Deputy Finance Minister: "Monitoring Bond Market... Implementing Market Stabilization Measures if Necessary"

Emergency Economic Task Force Meeting

Bang Gi-seon, First Vice Minister of Strategy and Finance [Photo by Yonhap News]

[Asia Economy Sejong=Reporter Son Seon-hee] As volatility increased with a sharp rise in domestic bond market interest rates due to the impact of the U.S.'s high-intensity tightening, the government announced on the 23rd that it "plans to implement market stabilization measures if necessary."

Bang Ki-seon, the 1st Vice Minister of the Ministry of Economy and Finance, held an emergency economic task force (TF) meeting within the ministry in the afternoon and stated, "We are closely monitoring the bond market situation today." Earlier that morning, the yields on 3-year and 10-year government bonds surged to the 4.2% range.

During the meeting, the Ministry of Economy and Finance reported that they reviewed the trends in the Korean financial and bond markets, which showed volatility following the U.S. Federal Reserve's Federal Open Market Committee (FOMC) meeting the previous day, and discussed response strategies.