March 13, 2018 / 7:24 AM / a year ago

BOK says a successful Trump-Kim summit would stabilize South Korea financial markets

SEOUL (Reuters) - A successful meeting between U.S. President Donald Trump and North Korean leader Kim Jong Un would help stabilize South Korean financial markets and improve sentiment for consumers and investors, South Korea’s central bank chief said on Tuesday.

In a statement prepared for a parliamentary hearing, Governor Lee Ju-yeol said a successful meeting between Trump and Kim would be credit positive for South Korea’s sovereign rating, and reduce capital outflow risks.

A successful summit could also strengthen the won in currency markets, although Lee said it was too early to discuss the exact impact on the economy.

Lee is scheduled to attend a parliamentary confirmation hearing on March 21 before he starts his second term in April. Lee was reappointed by President Moon Jae-in to lead the BOK for another four years.

U.S. President Donald Trump has agreed to meet North Korea’s Kim by the end of May. South Korean President Moon Jae-in also plans to hold a summit with Kim by the end of April.

Reporting by Cynthia Kim; Editing by Sam Holmes

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