FSC says it will deploy a ₩100 trillion-plus market-stabilization program if needed amid Middle East turmoil

South Korea’s financial authorities said they could immediately implement a ₩100 trillion market-stabilization program if necessary, as tensions in the Middle East persist following the death of Iran’s Supreme Leader Ayatollah Seyyed Ali Khamenei in an attack by the United States and Israel.

According to the industry on the 1st, Financial Services Commission Chairman Lee Eok-won convened an emergency meeting at the Government Complex Seoul to review financial market conditions, saying, “The outlook for developments in the Middle East remains uncertain,” and adding, “If the situation becomes protracted, it could affect domestic financial markets and the real economy, so we must maintain heightened vigilance and closely monitor the domestic economy and financial market conditions.”

Lee said the FSC has activated an “emergency response financial markets team,” led by the head of the FSC secretariat, with relevant institutions including the Ministry of Finance and Economy and the Bank of Korea participating, and ordered ongoing monitoring. He also instructed that, if necessary, prearranged financial market stabilization measures (Contigency Plan) be implemented, including a “₩100 trillion+α” market-stabilization program.