar exchange rate has risen sharply.

Last night (Nov. 6), it surpassed 1,400 won for the first time in over seven months, and this morning (Nov. 7), it briefly rose to the 1,404 won level.

The exchange rate has surged vertically from the low 1,300 won range at the beginning of last month, and this trend is expected to continue for the time being due to geopolitical crises such as the Middle East war and the uncertainty of Trump's policies.

The problem is that volatility may increase after his inauguration.

[Byun Jeong-kyu/Executive Director of Mizuho Bank : "We don't know if he will continue the policies as they are, so market volatility will be very high, and we can expect this to last until the first half of next year."]

Our stock market also could not shake off the anxiety over Trump's election.

The KOSPI closed flat at the 2,560 level, while the KOSDAQ fell by 1.32%.

[Park Sang-hyun/iM Securities Researcher: "The issue of tariffs will ultimately have a negative impact on our country's export economy and the profit cycle of companies."]

The government has entered an emergency system, deciding to operate separate meetings in the financial market, trade, and industrial sectors.

[Choi Sang-mok/Economic Deputy Prime Minister: "The government will use the Economic Ministerial Meeting as a comprehensive control tower to ensure a proactive and seamless response."]

In particular, to resolve uncertainties in the industrial sector, it has announced plans to strengthen competitiveness centered on three key technologies: artificial intelligence, quantum computing, and biotechnology.

This is KBS News, Kim Jin-hwa.