Eun Sung-soo: "Closely Monitoring Increased Volatility Due to US Presidential Election... Maintaining Emergency Inspection System"

[Image source=Yonhap News]

[Asia Economy Reporter Park Sun-mi] Eun Sung-soo, Chairman of the Financial Services Commission, stated on the 6th at the 'Financial Market Situation Review Meeting' held to assess the impact of the U.S. presidential election that, due to the potential increase in financial market volatility caused by the election aftermath, they are maintaining vigilance and closely monitoring the situation.

Chairman Eun said, "Since there are factors that could increase volatility in domestic and international financial markets, such as ongoing lawsuits related to the U.S. presidential election, we will maintain an emergency monitoring system with caution."

Additionally, he expressed concern over recent confirmed COVID-19 cases occurring at financial institution call centers despite the Financial Services Commission's quarantine guidelines, stating, "As the number of new COVID-19 confirmed cases has reached triple digits, it is necessary to manage this thoroughly to prevent it from becoming a factor of instability in the financial market."

Chairman Eun also urged, "Please make efforts to create conditions for the sound development of the capital market, such as completing improvements to the market maker system, expanding individual short-selling opportunities, and improving the initial public offering (IPO) system within this year."

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