South Korea Prepares Market Stabilization Measures Amid Global Financial Turbulence

South Korea

On Friday, South Korea‘s finance ministry announced plans for swift and firm measures in response to significant fluctuations in the foreign exchange market. 

The ministry is prepared to deploy a market stabilization fund totaling 94 trillion won ($68 billion) if necessary to ensure financial stability, according to a statement that included remarks from Finance Minister Choi Sang-mok. 

South Korea

“The minister highlighted that the foreign exchange market would see immediate and forceful action against any fluctuations that significantly stray from economic fundamentals,” the statement detailed.

This announcement was made following reports that Israel had launched an attack on Iran, causing turbulence in financial markets. 

The Korean won fell as much as 1.4% against the dollar, and the KOSPI stock index (.KS11) dropped by up to 3.1% on the same day. 

From Washington, where he is currently located, Choi convened an emergency phone meeting with top ministry officials to evaluate the domestic effects of the military conflict in the Middle East.

Also Read, Tesla Shares Hit Yearly Low as Focus Shifts to Autonomous Vehicles Amid Financial Strains

JPMorgan Predicts Bitcoin Price Decline Post-Halving

Bookmark and Follow us for More Business News


Sachin Chouhan is an avid entertainment enthusiast and dedicated follower of celebrity and entertainment news. He has always had a passion for the latest happenings in the world of entertainment and has made it his mission to stay up-to-date on all the latest trends, news, and gossip. With years of experience following the entertainment industry, Sachin has developed a keen eye for the latest celebrity fashion trends, music releases, movie reviews, and red-carpet events. His in-depth knowledge and expertise have made him a trusted source for entertainment news and celebrity updates. Contact us:

Leave a Reply