Financial Labor Union Holds Emergency Forum at National Assembly Amid Market Instability Triggered by Impeachment

Office of Park Hong-bae and Kim Hyun-jung
Expert Panel Discussion at 10 AM on the 13th

The National Financial Industry Labor Union (Jeongeumno) recently announced that it will hold an emergency roundtable discussion at 10 a.m. on the 13th at the National Assembly Members' Office Building in response to financial market instability caused by the martial law and impeachment political crisis.

The Bank of Korea has recently undertaken emergency liquidity supply measures, including the purchase of repurchase agreements (RP) worth 151 trillion won to stabilize the market, but uncertainty in the financial market continues. In particular, accelerated outflows of foreign investment funds are raising concerns about the depreciation of the Korean won and increased stock price volatility.

This roundtable is co-hosted by the Democratic Party's Party Leader's Economic Advisory Group and the offices of Representative Park Hong-bae (Special Advisor on the People's Economy) and Representative Kim Hyun-jung (Strategic Advisor), and organized by Jeongeumno and the Financial Economy Research Institute. Numerous experts in finance and economics will participate to seek effective countermeasures. Key discussion topics include ▲policy measures for financial market stabilization ▲measures to restore corporate investment sentiment ▲support measures for vulnerable groups and small business owners.

Kang Young-dae, chairman of the Bank of Korea labor union, will present, and academic experts such as Professor Joo Byung-ki of Seoul National University and Professor Joo Dong-hyun of Hanyang University will participate as discussants. The financial labor union stated, "International credit rating agencies have warned of the possibility of a downgrade in Korea's sovereign credit rating if political uncertainty continues, requiring active market stabilization measures from financial authorities. Since preemptive measures to minimize the impact of financial market instability on the real economy are urgent, we will derive concrete solutions through this roundtable."