The Bank of Korea Governor Lee Chang-yong, Financial Services Commission Chairperson Kim Byung-hwan, and Financial Supervisory Service (FSS) Commissioner Lee Bok-hyeon denied claims that they discussed securing funds for state operations during the emergency martial law at the macroeconomic and financial issues meeting (F4 meeting) held on Dec. 3, stating, "This is not true."
According to a press reference material jointly distributed by the Bank of Korea, the Financial Services Commission, and the Financial Supervisory Service on the 8th, F4 meeting member Governor Lee, Chairperson Kim, and Commissioner Lee discussed emergency stabilizing measures for foreign exchange market instability caused by the sharp rise of the won-dollar exchange rate following the declaration of emergency martial law at an urgent meeting held on the night of Dec. 3 last year. They also talked about whether the stock market would open the next day.
Subsequently, the Bank of Korea, the Financial Services Commission, and the Financial Supervisory Service distributed a press release aimed at market stability, stating, "We will mobilize all possible financial and foreign exchange market stabilization measures in response to market instability factors." Each institution decided to convene another F4 meeting at 7 a.m. to prepare more specific additional market stabilization measures that could be implemented.
Governor Lee, Chairperson Kim, and Commissioner Lee emphasized, "Claims that we discussed content related to emergency martial law during the F4 meeting are completely untrue, and the F4-related institutions are making every effort to monitor financial and economic stability with a 24-hour monitoring system in place following the emergency martial law situation."
Meanwhile, some in the political circles claim that the F4 meeting held immediately after the declaration of emergency martial law was a discussion intended to implement 'President Yoon Suk-yeol's notes regarding emergency martial law.' In response, both ruling and opposition parties designated Governor Lee, Chairperson Kim, Commissioner Lee, and Deputy Prime Minister and Ministry of Strategy and Finance Minister Choi Sang-mok, a participant in the F4 meeting, as witnesses at the full meeting of the 'Special Committee on the National Assembly Investigation to Clarify the Allegations of Insurrection through the Declaration of Emergency Martial Law by the Yoon Suk-yeol Administration' held on the 7th.