Choi Sang-mok: "Excessive Volatility in Financial and Foreign Exchange Markets... Focusing on Market Stability"

Korea Economic Daily

Summary

Deputy Prime Minister Choi Sang-mok announced active measures against market volatility.
The government and the Bank of Korea plan to mobilize all market stabilization measures to manage volatility.
The influx of foreign low-price buying and the responsible role of institutional investors were emphasized.

Emergency Macroeconomic and Financial Issues Meeting Held

Deputy Prime Minister and Minister of Strategy and Finance, Choi Sang-mok, stated, "We will actively respond to excessive market volatility to reverse market sentiment."

At the 'Macroeconomic and Financial Issues Meeting' (F4 Meeting) held at the Korea Federation of Banks in Seoul on the 10th, Deputy Prime Minister Choi declared, "The government and the Bank of Korea have sufficient capacity to respond to the market."

He further emphasized, "Regardless of the political situation, the economic team, centered around the Deputy Prime Minister for Economic Affairs, will make every effort to manage the economy stably."

According to the Ministry of Strategy and Finance, participants reaffirmed their position, stating, "Given the solid fundamentals and external soundness of our economy, the expansion of volatility in the financial and foreign exchange markets is excessive," and "We will mobilize all market stabilization measures to respond."

In the stock market, foreign low-price buying is flowing in, and it was assessed that "institutional investors like pension funds should continue to play a responsible role, and individual investors need to make calm judgments."

Oh Se-seong, Hankyung.com reporter sesung@hankyung.com