Director Lee Bokhyun of the Financial Supervisory Service: "Financial Market Volatility Could Increase at Any Time"

FSS Holds Expanded Financial Situation Inspection Meeting
Director Lee Bokhyun Stresses Vigilance Amid Heightened Market Uncertainty

The Financial Supervisory Service announced on the morning of the 2nd that it held an expanded financial situation inspection meeting chaired by Director Lee Bokhyun (photo) to review financial market trends and discuss future response directions. Photo by Financial Supervisory Service.

The Financial Supervisory Service announced that on the morning of May 2, it held an expanded financial situation inspection meeting at its headquarters in Yeouido, Seoul, chaired by Director Lee Bokhyun, to review financial market trends and discuss future response directions.

Director Lee cautioned, "Under the current uncertainty in trade policy, not only Korea but also the United States experienced negative GDP growth in the first quarter, which is intensifying economic instability. As a result, financial market volatility could increase at any time."

He continued, "We are facing an urgent situation ahead of major issues such as economic stimulus and trade negotiations. Therefore, we must not be swayed by changes in the domestic political landscape or shifts in the economic control tower. Under the F4 system centered on the acting Deputy Prime Minister for Economic Affairs, we must address key issues without wavering and ensure financial stability."

Director Lee emphasized, "We will maintain a 24-hour emergency monitoring and response system, and in the event of market instability, we will respond immediately in cooperation with relevant agencies such as the Ministry of Economy and Finance, the Financial Services Commission, and the Bank of Korea. We must conduct a precise assessment of the tariff impact by industry, closely monitor the difficulties faced by upstream and downstream companies, and prepare for any instability that may arise during the process of responding to tariffs."

He added, "We must thoroughly manage the financial sector's funding situation and emergency response plans to ensure that temporary increases in market volatility or localized soundness issues do not spread to overall market instability. In addition, we will respond closely through the emergency response headquarters to prevent secondary damages such as fraudulent financial transactions resulting from the telecom hacking incident, and we will strengthen security inspections in the financial sector to prepare for additional cyberattacks."