South Korea’s planning and finance ministry official (Minister of the Ministry) Fang Jishan said today that the current economic situation is grim, the government pays close attention to market trends, and if the market turmoil intensifies, the emergency plan will be launched in phases.

South Korea’s joint news agency pointed out that Fang Jishan presided over the joint monitoring group meeting, saying that the United States listed China as a currency manipulator, the global economic uncertainty is increasing, and the domestic financial foreign exchange market volatility may be further expanded.

Fang Jishan pointed out that the fundamentals of the domestic economy are still stable, and it is necessary to calmly observe the market trend. If the market is too volatile, the government will quickly adopt stabilization measures based on the emergency plan.

The report pointed out that the planning of the Ministry of Finance emergency plan is divided into three stages. When the market volatility of the first stage expands, the government strengthens market monitoring and stabilizes market psychology; the second stage is capital tightness, the real economy slows down, the government will further release liquidity funds; the third stage is the outflow of capital, the real economy In the downturn, it is committed to stabilizing the financial system and implementing expansionary macroeconomic policies.

Credit : https://www.cna.com.tw/news/aopl/201908060078.aspx