Presidential Office: "President Yoon Orders Agile Response to Stock Market Situation... Monitoring Activated"

"Tight and Proactive Cooperation Requested"

The KOSPI, which had plunged the previous day, closed at 2,522.15 on the 6th, up 80.60 points (3.3%). The KOSDAQ closed at 732.87, up 41.59 points (6.02%). The photo shows the dealing room at the Hana Bank headquarters in Jung-gu on the same day. [Image source=Yonhap News]

The Presidential Office stated on the 6th, "President Yoon Suk-yeol, while on summer vacation, monitored the global stock market crash the previous day and instructed a prompt response."

A Presidential Office official said, "With concerns about a hard landing in the U.S. economy still unresolved and high geopolitical risks in the Middle East, we will quickly deliver market stabilization messages if necessary and maintain a response system to take swift action."

On the same day, the KOSPI index closed at 2,522.15, up 80.60 points (3.3%) from the previous session. It recovered above the 2,500 level after the plunge caused by fears of a U.S.-origin recession the day before.

The stock price rebounded as buying demand flowed in due to perceptions of excessive decline, somewhat restoring investor sentiment.

The government held a macroeconomic and financial issues meeting (F4 meeting) chaired by the Deputy Prime Minister for Economic Affairs at 7:30 a.m., before the market opened, to deliver a market stabilization message.

During the trading session, Sung Tae-yoon, Chief of Policy at the Presidential Office, continuously received reports on overall market indicators such as stock prices and exchange rates, urging related agencies for "close and proactive coordinated responses."

A Presidential Office official emphasized, "We are operating a 24-hour joint monitoring system among related agencies and will thoroughly review contingency plans going forward."

This content was produced with the assistance of AI translation services.