MoEF Checks Impact of 'Israel-Hamas' Situation... "Widening Oil Price Fluctuations"

The Ministry of Economy and Finance announced on the 9th that it held an emergency joint market situation inspection meeting with related agencies such as the Bank of Korea, the Financial Services Commission, and the Financial Supervisory Service to urgently assess the impact of the Israel-Hamas conflict on domestic and international financial and foreign exchange markets.

The related agencies evaluated that although the fluctuation range of international oil prices has expanded due to the current situation, the movements in the international financial markets are still limited considering that it is the early stage of the conflict.

However, they noted that uncertainty regarding the future development of the situation is very high, raising concerns about increased volatility in global financial markets.

Accordingly, they decided to maintain vigilance by monitoring the domestic and international financial and foreign exchange market situations in real time and to respond swiftly in cooperation with related agencies according to contingency plans if necessary.