South Korea's vice finance minister has noted there has been no extraordinary sign of contingencies in the financial market after the North's long-range missile launch.

Vice Finance Minister Choi Sang-mok held an emergency macroeconomic finance meeting on Wednesday with members from the Financial Services Commission and the Bank of Korea.

Choi, however, stressed that a prompt measure to stabilize the market will be put in place should there be any extraordinary implications stemming from international sanctions on the North and additional provocation by the regime.

The vice minister said the stock market indexes in major economies including Japan's have dropped during the Lunar New Year holiday period, but the drop is likely caused by the fall in international oil prices. He added the risks resulting from North Korea will have a limited impact on the South Korean stock market.

Choi still added that around-the-clock monitoring will be strengthened to watch for any abnormalities.