South Korea vows to keep markets stable after Yoon's impeachment

Published On Dec 15, 2024, 7:59 AM

South Korea's finance ministry has pledged to maintain market stability following the impeachment of President Yoon Suk Yeol, who had briefly imposed martial law. The ministry aims to quickly implement stabilizing measures and plans to announce its biannual policy before year-end. The Bank of Korea is prepared to use all available policy tools to prevent market volatility, acknowledging the current political upheaval and external economic challenges. Financial regulators believe that recent events are temporary but are ready to expand market support if necessary.

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Given the government's commitment to stabilizing markets and the proactive stance indicated by the Bank of Korea, invest confidence in South Korean equities could rebound as political uncertainty decreases. The ongoing support measures may help in boosting investor sentiment and stabilizing the economy.

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