South Korea says will act to stabilize markets if North Korea risks resurface

South Korean Finance Minister Kim Dong-yeon waits for U.S. Treasury Secretary Steve Mnuchin before their meeting during the IMF/World Bank annual meetings in Washington
South Korean Finance Minister Kim Dong-yeon waits for U.S. Treasury Secretary Steve Mnuchin before their meeting during the IMF/World Bank annual meetings in Washington, U.S., October 14, 2017. REUTERS/Yuri Gripas

November 3, 2017

SEOUL (Reuters) – South Korea’s finance minister pledged on Friday to take policy measures to stabilize the financial market should risks related to North Korea arise.

“Should North Korea risks resurface and financial market volatilities widen, swift and stern responses will be made,” Kim Dong-yeon said at a meeting with other ministers in Seoul.

Kim said that while the benchmark KOSPI was breaking record highs on robust foreign buying, uncertainties related to monetary policies of the European Central Bank persist in the financial market.

The South Korean won <KRW=KFTC> is trading near the year’s high. As of 0614 GMT, it was at 1,113.7 per dollar.

(Reporting by Shin-hyung Lee, Cynthia Kim; Editing by Jacqueline Wong)