Korea's finance minister on Friday discussed measures to stabilize financial markets amid growing concerns over rising interest rates and heightened volatility in global markets amid renewed tensions in the Middle East. Finance Minister Koo Yun-cheol reviewed the latest developments in global and domestic financial markets with relevant officials, according to the Ministry of Finance and Economy. During the meeting, the participants assessed that upward pressure on interest rates has continued due to increased government bond issuance around the globe and corporate bond sales by global artificial intelligence (AI) businesses. The participants also pointed out that rising crude oil prices amid renewed tensions in the Middle East could increase financial market volatility, vowing to closely monitor the situation. The government additionally vowed to protect vulnerable borrowers from rate hikes, noting that current conditions remain generally manageable but could deteriorate if interest rates rise sharply. During the meeting, the participants also reviewed progress in reforming the tech-heav