SEOUL: South Korea's vice finance minister on Thursday said the government is preparing for a possible global credit crunch due to the disruptions caused by the coronavirus pandemic and vowed to deploy market stabilizing measures in a timely manner.
"It isn't just an issue for us (Korea) but foreign investment from equity are flowing out of the country across emerging markets and are adding pressures to stocks and FX markets," Kim Yong-beom said in a policy meeting.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!