Financial Services Commission chief Kim Joo-hyun has vowed efforts to mitigate volatility in the financial market and respond to potential financial risks.

In a meeting with financial experts on Monday, Kim evaluated the financial market to be in a phase of complex crisis as uncertainty increases in the face of global inflation, monetary tightening, geopolitical conflicts and supply chain disruptions.

He emphasized the need to closely monitor and respond to the upcoming U.S. Federal Reserve's interest rate decision and GDP announcement for the second quarter as well as the South Korea-U.S. consumer price index for July to be released in August.

The chief added that he will make an effort to enact policies that will help the most vulnerable hit hardest by the financial volatility.