section_path: Events/Immediate impact
section_name: Immediate impact
paragraph_text: Immediate impact
  
  The announcement of martial law was met by surprise and panic amongst the South Korean public. Following the declaration, the government said that activities in educational institutions and transport services would continue to operate normally. Panic-buying occurred in convenience stores nationwide. Demand for Telegram and VPNs increased after disruptions to internet portal Naver prompted fears of government censorship, although Naver and Kakao attributed this to an increase in user traffic. The Ministry of Science and ICT said it had not received any requests related to martial law.
  
  Following the announcement, the Korean won fell to 1,444 against the US dollar, its weakest level in 25 months. It later rose to around 1,420, still weaker than the previous day's rate of 1,403. The iShares MSCI South Korea ETF decreased by 5%. Franklin FTSE South Korea ETF declined by 4.4% and Matthews Korea Active ETF fell 4.5%. A central bank official said it was preparing measures to stabilize the market if needed. Finance Minister and Deputy Prime Minister Choi Sang-mok convened an emergency meeting among top economic officials.