Seoul – South Korea Finance Minister Vows Swift, Stern Response If Market Instability Spreads

North Korean leader Kim Jong Un waves at a photo session with attendants in the fourth Active Secretaries of Primary Organization of KPA Youth in this undated photo released by North Korea's Korean Central News Agency (KCNA) in Pyongyang September 1, 2017.  KCNA via REUTERS
North Korean leader Kim Jong Un waves at a photo session with attendants in the fourth Active Secretaries of Primary Organization of KPA Youth in this undated photo released by North Korea’s Korean Central News Agency (KCNA) in Pyongyang September 1, 2017. KCNA via REUTERS

 

Seoul – South Korea’s finance minister vowed on Monday to implement policies to support financial markets if instability caused by North Korea’s latest nuclear weapon test shows signs of spreading to the real economy.

“We are aware that there could be negative ripple effects should geopolitical risks resurface,” Kim Dong-yeon said in a policy meeting urgently scheduled with the central bank and financial regulators before financial markets open.

“We will monitor the economy around the clock and make swift, stern responses to stabilize the markets according to our contingency plan as needed,” Kim said.

North Korea on Sunday conducted its sixth and most powerful nuclear test, which it said was of an advanced hydrogen bomb for a long-range missile, prompting the threat of a “massive” military response from the United States if it or its allies were threatened.

As reported by Vos Iz Neias