FX.co ★ Bank Of Korea Vows To Take Measures To Stabilize Markets

The Bank of Korea has committed to vigilant oversight of financial and foreign exchange market conditions, with a pledge to implement further actions as necessary.

In reaction to President Yoon Suk Yeol's declaration of martial law late Tuesday, the Bank of Korea's policy board convened an emergency meeting on Wednesday. However, following a legislative vote against the martial law, President Yoon subsequently withdrew the order.

According to the central bank, the Korean financial and foreign exchange markets experienced significant volatility post-declaration, but have shown signs of stabilization following the lifting of martial law.

"The Board is prepared to consider all possibilities and will proactively engage in measures to stabilize the market until complete stability is achieved," stated the bank in an official release.