Vice Minister Ki Jae: "Limited Impact from FOMC Results... Market Stabilization Measures Activated if Necessary"

Lee Eokwon, 1st Vice Minister of Strategy and Finance, Closing Remarks After Presiding Over the Macroeconomic and Financial Meeting

Lee Eok-won, First Vice Minister of Strategy and Finance, presides over and speaks at the Macroeconomic and Financial Meeting held on the morning of the 16th at the Bankers' Hall in Myeong-dong, Jung-gu, Seoul. (Photo by Yonhap News)

[Sejong=Asia Economy Reporter Moon Chaeseok]

On the 16th, Lee Eokwon, the 1st Vice Minister of the Ministry of Economy and Finance, chaired the Macroeconomic and Financial Meeting and commented on the U.S. Federal Open Market Committee (FOMC)'s decision to accelerate tapering (asset purchase reduction), stating, "It does not significantly deviate from international financial market expectations, and the impact on the domestic financial market is limited; however, it is difficult to rule out the possibility of increased volatility as risk factors unfold."

He added, "We will closely monitor the trends of major monetary authorities, the global economy, and the development of variant viruses, and if necessary, we plan to proactively and swiftly implement market stabilization measures according to the prepared contingency plan."

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