Lee Bok-hyun "Compared to Market Volatility..."Carefully Examine Financial Companies' Response to Crisis"

Lee Bok-hyun, head of the Financial Supervisory Service, emphasized checking financial companies' capacity to respond to crises, saying, "As the U.S. is cautious about the path of interest rate cuts next year, market volatility is expected to increase in the short term, such as rising market interest rates and strengthening the exchange rate."

In a meeting to check the financial situation immediately after the U.S. Fed's Federal Open Market Committee, Lee said, "This is a very important time to determine the direction of our economy and finance."

Lee said, "We need to be prepared to ensure that all market stabilization measures that can be mobilized in the event of market fluctuations can be implemented immediately," adding, "We need to check the financial companies' ability to respond to crises and ensure that the risks of vulnerable companies do not spread to the entire business sector."

It also urged small business owners, self-employed people, and local real estate to find ways to support people's livelihoods, consult with related departments such as the Financial Services Commission, and check the time difference and path through which the base rate cut is delivered to the loan rate to induce rational lending practices.