The government says it will monitor market fluctuations caused by the new U.S. tariffs around the clock and implement market stabilization measures immediately if volatility becomes excessive.
Finance Minister Choi Sang-mok conveyed the information Thursday during a meeting with the chiefs of the central bank and financial regulators, shortly after U.S. President Donald Trump announced 25 percent reciprocal tariffs on South Korea.
The minister said that due to the reciprocal tariffs, high volatility in the global financial market is expected to persist for the time being, and that the domestic financial and foreign exchange markets are also likely to react sensitively.
Choi said if market volatility increases beyond a certain point, the government will immediately implement all available market stabilization measures in accordance with situation-specific response plans.
He added that related government agencies will maintain a joint 24-hour monitoring system until market conditions are sufficiently stable and will also operate a sector-specific monitoring system to check foreign exchange rates, government bonds and other indicators.