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The Korea Herald
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THE INVESTOR
March 29, 2024

Finance

Korea braces for ‘worst-case’ economic scenario

  • PUBLISHED :December 23, 2016 - 17:34
  • UPDATED :December 23, 2016 - 17:34
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[THE INVESTOR] A top South Korean financial regulator on Dec. 22 demanded painstaking preparations for measures against a host of risks, saying the authorities don’t rule out the possibility of a “worst-case” scenario.

Presiding over an emergency meeting on financial market situations, Jeong Eun-bo, vice chairman of the Financial Services Commission, quoted the pace of the US interest rate hike, the incoming US administration’s policy direction, the Brexit-related situation, instability in China’s foreign exchange market and European banks’ troubles.

“Recently, South Korea’s financial market has not been seriously tottering. But as internal and external risk factors lurk in the market, it’s necessary for all financial circles to be vigilant and review such risks and respond in a pre-emptive manner,” he said during the session joined by senior officials at the Financial Supervisory Service.

He stressed that the “worst-case scenario should be considered,” adding the authorities are monitoring the market trend at home and abroad around the clock.

(theinvestor@heraldcorp.com)

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