Seoul: South Korea's finance minister has pledged to implement "immediate measures" to address excessive volatility in the foreign exchange market. This announcement comes amid a notable decline of the Korean won against the US dollar.
According to Yonhap News Agency, Finance Minister Koo Yun-cheol discussed potential actions with Bank of Korea Governor Shin Hyun-song, Financial Services Commission Chairman Lee Eog-weon, and Financial Supervisory Service Governor Lee Chan-jin in Seoul. The Ministry of Finance and Economy reported on the collaborative discussions aimed at stabilizing the foreign exchange market.
During the meeting, Minister Koo emphasized the government's vigilant monitoring of the situation and reiterated his commitment to taking swift action as necessary to curb the volatility affecting the national currency.