FSC Chairman Kim Joo-hyun presided over a joint financial market monitoring meeting with the Financial Supervisory Service (FSS) on October 12 and discussed the impact of the Bank of Korea's 50bp rate hike and response strategies. At the meeting, authorities discussed a timely reactivation of the stock market stabilization fund, alleviating financing burdens of businesses and ways to help ease the hardship of vulnerable sectors amid high prices, high interest rates and the weakening currency value.