Economy and security risks to be managed by presidential office

President-elect Yoon Suk-yeol stressed on Monday that “a strong economy means strong security and vise versa,” hinting that the National Security Council of the Presidential Office would be directly involved in managing any signs of risk if economic/security issues are found.

Yoon’s remarks came from a policy roundtable titled “Economic and security planning to overcome risks and become a global hub,” which was held at a hotel in Jongno-gu in Seoul by Seoul Forum for International Affairs. The event was attended by former Prime Minister Lee Hong-gu, former Environment Minister Kim Myeong-ja, SK Group Chairman Chey Tae-won, Chairman Koo Ja-yeol of the Korea Trade Association, Chairman Kim Yoon of Samyang Holdings, Professor Kim Byeong-yeon of Seoul National University.

Members of the forum requested Yoon to “form an integrated economic and security taskforce at the Presidential Office that could actively respond to comprehensive global risks.” “Security and economic issues will be dealt by the Prime Minister’s Office but escalated to the Presidential Office via the National Security Council should signs of crisis occur,” replied Yoon.

President-elect Yoon had promised during the presidential campaign to establish an Economic and Security Committee under the Prime Minister’s Office. However, he is considering to directly deal with the issues as global security issues continue to pose threats, such as U.S.- China conflicts and global supply chain issues impacted by Russia’s invasion of Ukraine.


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