Vice Minister Lee Hyeong-il of the Ministry of Finance and Economy said on the 3rd that "the KOSPI index underwent a correction the previous day due to factors including a U.S. market decline following the nomination of a candidate for U.S. Federal Reserve chair and short-term profit-taking after a sharp run-up," adding that "Korea's real economy and financial market conditions are solid."
The Vice Minister said this at the Government Complex Seoul in Jongno-gu, Seoul, where a market conditions review meeting was held with the Bank of Korea deputy governor, the Financial Services Commission vice chair, and the Financial Supervisory Service senior deputy governor.
As reasons for assessing that Korea's market conditions are solid, Lee cited: ◇ a sharp improvement in second-half growth compared with the first half last year ◇ exports in January this year posting the largest increase in 56 months ◇ consumer sentiment exceeding the baseline for "nine consecutive months" for the first time in 3 years and 8 months.
The Vice Minister said, "We have sufficient policy capacity to respond to external uncertainties," and added, "We will move quickly to advance the capital market through tax law revisions, improvements in the governance of corporations, and strengthening the competitiveness of the KOSDAQ market."
He added, "With global uncertainties such as U.S. tariff policy and geopolitical tensions persisting, we will continue to operate a 24-hour monitoring system to closely track trends in domestic and overseas financial markets."