Choi Sang-mok, Deputy Prime Minister and Minister of Economy and Finance (left), Lee Chang-yong, Governor of the Bank of Korea (right), and Kim Byung-hwan, Chairman of the Financial Services Commission (center), are leaving the meeting room with serious expressions after concluding a closed-door emergency macroeconomic and financial issues meeting held on the 4th at the Korea Federation of Banks in Jung-gu, Seoul.
On the 4th, all financial and foreign exchange markets, including the stock market, will open normally.
Choi Sang-mok, Deputy Prime Minister and Minister of Economy and Finance, Lee Chang-yong, Governor of the Bank of Korea, Kim Byung-hwan, Chairman of the Financial Services Commission, and Lee Bok-hyun, Governor of the Financial Supervisory Service, held an 'Emergency Macroeconomic and Financial Issues Meeting (F4)' at 7 a.m. at the Seoul Federation of Banks building and made this decision.
The government explained that since the lifting of martial law, the foreign exchange market and overseas Korean stock markets have gradually stabilized. After President Yoon Seok-yeol's declaration of martial law at 10:30 p.m. on the 3rd, the won-dollar exchange rate (NDF) surged to 1,444 won but closed at 1,415.8 won. The Ministry of Economy and Finance stated that domestic banks' foreign currency procurement is also being smoothly refinanced.
The attendees agreed to supply unlimited liquidity until the stock, bond, short-term fund, and foreign currency fund markets are fully normalized. They also emphasized that a government-wide joint real-time monitoring system will be operated to closely watch the financial market situation and that all necessary measures to stabilize the market will be promptly implemented if needed.
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