March 22, 2020 / 11:59 PM / 10 days ago

South Korea says will make all-out effort to prevent credit crunch

SEOUL (Reuters) - South Korea’s government will make an all-out effort to prevent market volatility from turning into a credit crunch as the coronavirus pandemic hammers stocks and bonds across emerging economies, its vice finance minister said on Monday.

Kim Yong-beom also said a new task force within the finance ministry will hold a policy meeting every day to monitor markets and assess if policy actions are needed to stabilize financial markets.

Reporting by Cynthia Kim; Editing by Kim Coghill

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