South Korea's central bank chief attempted to mitigate concerns stemming from the ongoing trade dispute between the U.S. and China. 

Speaking at a meeting on Tuesday, Bank of Korea(BOK) Governor Lee Ju-yeol said that although trade war uncertainties have resurfaced, there is no need to panic as the two countries remain in negotiations. 

Lee told BOK executives to be alert and examine financial markets both domestic and abroad. He encouraged them to take stabilization measures in a timely manner whenever necessary.

Lee’s remarks come after U.S. President Donald Trump posted a series of tweets on Sunday threatening to levy additional tariffs on Chinese goods from May 10.

Afterwards, Chinese stocks plunged while the value of safe haven currencies like the Japanese yen and Swiss franc rose.

The BOK noted in a press release Tuesday that the country's credit default swap premium, which represents default risk, is stable, though offshore exchange rates of Korean won have become somewhat volatile.