SEOUL: Volatility in the country's financial and foreign exchange markets has surged following the impeachment of Prime Minister Han Duck-soo, noted top financial officials during an emergency economic meeting on Monday. The meeting was convened in response to the opposition-controlled National Assembly's decision to pass an impeachment motion against Han, who was acting as President, last Friday.
According to Yonhap News Agency, the officials at the meeting emphasized the increased fluctuations in the markets and committed to using all available resources to stabilize the situation. The finance ministry highlighted the need to maintain a 24-hour monitoring system to closely track economic developments amidst the current political uncertainty.
Han Duck-soo was suspended from his duties less than two weeks after assuming the role on December 14, following the impeachment of President Yoon Suk Yeol for declaring martial law. In the interim, Finance Minister Choi Sang-mok has assumed the role of acting leader.
The emergency economic meeting, part of a regular series since martial law was imposed on December 3, was attended by First Vice Finance Minister Kim Beom-seok, the Bank of Korea governor, and the heads of the Financial Services Commission and the Financial Supervisory Service, instead of Choi.