FSC Chairman holds meeting to review stock market situationNov 18, 2024

Chairman Kim Byoung Hwan of the Financial Services Commission presided over a meeting with related authorities and market experts to check recent situation in the stock market in the wake of U.S. presidential elections. At the meeting, participants assessed that there have been significant movements of global investments toward the U.S. and increased volatility in stock markets around the world since the election of President Donald Trump. Amid uncertainties regarding the new U.S. administration's policy directions, participants assessed that it is possible that stock markets may experience increased volatility in the future. To help ease current volatility in the domestic stock market, the Korea Exchange and related organizations will start to implement the value-up fund worth KRW200 billion from this week and will seek to raise a second batch of value-up fund in the size of KRW300 billion. With increased uncertainties at home and abroad, FSC Chairman Kim said that financial authorities will continue to stay vigilant and closely monitor market developments, and asked related organizations for a swift implementation of investments through the value-up fund. Chairman Kim also said that financial authorities are prepared to employ appropriate market stabilization measures when considered to be necessary.