Seoul: The finance ministry announced Wednesday the formation of a task force composed of various ministries and private entities aimed at enhancing exports and sustaining economic growth momentum.

According to Yonhap News Agency, the public-private Export Plus Support Task Force will be led by the first vice finance minister. It will include officials from seven other government ministries, such as the industry and foreign ministries, along with representatives from the Export-Import Bank of Korea and the Korea Trade-Investment Promotion Agency, as per the Ministry of Finance and Economy.

This newly established team is an evolution of an existing export support unit. It aims to provide tailored and comprehensive assistance to exporters in areas like financing and overseas market expansion to effectively adapt to global environmental changes.

A ministry official stated, "We will strengthen cooperation among relevant ministries and agencies to effectively address complex challenges and establish an integrated support system."

Exports play a crucial role in South Korea's economic growth, with monthly exports surpassing $80 billion for the first time in March, fueled by strong semiconductor shipments, according to government data.