Finance Minister Choi Sang-mok speaks during a press conference with foreign media in Seoul, Dec. 18. Yonhap

Finance Minister Choi Sang-mok said Wednesday that recent volatility in the foreign exchange market triggered by the martial law debacle is expected to ease, emphasizing active intervention if necessary.

The Korean won weakened sharply against the U.S. dollar shortly after President Yoon Suk Yeol declared a short-lived martial law Dec. 3. Since Yoon's impeachment, the local currency has remained notably above the 1,400-won level.

"It is true that the dollar has strengthened and the recent political uncertainties have increased market volatility," Choi said during a press conference with foreign media held in Seoul. "However, I expect this volatility to ease as the situation progresses."

Choi, who doubles as deputy prime minister for economic affairs, said foreign exchange authorities will respond proactively if excessive volatility occurs.

The government also plans to front-load its budget spending in the first half of next year to bolster the economy amid the political turmoil, the minister said.

"The government will mobilize fiscal resources, including those for public institutions and private investment," Choi said, adding that the government will prepare measures to support socially vulnerable people.

The minister also said a consultation format involving the government, ruling party and opposition parties is being pursued, regardless of the current political tensions.

"Political uncertainties are being addressed in accordance with the constitutional process," Choi assured. (Yonhap)