June 14, 2018 / 12:34 AM / in 9 months

South Korea vice finance minister says government ready for higher interest rates, major capital outflow unlikely

SEOUL (Reuters) - South Korea’s vice finance minister on Thursday said the government is prepared to make policy responses against any adverse impact from the Federal Reserve’s interest rate rise.

Speaking to reporters after a policy meeting in Seoul, Ko Hyoung-kwon said the government has been expanding cheap loans through policy financing as corporate fundraising could come under pressure as interest rates rise.

“We have various tools ready to prepare for higher interest rates,” Ko said.

“Capital outflows shouldn’t be too big a concern just because of changes in interest rates.”

Reporting by Shin-hyung Lee, Cynthia Kim; Editing by Sam Holmes

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