Gov't reaffirms vigilant monitoring of financial markets amid political turmoil

SEOUL, May 2 (Yonhap) -- Top economic and financial policymakers on Friday vowed to maintain round-the-clock monitoring of the financial markets amid heightened political uncertainties following the resignations of the prime minister and finance minister, the finance ministry said.

The renewed pledge was made during an emergency meeting on macroeconomic and financial issues, chaired by acting Finance Minister Kim Beom-suk and attended by Bank of Korea Gov. Rhee Chang-yong, and the chiefs of the Financial Services Commission and the Financial Supervisory Service, according to the Ministry of Economy and Finance.

"The officials said it is regrettable that Finance Minister Choi Sang-mok inevitably resigned due to the impeachment motion, especially at a time when uncertainties in the economy and financial markets are high due to the U.S. tariff shocks, and with just one month to go before the launch of a new administration," the ministry said in a release.

"To minimize any negative impact of heightened political uncertainty, authorities will continue operating a 24-hour emergency monitoring and response system," it added.

Late Thursday, Choi offered to step down after the Democratic Party pushed for his impeachment. His resignation was immediately accepted.

Choi's departure came just hours after Prime Minister Han Duck-soo, who had been serving as acting president, resigned amid speculation over his bid in the June 3 presidential election.

Following their resignations, Education Minister Lee Ju-ho, who concurrently serves as deputy prime minister for social affairs, became acting leader.

graceoh@yna.co.kr
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