Economic and Finance Head (F4) Ahead of Impeachment Vote, "If Volatility Is Excessive, Additional Measures"

Today, a day before the National Assembly's impeachment vote on President Yoon, economic and financial chiefs have decided to implement additional market stabilization measures if market volatility is excessive.

Deputy Prime Minister and Minister of Strategy and Finance Choi Sang-mok, Bank of Korea Governor Lee Chang-yong, Financial Services Commission Chairman Kim Byung-hwan, and Financial Supervisory Service Chairman Lee Bok-hyun held the ninth emergency meeting on macroeconomic and financial issues since martial law at the Federation of Banks Hall today.

Attendees said they were preparing this weekend while keeping a close eye on the political situation, stressing that they would implement additional market stabilization measures in a timely manner if there was excessive volatility.

Participants said that Korea's credit rating remains stable despite the recent political situation after a video interview with the deputy prime minister, and that the fact that Korea's institutional strength and resilience were felt this time is a reaffirmation of the international community's confidence in the Korean economy.

In particular, the S&P said that despite the recent situation, the most important part for credit rating agencies is that Korea's national system worked well, and that the government and the BOK's swift market stabilization measures immediately after martial law are examples of how robust the Korean economic system is.