Seoul: Finance Minister Koo Yun-cheol on Tuesday called for closer cooperation from major exporters as the government prepares measures to stabilize the foreign exchange (FX) market amid a weakening Korean won. Koo delivered the message during a meeting with executives from Samsung Electronics Co., SK hynix Inc., and other major exporters to discuss large-scale investment plans in the United States as part of a long-awaited tariff deal.

According to Yonhap News Agency, the Ministry of Economy and Finance reported that Koo emphasized the importance of collaboration with major exporters, who are pivotal in FX supply and demand, to stabilize the currency. He requested continued cooperation from these companies to achieve this goal. The finance minister also commended the exporters for maintaining outbound shipments despite global challenges and assured that investments linked to the tariff agreement would support both national interests and corporate competitiveness.

After extended negotiations over the tariff policies introduced by the Donald Trump administration, Seoul and Washington finalized a deal last week. The joint fact sheet released outlined South Korea's US$350 billion investment plans in the U.S., in exchange for a reduction of U.S. tariffs from 25 percent to 15 percent.

Koo further stated that the government plans to significantly increase next year's budget to support exporters and implement measures to diversify export markets and reduce regulatory burdens. Meeting participants highlighted the necessity for export profits to be reinvested domestically to enhance productivity and sustain South Korea's economic competitiveness, as reported by the ministry.