The head of the local financial watchdog has assured foreign CEOs that the South Korean economy's fundamentals remain robust despite political and economic uncertainties at home and abroad.

At a breakfast meeting on Tuesday with CEOs of foreign companies based in the country, Financial Supervisory Service(FSS) Governor Zhin Woong-seob urged them to pass on his words of assurance to their headquarters and to foreign investors.

Regarding political chaos domestically over a massive influence-peddling scandal, Zhin stressed that South Korea’s economic and financial systems are working smoothly thanks to close policy coordination among fiscal, monetary and financial authorities.

To back up his claim, Zhin cited a decrease of credit default swap(CDS) premiums for South Korea's five-year foreign exchange stabilization bonds from 55-point-zero-nine basis points in June to 44-point-71 basis points at the end of last year.

The FSS chief also addressed the trend of protectionist trade, saying it is being strengthened around the globe.

While quoting the proverb that a smooth sea never made a skillful mariner, he asserted that South Korea will not see the uncertainty develop into a crisis but rather turn it into an opportunity to reform and grow.

He said the FSS will try to stabilize the financial market through all-out risk management mechanisms and induce reforms of the local financial industry to encourage economic dynamism for the South Korean economy.