Korea’s Bahk says he will act to stabilise markets if needed

12-May-2012 Intellasia | Bloomberg | 7:01 AM Print This Post

South Korea will take action to stabilise financial markets if needed as uncertainty has risen over Europe due to recent elections in France and Greece, the nation’s Finance minister Bahk Jae Wan said.

Asian countries need to create more demand in the region, rather than relying heavily on export-driven growth, Bahk also said in a speech prepared for a forum in Seoul. He urged the creation of a strong financial safety net for Asia against possible capital flow changes due to the euro-zone crisis.

South Korea will continue policy coordination with major countries such as the US, China and Japan if needed for market stability, he said. -By Eunkyung Seo



Category: Korea

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