The Financial Supervisory Service (FSS) announced that it held a financial situation assessment meeting on the 3rd to discuss countermeasures regarding the U.S. government's imposition of reciprocal tariffs.
The meeting was chaired by Deputy Commissioner Lee Se-hoon and attended by FSS executives and heads of major departments. The meeting was a venue to check responses after the U.S. government's announcement of reciprocal tariffs.
The FSS assessed that the level of the U.S. reciprocal tariffs significantly exceeds market expectations. As a result, concerns about declines in the global stock market and economic growth have also increased. Additionally, the FSS expressed concern that the announcement of the U.S. reciprocal tariffs, along with the Constitutional Court's upcoming ruling on the impeachment of President Yoon Suk-yeol scheduled for the 4th, could further increase volatility in the domestic market.
The FSS stated that it would activate a 24-hour emergency response system to ensure that necessary market stabilization measures could be implemented immediately. The deputy commissioner urged strengthening the daily monitoring system and closely reviewing internal and external risk factors to proactively respond to market instability.
Earlier, U.S. President Donald Trump announced on the 2nd (local time) that he would impose extensive reciprocal tariffs of 25% on South Korea, 34% on China, and 24% on Japan.