The government is ready to deploy immediate market stabilization measures, including the injection of "value-up funds" into the country's stock market, Finance Minister Choi Sang-mok said Monday.

Choi made the statement during an emergency meeting with top economic and financial officials, as South Korea grapples with the fallout from President Yoon Suk Yeol's declaration of martial law last Tuesday. The declaration was overturned by the National Assembly just hours later.

"We are prepared to activate market stabilization measures, such as the value-up funds, immediately if needed," Choi said.

The ministry said value-up funds worth 30 billion won ($21 million) have already been injected into the stock market, with an additional 70 billion won scheduled to be deployed this week. Another 30 billion won is set to follow shortly after.

Next week, the government also plans to roll out a second round of stabilization funds worth 300 billion won.

Structural measures to improve foreign exchange liquidity and inflows will also be announced later this month, the ministry added.

The Korean won plunged to a two-year low early Wednesday after the martial law was lifted, while the stock market suffered significant losses due to heavy foreign selling.

In response, the government has pledged to inject "unlimited liquidity" into the financial system as necessary. The Bank of Korea has begun repo operations for financial institutions.

In a meeting with heads of financial holding companies, Kim Byoung-hwan, the chief of the Financial Services Commission, urged them to check liquidity and ensure prudence at their affiliates.

Kim also called on them to better communicate with foreign investors and financial institutions for the country's financial resilience. (Yonhap)