Gov't vows stern action against unfair practices amid heightened stock market volatility

The Korean government has pledged to take strict action against unfair practices in the capital market amid recent stock market volatility. Officials from key ministries and regulatory bodies met to review the trends in domestic and global financial markets and discuss potential responses. They noted that both domestic and global stock markets are in a correction phase due to rising global interest rates, uncertainty in the AI semiconductor sector, and risk-averse sentiment from increasing international oil prices.

Despite the heightened volatility, particularly in AI-related sectors, the officials affirmed the fundamentals of the Korean economy and stock market as solid, with growth expectations of reaching the 3 percent range this year.

Brief written by urgent.news from The Korea Times's own syndicated text. Machine-written — may contain errors; check the original before relying on it.