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

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]

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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."

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