Lee Chang-yong, Kim Byung-hwan, Lee Bok-hyun "Did Not Discuss Martial Law Note at F4 Meeting"

Before the Macroeconomic and Financial Meeting held on the 19th of last month at the Bankers Hall in Myeongdong, Seoul, Choi Sang-mok, Acting President and Deputy Prime Minister for Economic Affairs (second from right), Lee Bok-hyun, Governor of the Financial Supervisory Service (from left), Lee Chang-yong, Governor of the Bank of Korea, and Kim Byung-hwan, Chairman of the Financial Services Commission, posed for a photo. Photo by Heo Young-han

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, along with other members of the macroeconomic and financial issues meeting (commonly known as the F4 meeting), have completely denied allegations that they discussed notes related to the state of emergency declared by President Yoon Suk-yeol.

On the 8th, they issued a joint press release stating, "Claims that the F4 meeting discussed notes related to the state of emergency are entirely untrue."

According to the document, the F4 members, including Choi Sang-mok, Acting Prime Minister and Minister of Economy and Finance, urgently convened on the night of December 3 last year to discuss emergency stabilization measures for the foreign exchange market turmoil caused by the sharp rise in the won-dollar exchange rate following the declaration of the state of emergency.

The following day, they prioritized discussions on whether to open the stock market and issued a press release aimed at market stabilization, stating that all possible financial and foreign exchange market stabilization measures would be fully mobilized to respond to market instability factors. Each institution prepared more specific additional market stabilization measures that could be implemented, and they agreed to hold another F4 meeting at 7 a.m. on the 4th. They emphasized that there was no discussion of the state of emergency notes.

Earlier, opposition parties alleged that the F4 meeting held immediately after the declaration of the state of emergency discussed securing funds for national governance based on the success of the emergency, leading to the selection of Governor Lee and Acting Prime Minister Choi as witnesses for the National Assembly's Special Committee on Internal Affairs and State Investigation.

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