Koo Yun-cheol, deputy prime minister for the economy and Minister of the Ministry of Economy and Finance, said on the 8th that "volatility in the foreign exchange market remains high," adding, "we will push follow-up measures related to stabilizing the foreign exchange market with speed."

Koo Yun-cheol, Deputy Prime Minister and Minister of Economy and Finance, presides over the market situation review meeting at the Korea Federation of Banks in Jung District, Seoul, on Jan. 8. /Courtesy of Ministry of Economy and Finance.

Deputy Prime Minister Koo said this while presiding over a "market conditions review meeting" at 9 a.m. Rhee Chang-yong, governor of the Bank of Korea, Lee Chan-jin, governor of the Financial Supervisory Service, and Kwon Dae-young, vice chairman of the Financial Services Commission, attended the meeting.

Participants said the financial market is generally stable, citing renewed momentum in the stock market due to inflows of foreign investment funds and stable yields on Treasury bonds.

However, they agreed that "since the end of last year, some of the one-sided expectations for a weaker won have eased, but the foreign exchange market still shows high volatility." They added, "as the current exchange rate is out of line with fundamentals, it is important for the authorities to continue firm and consistent policy efforts."

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