South Korea has vowed to carefully monitor the market and respond proactively to growing uncertainties following the U.S. Fed's decision to raise short term interest rates.
 
Vice Finance Minister Ko Hyoung-kwon said on Thursday during a meeting of chiefs of economy-related ministries that uncertainties regarding the speed of the Fed's future rate hikes are significantly large and the government will deal with them preemptively.

The vice minister said that the South Korean economy is maintaining solid growth, but there is a need to properly manage risk factors to keep the pace of growth stable.
 
He said that the government will closely monitor movements in major countries and fluctuations in the market and the foreign exchange rate. 
 
The U.S. Federal Reserve on Wednesday raised key interest rates by a quarter of a percentage point to a range of one-point-25 percent to one-point-50 percent.