The government has stressed it will swiftly and sternly implement measures on stabilizing the financial market if deemed necessary. 

First Vice Finance Minister Kim Yong-beom announced the stance on Friday during a meeting with private experts on mounting uncertainties in the global and domestic financial markets.  

He said if global financial markets continue to suffer blows, South Korea’s financial system could face major burdens. Kim also expressed concerns that economic consequences and volatility in the financial market could last for a long period of time in line with developments in the COVID-19 outbreak.  

Kim said the government regards the outbreak as a serious state that is proportionate to a crisis and is thoroughly monitoring the nation’s financial system.