Seoul: The country's leading financial watchdog announced its readiness to inject a substantial 10 trillion-won (US$7 billion) stock market stabilization fund to mitigate market volatility following President Yoon Suk Yeol's unexpected decision to impose martial law, which was subsequently lifted. According to Yonhap News Agency, Kim Byoung-hwan, the chief of the Financial Services Commission (FSC), expressed during a meeting with the heads of the Financial Supervisory Service and state-owned financial institutions that the authorities are prepared to implement the stock market stabilization fund and additional market stabilization measures as necessary. Kim emphasized that the government has also earmarked a total of 40 trillion won in funds dedicated to stabilizing the bond market. Furthermore, the chief financial regulator highlighted the importance of maintaining vigilance over foreign currency prudence, ensuring that the financial system remains stable in light of potential external shocks.
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