September 3, 2017 / 11:43 PM / 10 months ago

South Korea finance minister vows swift, stern response if market instability spreads

SEOUL (Reuters) - South Korea’s finance minister vowed on Monday to implement policies to support financial markets if instability caused by North Korea’s latest nuclear weapon test shows signs of spreading to the real economy.

“We are aware that there could be negative ripple effects should geopolitical risks resurface,” Kim Dong-yeon said in a policy meeting urgently scheduled with the central bank and financial regulators before financial markets open.

“We will monitor the economy around the clock and make swift, stern responses to stabilize the markets according to our contingency plan as needed,” Kim said.

North Korea on Sunday conducted its sixth and most powerful nuclear test, which it said was of an advanced hydrogen bomb for a long-range missile, prompting the threat of a “massive” military response from the United States if it or its allies were threatened.

Reporting by Shin-hyung Lee, Cynthia Kim

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