South Korea’s Finance Minister Koo Yun-cheol announced Thursday that volatility across the nation’s financial and foreign exchange markets has “somewhat eased.” He attributed this improved stability to a recent two-week ceasefire between the United States and Iran, which has helped de-escalate geopolitical tensions.
This positive shift in market sentiment follows the announcement that US President Donald Trump would suspend military strikes on Iran for two weeks. In response, South Korean stocks experienced a significant surge, climbing nearly 7 percent on Wednesday, while the Korean won strengthened sharply against the US dollar, signaling renewed investor confidence.
Addressing a ministerial-level meeting focused on stabilizing consumer prices, Minister Koo elaborated on the current situation, stating, “Amid the recent two-week ceasefire in the Middle East conflict, volatility in the financial and foreign exchange markets appears to have somewhat eased.”
Despite these encouraging developments, the minister stressed that the South Korean government would remain vigilant. It will continue its unwavering focus on maintaining robust macroeconomic stability, both domestically and internationally, the finance ministry confirmed.
