SEOUL (Reuters) – South Korean President Yoon Suk-yeol on Friday called for more sense of urgency in dealing with heightened volatility in financial markets and promised to take contingency measures in a timely manner.
“We have built a stronger breakwater than in the past in terms of external soundness and already implemented market stabilising measures, but it is time to deal with the situation with a sense of more urgency,” Yoon said at the beginning of a meeting.
It was the third such meeting to review economic and financial conditions since he took office in early May, which a central bank official and executives from several top companies also attended, according to the presidential office.
South Korea’s won currency has lost 17% of its value against the U.S. dollar this year while its main share index has slumped 27%.
(Reporting by Choonsik Yoo; Editing by Kim Coghill)
