Lee Bok-hyun, the governor of the Financial Supervisory Service, emphasized that market volatility is expected to increase in the short term due to rising market interest rates and a strengthening exchange rate, and that the Korean financial market must closely respond to changes in external conditions.
On the morning of the 19th, Lee held an expanded financial situation inspection meeting to discuss these matters. The meeting took place immediately after the Federal Reserve's Federal Open Market Committee meeting, where the FSS reviewed changes in financial policies from major countries and discussed response measures.
Lee noted, “This is a crucial time that will determine the direction of our economy and finance” and urged for stable market management along with the seamless implementation of key issues and policies. He also emphasized the need to thoroughly manage soundness and liquidity to ensure that risks from some vulnerable financial companies do not transfer to the broader financial sector.
Lee said, “We must reassess the direction and role of financial supervision so that the public can feel the effects of financial policy.”