The won-dollar exchange rate and KOSPI index are displayed on a screen at a dealing room of Hana Bank in central Seoul, Wednesday. Yonhap
Recent volatility in the Korean won appears excessive relative to the country's strong economic fundamentals, a senior financial official said Wednesday, noting the government stands ready to take necessary measures if the need arises.
Second Vice Finance Minister Huh Chang made the remarks during a meeting with representatives from foreign banks and investors, including Goldman Sachs and Deutsche Bank, where participants exchanged views on recent market conditions, according to the Ministry of Finance and Economy.
During the meeting, Huh said the Korean financial market has faced external uncertainties, including stalled peace talks related to the Middle East conflict and growing concerns over global inflation, which prompted foreign investors to sell local shares.
The second vice finance minister, however, said volatility in the foreign exchange market appears excessive compared with the country's overall economic fundamentals.
