Finance Minister Choi Sang-mok on Thursday called on government agencies to focus on alleviating external volatility and stabilizing financial markets and the real economy.

The finance minister who's accompanying President Yoon Suk Yeol on his three-nation Central Asian tour this week, made the remarks during an emergency macroeconomic meeting to assess the U.S. Federal Reserve's rate-setting announcement.

The U.S. central bank on Wednesday local time, kept its benchmark interest rate steady at five-point-two-five to five-point-five percent for the seventh straight session.

Minister Choi stressed that uncertainties will continue over when and by how much the U.S. central bank will cut its interest rates, adding that South Korea cannot rule out the possibility of volatility worsening in the global financial market. He called for extra vigilance and close cooperation among relevant agencies and institutions.

In strengthening the external safety net, Choi said the government will swiftly come up with tax incentives and other measures to support companies and the public.