Seoul: The country's top financial regulator announced on Wednesday its readiness to deploy a substantial stock market stabilization fund valued at 10 trillion won (US$7 billion) to counteract any potential market volatility following President Yoon Suk Yeol's unexpected martial law declaration, which was subsequently lifted. According to Yonhap News Agency, Kim Byoung-hwan, the chief of the Financial Services Commission (FSC), stated during a meeting with the heads of the Financial Supervisory Service (FSS) and state-owned financial institutions, "We are ready to deploy the 10 trillion-won stock market stabilization fund at any time and other market stabilization steps." Kim further revealed that an additional 40 trillion won is available for bond market stabilization. The financial authorities are also set to closely monitor the foreign currency prudence of local financial firms, pledging to inject ample liquidity into the currency market if necessary. FSS chief Lee Bok-hyun emphasized the importance of a robust response to potential risks, urging his team to prepare accordingly. In response to the current market conditions, the financial watchdog has implemented a continuous market monitoring scheme, which will remain in place until stability is restored. The country's benchmark stock index, the KOSPI, was reported at 2,456.54, marking a 1.74 percent drop, or 44.6 points, from the previous session's close, after hitting a low of 2,442.46. The secondary Kosdaq also experienced a decline, falling 1.95 percent, or 13.45 points, to 677.35.