As the situation in the Middle East sharply deteriorated due to the U.S. attack on Iran's nuclear facilities, major financial institutions in Korea entered emergency response mode to prepare.
According to the financial sector on the 22nd, KB Financial Group plans to hold an emergency response meeting involving all executives of the holding company and key executives of its affiliates to respond quickly if market volatility increases. It is currently monitoring the overall financial market and checking the capital market profits and losses on a daily basis.
KB Financial is enhancing its decision-making system to take proactive measures, such as adjusting its asset portfolio, in case market uncertainty increases.
Shinhan Financial has decided to strengthen monitoring in response to increased market volatility. NH NongHyup Financial is set to assess the impact on the financial market and risk factors through a weekly meeting on the 23rd.
As the conflict between Iran and Israel has intensified, international oil prices are on the rise. The price of West Texas Intermediate (WTI) crude, which was $74.23 per barrel on the 13th, has increased to $76.84 on the 20th. During the same period, Brent crude also surpassed $77.
U.S. President Donald Trump stated in a public address at the White House on the 21st (local time) that he utilized U.S. military power to directly strike Iran's nuclear facilities. This acknowledges direct intervention in the conflict between Israel and Iran.