S.Korea’s vice finance minister says to act swiftly if volatility in financial market rises

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SEOUL (Reuters) – South Korea’s government “will act swiftly and boldly upon (its) contingency plans in case volatility in the financial market rises,” Vice Finance Minister Kim Yong-beom said on Monday, adding it would also take market stabilization measures if volatility in the foreign-exchange market rises.

Kim also said at a meeting of senior financial and economic officials that there were possibilities of volatility increasing in financial and foreign-exchange markets if the United States imposes additional tariffs against China on Dec. 15.

Regarding the recent foreign capital outflow in the benchmark KOSPI index .KS11, Kim said it was because of rising external uncertainties and MSCI index rebalancing.

Reporting by Joori Roh; Editing by Peter Cooney

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