South Korea's finance ministry and regulators said Monday they will make all-out efforts to stabilise financial markets by implementing previously stated contingency plans and preparing new steps to increase foreign currency market liquidity by the end of December, per Reuters. 

South Korean authorities further stated that they will work with the Bank of Korea (BoK) on the outright purchase of Korea Treasury Bonds (KTBs) if needed. 

Market reaction

At the time of writing, the USD/KRW pair is trading 0.12% higher on the day to trade at 1425.38.