S. Korean Financial Supervisory Service Assesses Rate-Hike Risks, Calls for Support for Corporate Funding

South Korea's Financial Supervisory Service held a financial situation assessment meeting on July 16, chaired by its chief, Lee Chan-jin. According to Jin10, the meeting reviewed market moves and internal and external risk factors after the Bank of Korea's Monetary Policy Board raised its benchmark rate by 0.25 percentage point. Lee said the Bank of Korea's move was in line with market expectations. He added that recent volatility in South Korea's stock market has intensified significantly, Middle East geopolitical tensions remain elevated, and the U.S. still has the possibility of further rate hikes, so full preparations are needed to cope with the risk of broader financial market swings. He also called for measures to ensure corporate financing.