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South Korea's Finance Minister warns of economic slowdown due to political turmoil and won weakness.
South Korea's Finance Minister, Choi Sang-mok, warns of an economic slowdown due to political turmoil, which has weakened the South Korean won to a 15-year low.
Economic forecasts for this year and next are set to be revised downward, possibly below the 2% potential growth rate.
Choi emphasized the need for active fiscal policies without specifying if a supplementary budget will be required.
The Bank of Korea will collaborate to manage volatility in the foreign exchange market.
Exports, a key growth driver, are also slowing, adding to economic concerns.
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