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Financial authorities hold meeting over U.S. tariff uncertainty amid court rulings

May 30, 2025

South Korea’s top financial policymakers convened an emergency meeting Friday to assess potential market volatility following conflicting U.S. court rulings on tariffs imposed under President Donald Trump, the finance ministry said.

The meeting, chaired by acting Finance Minister Kim Beom-suk, brought together Bank of Korea Governor Rhee Chang-yong, Financial Services Commission Chairman Kim Joo-hyun and Financial Supervisory Service Governor Lee Bok-hyun, according to the Ministry of Economy and Finance.

The move came amid heightened uncertainty after a U.S federal appeals court on Thursday (local time) allowed the Trump administration to maintain its most sweeping tariffs for the time being, just a day after a lower court had ruled against them.

The participants noted that volatility could resurface depending on further developments in the U.S. legal process although domestic financial and foreign exchange markets remain broadly stable, the ministry added.

Authorities emphasized their commitment to closely monitor the situation and pledged to respond promptly with necessary policy measures to safeguard market stability.