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Economic news

South Korea to respond if market volatility heightens excessively, finance minister says

11/07/2024

Less than a minute

2024.11.07 19:27

SEOUL (Reuters) – South Korea’s finance minister said on Friday that authorities will respond in a timely manner if volatility heightens excessively in financial markets.

© Reuters. FILE PHOTO: Korean Finance Minister Choi Sang-mok speaks during a trilateral meeting with U.S. Treasury Secretary Janet Yellen and Japanese Finance Minister Shunichi Suzuki on the sidelines of the IMF/G20 meetings, at the U.S. Treasury in Washington, U.S., April 17, 2024. REUTERS/Kevin Lamarque/File Photo

Minister Choi Sang-mok said the government’s 24-hour monitoring system, which had been run to monitor the Middle East situation, would be expanded to cover financial and foreign exchange markets.

Choi made the comments at a meeting with top economic and financial policymakers to review the implications of the U.S. Federal Reserve’s policy meeting outcome.

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11/07/2024

Less than a minute