Seoul: Top economic and financial policymakers have committed to round-the-clock monitoring of financial markets in response to the political uncertainties following the resignations of the prime minister and finance minister, the finance ministry announced.
According to Yonhap News Agency, the commitment was reiterated during an emergency meeting focused on macroeconomic and financial issues. The meeting was chaired by acting Finance Minister Kim Beom-suk and included participation from Bank of Korea Governor Rhee Chang-yong, as well as the heads of the Financial Services Commission and the Financial Supervisory Service, the Ministry of Economy and Finance reported.
The officials expressed regret over Finance Minister Choi Sang-mok's resignation, which was prompted by an impeachment motion. This development occurs at a critical time, as uncertainties loom over the economy and financial markets, exacerbated by U.S. tariff shocks and the impending inauguration of a new administration in just one month.
In an effort to mitigate any adverse effects stemming from the heightened political uncertainty, authorities have pledged to maintain a 24-hour emergency monitoring and response system.