Vice Finance Minister Kim Yong-beom said on Monday that South Korea will move swiftly to stabilize its financial markets in case of increased volatility caused by the trade war between the United States and China.

Kim made the remarks during a meeting with senior economic and financial officials at the government complex in Seoul.

Kim said that volatility may increase if the U.S. imposes additional tariffs against China later this week.

He said that in case of a sharp fluctuation in the foreign exchange market, the government will take steps to stabilize the market according to its contingency plan in a timely manner. 

The U.S. earlier said that it will impose additional tariffs on 156 billion dollars of Chinese goods from December 15.