Finance Minister Kim Dong-yeon and Bank of Korea Governor Lee Ju-yeol say their institutions will actively respond if foreign exchange overshooting occurs.

The two officials made the remark to reporters in Seoul on Thursday after holding a breakfast meeting.

The dollar-won plunged to its lowest level in three years and two months on the first trading day of the year on Tuesday to the low one-thousand-60 won-range. 

Lee said there are concerns over the stronger Korean won, adding that the central bank will respect the exchange rate being set in line with supply and demand in the market but will actively step up if there are signs of overshooting. 

Kim said the Finance Ministry is on the same page as the central bank.