Bank of Korea Holds Situation Review Meeting During Chuseok Holiday... Strengthening International Financial Monitoring

[Image source=Yonhap News]

[Asia Economy Reporter Eunbyeol Kim] The Bank of Korea announced on the 29th that it will strengthen monitoring of international financial market movements even during the Chuseok holiday period, considering the high external uncertainties. This is intended to continuously check the situation as volatility in the international financial markets has increased recently due to the spread of the novel coronavirus infection (COVID-19).

First, during the holiday period, the head office's foreign exchange operations team and overseas offices located in major financial centers (New York, London, Frankfurt, Tokyo) will conduct 24-hour monitoring in coordination. They will monitor international financial markets and Korea-related indicators.

Additionally, on the last day of the holiday, October 4th, a situation review meeting will be held chaired by Lee Seungheon, the Deputy Governor of the Bank of Korea. This meeting will comprehensively review changes in the international financial market situation during the holiday period and their potential impact on the domestic financial and foreign exchange markets.