South Korea government to activate market stabilization fund after martial law attempt

SEOUL (Reuters) – South Korea’s Finance Ministry said on Thursday that the government will activate 40 trillion won ($28.35 billion) worth of market stabilization fund, after President Yoon Suk Yeol’s lifting of a martial law declaration affected financial markets.

The Bank of Korea may purchase government bonds and expand repo operations if needed, and the government is closely monitoring markets and will deploy measures according to contingency plans if needed, the Finance Ministry said in a statement.

($1 = 1,411.1300 won)