... we will take timely action... "Seoul (ANTARA News) - South Korea will pay close attention to the impact that North Korea's possible missile launch could have on its financial markets, a senior finance ministry official said Tuesday.
Vice Finance Minister Shin Je-yoon also said that the government could convene an emergency meeting to review macroeconomic and financial situations if market anxiety heightens due to North Korea risks.
"We will keep tabs on market situations while closely watching things unfolding in North Korea," Shin told a meeting with other policymakers in central Seoul.
"If the anxiety level heightens due to the North's missile launch, we will take timely action and could convene an emergency meeting to review macroeconomic and financial conditions in line with our contingency plan," he added.
The remarks come amid rising tensions caused by media reports that Pyongyang is preparing to launch what it calls a "working satellite" into space.
The move, however, is regarded by Seoul, Washington and many other countries as a cover for the test of a long-range ballistic missile.
Shin said that the reports on the missile launch have not impacted the domestic financial markets much but still cautioned that such North Korea risks coupled with the prolonged eurozone fiscal problems and a looming crisis over the "fiscal cliff" in the US remain unresolved.
(H-AK)
Editor: Ade P Marboen
Copyright © ANTARA 2012
