Emergency Meeting Led by Woori Financial Group Chairman
Shinhan and Hana Financial Groups Also Strengthen Monitoring
Major financial holding companies have entered emergency operations to prepare for increased market volatility following the U.S. airstrike on Iranian nuclear facilities.
On June 22, Woori Financial Group held an 'Emergency Inspection Meeting on the Middle East Situation' presided over by Chairman Jongryong Lim. During the meeting, Chairman Lim expressed concern that, based on past experience, the domestic financial and foreign exchange markets could react sensitively, with a rise in the won-dollar exchange rate and a decline in stock indices. He urged, "Please monitor the market situation closely and calmly focus on your respective duties."
Chairman Lim instructed that the market situation be monitored in real time and that the group's liquidity, asset soundness, and capital ratios be checked frequently. He also ordered prompt and seamless cooperation with government responses, as well as emergency support for export and domestic companies experiencing temporary funding difficulties.
Shinhan Financial Group has strengthened monitoring to respond to increased market volatility. With concerns over exchange rate and oil price volatility, the group plans to assess liquidity risks in the foreign exchange and money markets and activate its response system. In addition, Shinhan has established a support system based on macroeconomic analysis by research teams at both the group and subsidiary levels. The group also plans to review various measures to support the recovery of the real economy in the future.
Hana Financial Group is also monitoring funding rates in real time to prepare for potential liquidity crises and to maintain its role in ensuring smooth financial supply. To maintain capital adequacy, each affiliate checks for unusual trends by monitoring daily changes in assets. Hana Financial Group has prepared scenarios so that, if financial market uncertainty increases further and it is deemed necessary, the group can secure liquidity and support the real economy.
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