Top economic and financial authorities said Friday that the financial and foreign exchange markets have "largely stabilized" following the brief imposition of emergency martial law earlier this week.

Such assessment was made during an emergency meeting to evaluate the potential impact of President Yoon Suk Yeol's declaration of martial law late Tuesday, which was reversed within hours by the National Assembly.

Friday's meeting was attended by Finance Minister Choi Sang-mok, the Bank of Korea governor and the heads of the Financial Services Commission and the Financial Supervisory Service.

"The financial and foreign exchange markets have shown an overall stable trend, supported by the government's market stabilization measures," the finance ministry said, quoting the participants.

Shortly after the martial law was lifted, the government announced that it is ready to deploy "unlimited liquidity" into the country's financial markets if necessary to help them stabilize.

The participants also noted that, based on past cases, the impact of political or non-economic factors is typically temporary and limited, the ministry said.

Choi, however, said the government would maintain its 24-hour monitoring response team set up in the aftermath of the martial law chaos, noting that uncertainties from both local and external factors continue to persist. (Yonhap)