South Korean Central Bank's Assurance Amid Political Turmoil

The Bank of Korea has pledged to stabilize financial markets following the impeachment of President Yoon Suk Yeol. In collaboration with the government, the bank aims to mitigate economic impact and address increased external challenges. The financial regulator anticipates temporary market disruptions.

Following the impeachment of President Yoon Suk Yeol over martial law imposition, South Korea's central bank has vowed to ensure market stability. The Bank of Korea announced its readiness to employ all policy tools, together with government support, to curb financial and foreign exchange market volatility.

The central bank emphasized the need for a proactive response to economic impacts, given heightened external challenges such as trading uncertainties and intensified global industry competition. Unlike past impeachment periods, the current economic conditions warrant a more robust approach.

South Korea's financial regulator also expressed confidence that markets will stabilize, viewing recent political events as temporary shocks. It assured stakeholders of expanding market-stabilizing funds if required.

(With inputs from agencies.)