BOK Says Global Financial Market Uncertainty Heightened, But South Korea's Fundamentals Sound

The Bank of Korea stated that uncertainty in international financial markets has heightened further during the Chuseok holiday period.

Chairing a market monitoring meeting at the BOK this morning (September 28), Deputy Governor Kwon Min-soo said, "While fluctuations in major countries' stock prices and the U.S. dollar were relatively minor, global government bond yields rose significantly due to shifting expectations surrounding monetary policy," making the remarks as such.

"South Korea's economic fundamentals remain sound," Kwon analyzed, adding, "Moving forward, volatility in domestic financial and foreign exchange markets could expand depending on how external risk factors unfold, such as negotiations between the United States and Iran, concerns over fiscal soundness in major economies, and shifting expectations in the artificial intelligence (AI) industry."

He added, "We will closely monitor the situation with extraordinary vigilance."

Kwon presided over the meeting earlier today to review the conditions of international financial markets as well as domestic financial and foreign exchange markets during the Chuseok holiday.

(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.