Choi Sang-mok, acting president and Deputy Prime Minister and Minister of Strategy and Finance, said on the 3rd, "I will directly preside over the macroeconomic financial issues meeting (F4 meeting) every week to monitor the market."
Acting President Choi held the 'F4 meeting' at the Bank Federation in Myeongdong, Seoul, in the morning and noted that "each institution should be fully prepared for 24-hour emergency inspections and response systems for financial and foreign exchange markets, and take bold and swift market stabilization measures in cases of heightened market volatility."
This meeting is a gathering where the heads of four financial and economic authorities meet to check trends in the financial and foreign exchange markets and discuss issues. It has been led by the Deputy Prime Minister and Minister of Strategy and Finance.
However, as Acting President Choi took on the role of acting president on behalf of Prime Minister Han Deok-soo, while also serving as the head of the central disaster management headquarters following the Muan tragedy, Choi was unable to attend the meeting on Dec. 30 last year.
At the meeting, attendees included Acting President Choi, Lee Chang-yong, governor of the Bank of Korea, Kim Byung-hwan, chair of the Financial Services Commission, and Lee Bok-hyeon, head of the Financial Supervisory Service.