South Korean officials are urging calm in financial markets following a recent martial-law controversy involving President Yoon Suk Yeol, which has raised concerns about the nation's creditworthiness. Despite the turmoil, the Finance Ministry reported limited market impact and pledged to monitor conditions closely, especially with uncertainties surrounding the incoming U.S. administration. The opposition is preparing to impeach Yoon, who faces significant political challenges ahead.
Bank of Korea Governor Rhee Chang-yong expressed optimism that market volatility stemming from recent martial-law turmoil will gradually subside, provided there are no new shocks. He reassured investors about South Korea's economic outlook, stating that the central bank sees no immediate need to adjust growth forecasts. Rhee noted the won has regained some strength against the dollar following the martial law declaration by President Yoon Suk Yeol.
Bank of Korea Governor Rhee Chang-yong has dismissed the likelihood of an interest rate cut, downplaying the impact of President Yoon Suk Yeol's recent martial law decision on the economy. Rhee emphasized that the political turmoil is short-lived and urged a focus on the economy's strengths and weaknesses instead.
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