Finance Minister Koo Yun-cheol speaks during a meeting in Seoul, Thursday. Courtesy of Finance and Economy
Korea's finance minister on Thursday vowed to take "immediate measures" when necessary to address excessive volatility in the foreign exchange market amid the recent sharp decline of the Korean won against the greenback.
Finance Minister Koo Yun-cheol discussed such measures with Bank of Korea Gov. Shin Hyun-song in Seoul, alongside Financial Services Commission Chairman Lee Eog-weon and Financial Supervisory Service Gov. Lee Chan-jin, according to the Ministry of Finance and Economy.
During the meeting, Koo said the government is closely monitoring volatility in the foreign exchange market and vowed to take "immediate measures" when necessary.
"The government is currently monitoring the situation with vigilance so that external uncertainties do not lead to growing market anxiety," Koo was quoted as saying by the finance ministry.
