Bank of Korea(BOK) Governor Lee Ju-yeol promised efforts to better manage market liquidity and cooperate with the government amid increasing volatility in finance markets at home and abroad.

The central bank held a meeting Tuesday morning chaired by the governor to inspect financial and currency market conditions and discuss response measures.

The meeting came as market volatility has increased following a sharp depreciation of the Chinese yuan and Washington's designation of Beijing as a currency manipulator.

Lee stressed the importance of stability especially that of the foreign exchange market as uncertainties are rising with the escalating U.S.- China trade war and Japan's export curbs on South Korea.

He also vowed to monitor market liquidity and closely cooperate with the government for related responses.