South Korea's top economic policymakers said Tuesday that volatility in the country's financial and foreign exchange markets is expected to persist, pledging to maintain close monitoring of the situation with heightened vigilance.
The remarks were made during an emergency meeting convened by Finance Minister Choi Sang-mok, with the participation of the heads of the Bank of Korea, the Financial Services Commission and the Financial Supervisory Service, according to the Ministry of Economy and Finance.
During the meeting, the participants assessed that external factors, rather than domestic ones, are currently driving volatility in the financial markets, the ministry said.
On Monday, the benchmark Korea Composite Stock Price Index plunged by more than 5.5 percent, marking a fourth consecutive day of losses as investors were shaken by concerns over an escalating global trade war, exacerbated by reciprocal tariffs imposed by the United States. The South Korean won also experienced its sharpest decline against the US dollar since the COVID-19 pandemic.
The top economic policymakers acknowledged that the fluctuations in domestic financial and foreign exchange markets are likely to continue for some time, agreeing to remain highly vigilant and continue monitoring market conditions closely, the ministry added. (Yonhap)
