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


Published on 2024-12-15 06:00:59 - Reuters
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  • South Korea's finance ministry vowed on Sunday to continue to swiftly deploy market stabilising measures as needed to support the economy after President Yoon Suk Yeol was impeached over his brief imposition of martial law.

The Bank of Korea (BOK) has pledged to maintain financial market stability in light of potential political turmoil following a possible impeachment of President Yoon Suk Yeol. This assurance comes after the opposition-controlled parliament initiated impeachment proceedings against Yoon, citing reasons such as his handling of a military incident and allegations of corruption. The BOK's statement aims to reassure investors and the public that it will take necessary measures to prevent any adverse economic impacts from the political uncertainty. The central bank emphasized its commitment to monitoring economic conditions closely and intervening if necessary to ensure market stability. This move is seen as an attempt to mitigate any potential negative effects on South Korea's financial markets, which could be exacerbated by the political instability.

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[ https://www.reuters.com/markets/rates-bonds/bank-korea-vows-keep-markets-stable-yoon-impeachment-2024-12-15/ ]