In the Martial Law and Impeachment Crisis, Financial Services Commission Chief Urges "Thorough Preparation for Market Stabilization Measures"

Presiding Over Financial Services Commission Executive Meeting on the 8th
"High Possibility of Increased Financial Market Volatility"

Yonhap News

On the 8th, Kim Byung-hwan, Chairman of the Financial Services Commission, stated, "There is a high possibility that volatility in the financial market will increase," and urged, "Please make thorough preparations to swiftly implement necessary market stabilization measures." This remark came amid growing uncertainty in domestic and international financial markets, following political turmoil caused by the declaration of martial law and the push for the president's impeachment, which had put the financial sector on high alert and emergency footing.

On the same day, after holding an 'Emergency Economic Ministers' Meeting' and a 'Macroeconomic and Financial Issues Briefing' in the afternoon, Chairman Kim convened a Financial Services Commission executive meeting and made these remarks. He said, "I ask the staff of the Financial Services Commission to keep in mind the grave responsibility they bear for the stability of our financial market and to do their utmost in their assigned duties."

He also mentioned, "Since there is a high possibility of increased volatility in the financial market, I hope that you will closely cooperate with related agencies and maintain vigilance to ensure thorough preparations for the swift implementation of necessary market stabilization measures."