Acting President Choi Sang-mok has ordered the prompt development of additional measures to improve regulations on foreign exchange flows, in order to address “imbalances” in the supply and demand of foreign currency.
Choi made the call on Friday during a meeting on macroeconomic and financial issues, attended by the chiefs of the Bank of Korea, the Financial Services Commission, and the Financial Supervisory Service.
The acting president stressed the need to swiftly implement additional measures to rationalize regulations on foreign currency flows, saying that amid heightened external uncertainties, imbalances of supply and demand in the foreign exchange market have been exacerbated by domestic investors' growing investment in overseas securities and other factors.
Choi also called for close monitoring of the global economy and financial markets, in light of growing external uncertainties from U.S. tariffs and responses by major nations, as well as geopolitical issues.