September 29, 2017 / 12:48 AM / a year ago

S.Korea to stabilise markets if needed over Chuseok holiday week

SEOUL, Sept 29 (Reuters) - South Korea’s finance ministry said it would act to stabilise any financial market volatilities across the long Chuseok holiday week Oct. 2-9, as tensions over North Korea remain elevated.

“The government and related agencies will remain on emergency mode through the Chuseok holiday and monitor (markets) 24-hrs a day,” the ministry said in a statement after an urgently scheduled meeting with the Bank of Korea and financial regulators to discuss recent market volatilities.

“In cases of unexpected events, the plan is to take swift and stern actions according to contingency plans,” the statement said.

South Korea’s markets will be closed during Chuseok holiday and other public holidays from Oct 2 to Oct 9. (Reporting by Cynthia Kim; Editing by Michael Perry)

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