Finance Minister Kim Dong-yeon has assured Moodys’ Investors Service that South Korea’s market remains strong due to its economic policies, despite North Korea's recent provocations.

Accompanying President Moon Jae-in on his visit to New York, Kim met with Moody’s Vice Chairman Richard Cantor and Moody’s President Robert Fauber at the company’s headquarters on Tuesday.

Asked about South Korea’s opinions on and responses to the geopolitical risks posed by the North’s nuclear and missile program, Kim ensured its impact on the local market is still limited, citing strong fundamentals of the South Korean economy.

The minister added the Seoul government is ready to implement an emergency response system if necessary.

Minister Kim said the country is also closely working with the U.S. to limit the North Korean risks, while strengthening international alliances, including not only Japan, the U.K. and France, but also China and Russia.