North Korea's latest missile launch is expected to have a limited impact on South Korea's financial market according to the nation's top economic policymaker.
 
Finance Minister Kim Dong-yeon made the remark in a meeting with economy-related ministers, the Financial Services Commission and the Financial Supervisory Service in Seoul on Wednesday, while also vowing that authorities will take swift actions, if necessary, to cushion any fallout from the latest provocation.

Meanwhile, Minister Kim said financial authorities will firmly deal with the won's rise against the greenback, but any intervention will come only when market volatility is too high.
 
He stressed that the currency rate should be decided by the market but action would be taken if deemed necessary.

The won rose to a two-and-a-half-year high on Tuesday to close at one-thousand-84-point-four won. It strengthened further immediately after the local currency market opened despite the missile launch earlier in the day.