South Korea pledges to provide unlimited liquidity to financial markets

Ionhap agency stated south korean It was reported that this pledge followed an emergency meeting of economic ministers led by Finance Minister Choi Sang-mok.

And it was Korean won It fell to its lowest level in years after President Jeon Suk-yul declared a state of emergency and imposed a state of emergency late Tuesday night, then later reversed the decision after South Korea’s parliament unanimously rejected the decision.

The ministry said: “The government will provide unlimited liquidity until it stabilizes.” Stock markets and letters of credit Short-term financing and markets Currencies Completely foreign”, adding that everything Financial markets and markets Foreign currencyAnd also Stock marketsIt will work normally.

The South Korean won fell to 1,442 per dollar in after-hours trading after the announcement late on Tuesday, the lowest level since Oct. 25, 2022, when the local currency traded at 1,444.2 won per dollar.

The won then recovered slightly to close at 1415.8 won.

The KOSPI 200, an index of overnight futures contracts, also faced significant losses, falling more than 5 percent in the session, before recovering slightly to close up 1.8 percent.