The head of the nation's financial regulator said on Tuesday that his agency will carefully re-examine its contingency plan for stabilizing the stock market and get ready to implement it when necessary. 

Choi Jong-ku, chairman of the Financial Services Commission(FSC), made the remarks at an emergency meeting with senior FSC officials to discuss measures to deal with recent plunges in the stock market. 

Choi ordered the officials to produce measures to stabilize investor confidence and to closely monitor and analyze movements in the financial market and the flow of global capital. 

He also instructed the officials to begin investment in the secondary KOSDAQ market as announced the previous day. In addition, Choi called for stern responses to deal with unfair practices of illegal short selling and market manipulation.