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South Korea will stabilize markets if needed: vice finance minister
March 11, 2017 / 2:33 AM / 10 months ago

South Korea will stabilize markets if needed: vice finance minister

SEOUL (Reuters) - South Korea’s vice finance minister on Saturday said the government will take measures to stabilize markets as needed against any volatility that could arise from the Constitutional Court’s ruling to remove President Park Geun-hye from office.

South Korea Vice Finance Minister Choi Sang-mok speaks during an interview with Reuters in Seoul, South Korea, June 16, 2016. REUTERS/Kim Hong-Ji

“The government-wide task force designed to respond to urgent economic matters will closely monitor financial markets and currencies 24-hours a day and respond swiftly, decisively when abnormalities are seen,” Choi Sang-mok told government officials, according to a statement released after the meeting.

South Korean shares ended at a more than one-week high on Friday and the won also gained slightly as investment sentiment improved after the Constitutional Court parliament’s impeachment of Park over a graft scandal involving the country’s conglomerates.

Reporting by Cynthia Kim; Editing by Simon Cameron-Moore

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