Deputy Prime Minister and Finance Minister Kim Dong-yeon has dismissed concerns about the South Korean economy, stressing strong fundamentals.
 
Kim unveiled the view on Thursday when he chaired a meeting of economy-related ministers in Seoul. He was responding to media reports about raised concern over North Korea’s nuclear and missile threats on the nation’s economy.
 
Kim said the only concern is recent foreign selling in the local stock market. However, the minister expected that the trend will be short-lived, citing the soundness of the South Korean economy, including record high foreign exchange reserves, and high sovereign ratings for South Korea by global credit rating agencies.