First Vice Finance Minister Kim Yong-beom has expressed concerns that a recent resurgence of COVID-19 infections could weaken the economy's recovery momentum.

In a meeting of senior financial officials on Tuesday, the vice minister, however, said the rebound will have a limited impact on the local financial market if the country handles it well.

Kim said at the meeting that there are growing concerns as the nation faces the recent spike following severe flooding damage from the longest-ever monsoon season.

He explained that the reignited outbreak could hamper the economy’s recovery momentum at a time when consumption, production and investment were showing signs of a rebound.

Kim added that the government is closely monitoring financial markets and will actively deal with any volatility.