South Korea’s finance ministry convened an emergency meeting on Tuesday morning to confront escalating volatility in financial and foreign exchange markets. Finance minister Choi Sang-mok vowed swift action, including “unlimited” liquidity injections and round-the-clock market monitoring. The ministry also highlighted the economy’s resilience, pointing to robust fundamentals such as $415.4 billion in foreign reserves and a net external financial asset position of $977.8 billion as of September.

Market turbulence stems from intensifying political uncertainty, including President Yoon Suk-yeol’s martial law declaration, the failure of the first round of impeachment and the National Assembly’s historic passage of an opposition-led budget