Financial Services Commission "Bonds and Short-Term Fund Stabilization Finances Remaining More Than 27 Trillion"

Kim So-young, vice chairman of the Financial Services Commission, said, "As of the end of last month, there are more than 27 trillion won left to stabilize the bond and short-term fund markets," adding, "The available financial resources will increase further early next year."

Vice Chairman Kim So-young made the remarks at a meeting of financial market issues inspection and communication with financial sector, credit rating agencies and academic experts on the 13th.

"As the recent series of events is not a structural problem in the Korean economy, but an exceptional temporary shock, the financial market will gradually stabilize," he said.

Vice Chairman Kim said that the 40 trillion won bond and short-term fund market stabilization program, which is currently in operation, will be operated by the end of next year, and explained that there are enough funds left to stabilize the bond and short-term fund markets, including 14.4 trillion won in bond market stabilization funds, corporate bonds at policy financial institutions, and 8.1 trillion won in corporate paper purchase programs.

In addition, he said that the supply of 2.8 trillion won worth of primary bond-backed securities will increase further when the supply program is operated early next year, and that the existing program will be expanded quickly if necessary.