F4 Gathered in One Place: "Last Week's Stock Market Mostly Recovered from Declines"

Choi Sang-mok, Deputy Prime Minister for Economy and Minister of Strategy and Finance, is presiding over an emergency macroeconomic and financial issues meeting on the 16th at the Korea Federation of Banks in Jung-gu, Seoul. Photo by Ministry of Strategy and Finance

Economic and financial leaders evaluated that "last week's stock market mostly recovered the previous declines due to the government's and Bank of Korea's proactive market stabilization measures and continued buying by institutional investors." They diagnosed that government bond yields are maintaining a "stable level," and the foreign exchange market is "showing signs of reduced volatility."

On the 16th, Choi Sang-mok, Deputy Prime Minister and Minister of Economy and Finance, held an emergency macroeconomic and financial issues meeting (F4) at the Bankers Association Hall in Jung-gu, Seoul, together with Lee Chang-yong, Governor of the Bank of Korea, Kim Byung-hwan, Chairman of the Financial Services Commission, and Lee Se-hoon, First Vice Chairman of the Financial Supervisory Service, reaching this consensus.

However, the attendees agreed that due to ongoing domestic and international uncertainties stemming from recent political situations and the inauguration of the new U.S. administration, the situation remains concerning. Therefore, they decided to continue 24-hour monitoring of the financial and foreign exchange markets centered on the emergency macroeconomic and financial issues meetings. They also agreed to accelerate key policies such as value-up initiatives, inclusion in the World Government Bond Index (WGBI), and advancement of capital and foreign exchange markets.

Meanwhile, the Ministry of Economy and Finance announced plans to continue efforts to maintain external credibility through hosting Korea Economic Briefings (IR), appointing ambassadors for international finance and investment cooperation, operating a government-wide foreign investor ombudsman task force, and strengthening foreign investment incentives.