South Korea ‘Ready’ for Fresh Credit Support If Needed, Official Says
- Authorities closely monitor commercial paper market: Kim
- Credit market needs more time to stabilize after rout: Kim
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South Korea’s government is closely monitoring the country’s short-term money market and is ready to introduce additional measures to ease financial strains if necessary, according to a senior official at the Finance Ministry.
The Finance Ministry, Financial Services Commission and Financial Supervisory Service discuss possible measures needed to stabilize the credit market as they meet on a daily basis, Kim Seong-wook, deputy minister for international affairs, told Bloomberg TV’s Kathleen Hays in an interview. The heads of the three organizations also meet weekly, he said.