South Korea promises to closely monitor stock market volatility.

South Korea's finance ministry said on Friday that it will strengthen monitoring of financial markets and pay close attention to the various effects of recent stock market volatility on the bond, foreign exchange and short-term money markets. The KOSPI plunged nearly 8% the previous day to a six-month low, dragged down by artificial intelligence-related concerns. The ministry said after a meeting that due to differences in industry sector composition, South Korea's recent stock market volatility has been larger than that of other markets, but economic fundamentals remain sound.