The government is making all-out efforts to minimize any impact the spread of the new coronavirus could have on the nation’s financial market and real economy. 

The government convened a meeting chaired by First Vice Finance Minister Kim Yong-beom on Friday to discuss possible ramifications.  

On the nation’s financial market, Kim said volatility is expanding, adding that such tendencies are expected to continue for the time being until global jitters over the virus ease. Kim stressed the need to observe the market with a cool head instead of excessive anxiety.  

The vice minister added that the virus has had a limited impact on the real economy. However, he said negative effects cannot be ruled out if the global economy contracts and hopes for improved economic conditions are dampened in line with developments in the outbreak.