이 누리집은 대한민국 공식 전자정부 누리집입니다.
Biz News Korea(Eng)
Korea govt on emergency alert on economy: fin min-nominee
- Collected
- 2016.11.08
- Distributed
- 2016.11.09
- Source
- Go Direct
The Korean markets have been battered by political unrest with the president pressured by civilians and politicians to step down amidst unprecedented power abuse scandal on top of sluggish domestic demand, dangerous debt levels, and corporate restructuring.
The economy is “on thin ice," he declared in an economy-related meeting on Monday, pledging to tighten coordination and cooperation with economy-related government offices and the central bank and keep around-the-clock watch on domestic and oversea financial markets.
“We will not hesitate in employing market stabilization action according to our contingency outline upon signs of need,” he said.
The former financial chief told the Financial Supervisory Service to strengthen watch on foreign-currency liquidity and committed credit levels of local banks.
The committed credit line is an agreement between a financial institution and a borrower that the borrower can receive loans with fixed fee in preparation for liquidity shortage during a time of economic crisis.
The Korean composite stock price index closed Monday at 1,997.58, up 15.56 points. The won rose against the U.S. dollar at 1,143.50 won, up 1.50 won.
By Chung Seok-woo
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]