Hong Nam-ki: "No Hesitation in Implementing Measures to Stabilize Financial and Foreign Exchange Markets"

Hong Nam-ki, Deputy Prime Minister for Economy and Minister of Strategy and Finance. (File photo) [Image source=Yonhap News]

[Asia Economy Reporter Joo Sang-don] Deputy Prime Minister and Minister of Strategy and Finance Hong Nam-ki stated on the 24th, "The government will not hesitate to implement thorough preparations and measures to stabilize the market so that the financial foreign exchange market does not waver."

Deputy Prime Minister Hong wrote on his Facebook that day, "We plan to monitor the foreign exchange market situation and implement prepared measures in a timely manner."

That night, Hong attended the 'G20 Emergency Finance Ministers and Central Bank Governors Meeting' held via video conference. He said, "G20 member countries assessed the economic ripple effects of COVID-19, the expanding number of deaths, and the unpredictable end date as the greatest risks due to uncertainty," adding, "I believe the essential requirements to eliminate this uncertainty and free the people from fear are 'quarantine' and 'the proper role of the medical system.'"

He also reiterated the necessity of international cooperation. Hong said, "No matter how well one country responds, if all countries do not work together, the effectiveness will be limited," and added, "We will keep all possibilities open and think intensely about what the optimal means for people's livelihoods is, along with agile international cooperation comparable to wartime response."

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