기재차관 "미중 추가관세로 변동성 확대시 컨틴전시 플랜 대응" South Korea's senior economic policymakers Monday reviewed domestic and external risks to the local financial markets.
The first vice finance minister emphasized that the government will take measures to help stabilize markets if necessary.
Kim Hyesung reports.
South Korea's first vice finance minister says the government will take swift measures to stabilize the nation's financial markets in case of increased volatility amid the ongoing U.S.-China trade negotiations.
Meeting with senior economic and financial officials on Monday, Kim Yong-beom said there's a possibility of rising financial volatility if Washington imposes new tariffs on 156 billion U.S. dollars of Chinese goods on December 15th as scheduled.
He added that the on-going Hong Kong protests and President Trump's announcement of metal tariffs aimed at Argentina and Brazil also add to the external risks.
In December, foreign investors extended their selling binge of Korean stocks on concerns over the ongoing U.S.-China trade dispute and Korean companies' sluggish earnings.
The Korean won also weakened against the greenback.
First vice finance minister Kim said the government will closely monitor markets and respond with a contingency plan if there's a sharp fluctuation in the foreign exchange market and stock markets.
On a positive note, he added that Korea's current account has continued to record a surplus, hitting around 50 billion U.S. dollars between January and October, and that Korea's foreign currency reserves are at a record high.
Lastly, he vowed to help boost the real economy through structural reform including the labor market and the public sector.
Kim Hyesung, Arirang News.
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