Emergency Monetary Policy Meeting on the Morning of the 4th Following "Martial Law Declaration" by the Bank of Korea... "Discussion on Market Stabilization Measures"

Deputy Prime Minister Choi Sang-mok Also Calls Additional Meeting at 7 AM

The Financial Monetary Policy Committee (FOMC) of the Bank of Korea will hold an emergency meeting on the morning of the 4th. This is to discuss market stabilization measures following President Yoon Seok-yeol's declaration of martial law. The Bank of Korea will also convene an 'Emergency Meeting to Respond to Market Conditions' with all executives attending during the morning.

Lee Bok-hyun, Governor of the Financial Supervisory Service, Lee Chang-yong, Governor of the Bank of Korea, Choi Sang-mok, Deputy Prime Minister and Minister of Economy and Finance, and Kim Byung-hwan, Chairman of the Financial Services Commission (from left), are attending and conversing at the Macroeconomic Financial Meeting held on the 8th at the Export-Import Bank in Yeouido, Seoul. The meeting discussed the U.S. presidential election, FOMC results, and international financial market trends. Photo by Jo Yong-jun

The Bank of Korea stated that it plans to discuss the situation and market stabilization measures related to the declaration of martial law. The FOMC is a decision-making body that deliberates and resolves key matters related to the Bank of Korea's monetary and credit policies, consisting of seven members including the Governor of the Bank of Korea.

Additionally, Deputy Prime Minister and Minister of Economy and Finance Choi Sang-mok plans to convene an additional meeting at 7 a.m. that day to review the economic and financial situation. On the night of the 3rd at 11:40 p.m., Deputy Prime Minister Choi held an emergency macroeconomic and financial issues meeting (F4 meeting) at the Korea Federation of Banks building with Lee Chang-yong, Governor of the Bank of Korea, Kim Byung-hwan, Chairman of the Financial Services Commission, and Lee Bok-hyun, Governor of the Financial Supervisory Service.

Deputy Prime Minister Choi stated, "To respond to potential market instability factors that may arise following the declaration of martial law, we will mobilize all possible financial and foreign exchange market stabilization measures, including unlimited liquidity supply."

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