Emergency Financial Situation Review Meeting Held by Financial Supervisory Service
Lee Bok-hyun, Governor of the Financial Supervisory Service, announced on the 4th that he would activate an emergency response system to prepare for market shocks caused by the United States' imposition of reciprocal tariffs and the impeachment of President Yoon Seok-yeol, and implement all available market stabilization measures.
On the same day, Governor Lee held an emergency financial situation review meeting in the afternoon and said, "All employees should remain vigilant within the emergency response system and be prepared to implement available market stabilization measures if necessary."
He described the domestic and international environment as a "serious situation" that is difficult to predict, mentioning concerns about trade wars due to retaliatory tariffs by country, the possibility of a global economic recession caused by reduced trade, and backlash against the U.S.-centered economic and financial system.
Governor Lee instructed, "Considering domestic and international uncertainties, volatility in the domestic market can expand at any time. Closely monitor trends in foreign exchange, stocks, bonds, and financial markets, and especially keep a close watch on the short- and long-term financing conditions of companies heavily impacted by tariff shocks."
He also requested, "Conduct a detailed analysis of the production and export impacts on domestic and overseas supply chains of major industries exposed to high tariffs, according to the shock transmission channels."
Governor Lee emphasized, "We will review various support measures to ensure smooth supply of necessary funds for companies' tariff responses and business restructuring. We will strengthen cooperation with related agencies and carefully inspect difficulties faced by small and medium-sized local partner companies in particular."
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