The Korea Financial Services Commission will activate the emergency response mechanism in the financial sector.

The Financial Services Commission said in a statement that it will activate an emergency response mechanism in the financial sector to ensure financial stability during the war in the Middle East.

Financial Services Commission Chair Lee Eog-weon said in the statement that the prolonged war has created a difficult situation that could trigger complex ripple effects across financial markets and the real economy.

To reduce risk, the government will closely coordinate with policy financial institutions and private lenders to ensure liquidity flows into the real economy.

Policy institutions will expand support programs for companies affected by the war; if the situation continues, they will consider further expanding the scope of support.

Major financial holding companies and banks will also provide new funding, loan repayment deferrals, and fee and interest rate relief to affected companies.

The Financial Supervisory Service will closely monitor the impact of the war on the financial industry and all sectors, while paying close attention to risk factors such as liquidity and financing conditions.

The Korea Development Bank and the Export-Import Bank of Korea will provide liquidity to Korea National Oil Corporation to purchase crude oil.

In addition, stress tests will be conducted to identify weak spots in the market and ensure it can withstand the worst-case scenario.

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责任编辑：李肇孚