South Korea's Finance Minister Koo Yun-cheol said on Thursday that volatility in financial and foreign exchange markets has "somewhat eased" following a two-week ceasefire between the United States and Iran. The statement came after U.S. President Donald Trump announced a suspension of strikes on Iran, which led South Korean stocks to surge nearly 7 percent on Wednesday and the Korean won to strengthen sharply against the U.S. dollar. The government pledged to remain vigilant in maintaining macroeconomic stability.
Finance Minister Koo Yun-cheol said on Thursday during a ministerial-level meeting on stabilizing consumer prices at the Government Complex Seoul that "amid the recent two-week ceasefire in the Middle East conflict, volatility in the financial and foreign exchange markets appears to have somewhat eased."
The remarks followed U.S. President Donald Trump's announcement suspending strikes on Iran for two weeks, after which South Korean stocks surged nearly 7 percent on Wednesday and the Korean won strengthened sharply against the U.S. dollar.
Koo stressed that the government will remain vigilant and prioritize maintaining macroeconomic stability at home and abroad, according to the finance ministry. He also emphasized efforts to ease the burden on people's livelihoods by improving distribution structures for essential goods, addressing business difficulties, and establishing a fair market order.
