Economics
South Korean Policymakers Urge Calm Against Global Market Rout
- Markets reacting ‘excessively,’ South Korean officials say
- US recession fears may weigh on South Korea’s exporters
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South Korea’s policymakers urged calm against a global market rout that has sent the country’s top companies plunging in stock markets, seeking to restore confidence in an economy that continues to grow on an export rally.
Bank of Korea Governor Rhee Chang-yong, Finance Minister Choi Sang-mok and presidential economic advisor Park Chun-sup attended the emergency meeting in Seoul on Tuesday and agreed that they should conduct “calm and rational decision making,” according to a statement from the government.