Financial authorities said they would use all possible means of stabilizing the market, including unlimited liquidity supply, to cope with market instability, as financial markets fluctuated, with Yoon Suk Yeol's declaration of an emergency decree sending the exchange rate soaring.
Deputy Prime Minister and Minister of Strategy and Finance Choi Sang-mok made the remarks after holding an emergency meeting on macroeconomic and financial issues with the Governor of the Bank of Korea, the Chairman of the Financial Services Commission and the Director of the Financial Supervisory Service at 11:40 p.m. yesterday.
Financial authorities said they would mobilize all possible means of stabilizing the financial and foreign exchange markets, including unlimited liquidity supply, to cope with possible market instability that may emerge after the declaration of an emergency decree.
In addition, an emergency meeting on macroeconomic and financial issues will be held every day after today to regularize the crisis management system, and more specific additional market stabilization measures will be reviewed by each agency and announced quickly from this morning.
In addition, the participants stressed that they will do their best to stabilize the national economy in preparation for all situations, the ministry said.
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