South Korean officials stepped in to shore up support for the country’s financial markets as investors braced for political uncertainty after President Yoon Suk Yeol’s failed attempt to impose martial law.
Kim Byung-hwan, head of the country’s top financial regulator, said the government was ready to activate a Won10tn ($7.1bn) stock market stabilisation fund and a Won40tn bond market stabilisation fund if needed.
”We will closely monitor the foreign exchange soundness of financial institutions and respond to risks, such as margin calls triggered by rising exchange rates, through foreign currency liquidity provision via securities financing,” Kim said in a statement.
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