Bloomberg News

S.Korea’s Bahk Says He Will Act to Stabilize Markets If Needed

May 10, 2012

South Korea will take action to stabilize financial markets if needed as uncertainty has risen over Europe due to recent elections in France and Greece, the nation’s Finance Minister Bahk Jae Wan said.

Asian countries need to create more demand in the region, rather than relying heavily on export-driven growth, Bahk also said in a speech prepared for a forum in Seoul. He urged the creation of a strong financial safety net for Asia against possible capital flow changes due to the euro-zone crisis.

South Korea will continue policy coordination with major countries such as the U.S., China and Japan if needed for market stability, he said.

To contact the reporter on this story: Eunkyung Seo in Seoul at eseo3@bloomberg.net

To contact the editor responsible for this story: Paul Panckhurst at ppanckhurst@bloomberg.net


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