“South Korea’s finance ministry vowed on Sunday to continue to rapidly implement market stabilization measures needed to support the economy after President Yoon Suk-yeol was impeached.”, — write: epravda.com.ua
South Korea’s finance ministry vowed on Sunday to continue to rapidly implement market stabilization measures needed to support the economy after President Yoon Suk-yeol was impeached. This is reported by Reuters. South Korea’s finance ministry said it will actively engage with parliament to maintain economic stability, adding that it plans to announce its two-year policy plan by the end of this year. The leader of the main opposition Democratic Party, Lee Jae-myung, has called for the establishment of a National Stability Council involving the government and parliament to discuss issues of finance, the economy and people’s livelihoods.Advertisement: The Bank of Korea said it will use all available political tools with the government to respond and prevent any which escalation of volatility in the financial and foreign exchange markets. It also said there is a need to respond more proactively to the economic fallout than in past periods of presidential impeachment due to increased challenges in the external environment, such as increased uncertainty in the trading environment and increased global competition in key industries. South Korea’s financial regulator said financial markets are expected to stabilize as recent political events are seen as temporary shocks, but it will expand market stabilization funds if necessary.