Bank of Korea(BOK) Governor Lee Ju-yeol says that the central bank will ensure sufficient liquidity to stabilize the market following Britain’s vote to leave the European Union.

In a meeting with senior BOK officials on Monday, Lee said that the bank would execute its utmost efforts to minimize Brexit’s effects on the domestic financial and economic conditions.

The BOK chief said that South Korea is bound to suffer negative effects from the Brexit, both in its financial market and in the real economy. He, however, added that there is no need for economic players to react too sensitively to short-term changes.

Lee returned home earlier on Monday after his trip to Basel, Switzerland, for the annual general assembly of the Bank for International Settlements.