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S. Korea vows to take measures in case of volatility

All News 09:52 January 04, 2019

SEJONG, Jan. 4 (Yonhap) -- South Korea pledged Friday to take measures in case of financial volatility amid concerns that global stock markets may remain unstable for the time being.

"The government will try to minimize any negative side effects that major risk factors at home and abroad could have on South Korea's economy and financial markets," the Ministry of Economy and Finance said in a statement.

The announcement came as Lee Ho-seung, the first vice minister of economy and finance, held a meeting with relevant officials and discussed government measures following a sharp decline in stock markets in the United States and Europe.

Still, the ministry did not elaborate on what it meant by measures.

Uncertainties over a trade war between the U.S. and China have worsened investor sentiment, which in turn weighed on global stock markets.

The ministry said South Korean financial markets have shown signs of relative stability.

South Korean stocks started nearly flat as the benchmark Korea Composite Stock Price Index edged down 0.20 point, or 0.01 percent, to 1,993.50 in the first 15 minutes of trading.

South Korea -- a small, open economy -- depends heavily on exports and foreign capital investment, a situation that makes it vulnerable to external shocks.

S. Korea vows to take measures in case of volatility - 1


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