On October 2, Deputy Prime Minister and Minister of Finance and Economy Lee Hyoung Il convened a Market Situation Review Meeting[1] jointly with relevant authorities at the Korea Federation of Banks building. During the meeting, the participants comprehensively assessed developments in domestic and global financial and foreign exchange (FX) markets, as well as conditions in the bond and housing markets, and discussed policy responses going forward.

The meeting was the first Market Situation Review Meeting chaired by Deputy Prime Minister Lee since taking office and was also attended by the Minister of Land, Infrastructure and Transport. The participants shared the view that the movement of funds between financial and real estate markets could lead to greater interactions between the two markets. They agreed to closely monitor potential risks related to financial and housing markets, household fund flows and debt going forward.

Deputy Prime Minister Lee emphasized that “at times of heightened domestic and external uncertainty, it is all the more important to detect even small signs of unusual market developments at an early stage.” He added, “We will develop the Market Situation Review Meeting into a forum that looks ahead to identify where potential risks could emerge and how they could spread, while enabling the relevant authorities to discuss their respective policy tools and roles in advance.”

Please refer to the attached files.