The iShares MSCI South Korea ETF, which tracks more than 90 large and mid-sized companies in South Korea, tumbled 6% to hit a 52-week low.

It's the first time martial law was declared in South Korea since 1980. Stocks plunged, but the market stabilized as parliament voted to lift the order.

South Korean assets tumbled after the country’s president declared martial law, sparking investor concern about political instability and unrest.

South Korea's finance ministry said on Wednesday it is ready to deploy "unlimited" liquidity into financial markets if needed after President Yoon Suk Yeol lifted a martial law declaration he imposed overnight that pushed the won to multi-year lows.

South Korea’s President Yoon Suk Yeol lifted his order that put the country under martial law, reversing his declaration hours after announcing it.

The iShares MSCI South Korea ETF, which tracks more than 90 large and mid-sized companies in South Korea, tumbled 6% to hit a 52-week low.