Go Seung-beom "Continued Expansion of Financial Market Volatility... Strengthening Monitoring"

Financial Services Commission Chairman Ko Seung-beom attended the National Assembly's Public Administration and Security Committee's audit of the Financial Services Commission held at the National Assembly on the 6th and is reporting on his duties. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Lee Kwang-ho] Ko Seung-beom, Chairman of the Financial Services Commission, emphasized on the 7th that volatility is expected to continue expanding for the time being amid the recent intensification of volatility in the financial markets, urging meticulous monitoring and timely response.

Chairman Ko made these remarks while reviewing financial market trends and risk factors with executives from the Financial Policy Bureau and the Capital Market Bureau on the same day.

Chairman Ko diagnosed, "The recent intensification of volatility in the domestic stock market is mainly due to overseas adverse factors such as prolonged global inflation, U.S. tapering and government debt ceiling issues, China's power shortage, and the Evergrande Group issue."

He added, "Since volatility is expected to continue expanding for the time being, please monitor the market situation closely with a sense of vigilance."

Chairman Ko pointed out, "Considering the solid corporate earnings and favorable macroeconomic conditions, it is not desirable to have excessive anxiety."

He continued, "Please work closely with related organizations such as the Ministry of Economy and Finance, the Financial Supervisory Service, and the Korea Exchange to keep a close watch on domestic and foreign investor trends, and respond promptly if volatility becomes excessive to prevent unnecessary market instability from spreading."