Economic and Financial Leaders: "Immediate Additional Liquidity Supply if Market Instability Occurs"

Choi Sang-mok, Deputy Prime Minister for Economic Affairs and Minister of Economy and Finance, is presiding over a macroeconomic and financial issues meeting at the Korea Federation of Banks in Jung-gu, Seoul, on the 23rd.

The financial and monetary authorities have decided to provide additional liquidity if market instability occurs. They also announced their intention to implement previously announced measures as quickly as possible.

On the 23rd, Choi Sang-mok, Deputy Prime Minister for Economy and Minister of Strategy and Finance, held an 'Emergency Macroeconomic and Financial Issues Meeting' at the Korea Federation of Banks building in Jung-gu, Seoul, 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, and made this decision.

During the discussion, the participants agreed to immediately increase the Bank of Korea's non-regular repurchase agreement (RP) purchases in the event of market instability. Since the 4th, the Bank of Korea has supplied a total of 19.6 trillion won in short-term liquidity.

They also emphasized the prompt execution of the second value-up fund worth 300 billion won and stated that discussions on governance improvement and tax support would continue once the ruling and opposition parties' consultative body is activated. Regarding the foreign exchange and foreign currency fund markets, they plan to complete related regulations by next month according to the foreign exchange supply and demand improvement plan announced on the 20th.

Regarding the domestic financial and foreign exchange markets, they warned that "volatility may increase in the short term" and cautioned that "excessive concentration in one direction could lead to significant backlash in the future." They urged investors to respond calmly by making investment decisions from a more long-term perspective.

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