By Kwanwoo Jun
South Korea’s Finance Ministry said the fundamentals of the domestic economy and stock market remain sound despite heightened volatility driven by external factors.
The ministry said Friday that U.S. Treasury yields, business conditions in the artificial‑intelligence and semiconductor industries, and geopolitical tensions in the Middle East are contributing to market volatility and uncertainty.
The ministry pointed to this year’s projected economic growth of about 3% and a large current account surplus as signs of the country’s resilience.
The government and financial regulators are closely monitoring financial markets and will take strict action against any market‑disrupting activities, it said.
South Korea’s benchmark Kospi was up 2.5% at 5691.20 in early trading, on track to rebound from a drop of more than 7% in Thursday’s session.
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