South Korea's finance minister Tuesday dismissed anxiety over the overall financial market conditions as "groundless," placing emphasis on the country's relatively strong fiscal and economic fundamentals. "Major lessons that we have learned from financial crises in the past were that we should neither trust our economy too much nor feel complacent about it," Finance Minister Hyun Oh-seok told a meeting with other economy-related policymakers. "But we should also know that any groundless anxiety is not desirable either." He said that unlike other emerging countries, South Korea maintains its current account and fiscal status in surplus and that major foreign investment banks and media are paying attention to its robust economic and financial fundamentals. As for concerns raised by some foreign media, which cited South Korea as one of the countries where the so-called "cheap dollar" has flowed into excessively, Hyun said, "It is not the case." "South Korea is one of the countries whose debt structures have improved the most since the quantitative easing polices that were put in place by major economies," he said. "In the case of our bond market, the overall investment base is also stable given the low ratio of foreign investment and high proportion of money invested by central banks," he added. Hyun said that the government is closely monitoring the possible impact that the external risks could have on its financial market and economic conditions. It is also stepping up information-sharing and reviewing existing contingency plans to better cope with any unexpected developments.
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:07 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 17:22 2018 Wednesday ,31 October
Russia climbed to 31st place in Doing Business-2019 ratingGMT 16:53 2018 Wednesday ,17 October
"Putin" We need for collective restoration of Syria's economyGMT 14:02 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 18:26 2018 Saturday ,06 October
Dubai attracts Dh17.7 billion in foreign direct investmentGMT 09:02 2018 Friday ,21 September
Economy of Georgia demonstrates "strong signs of recovery"GMT 09:03 2018 Wednesday ,24 January
German investor confidence surges in JanuaryMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor