FSC Secretary General’s statement on FOMC decision



“Federal Open Market Committee’s tapering decision will have limited effects in Korea’s financial market.” FSC Secretary General ruled out the concerns regarding the influence of the US tapering on Korea. However, he didn’t completely leave out the possibility of the effects that the event would pose such as short-term increase in emerging market’s capital inflow and outflow and global financial market volatility.

In response, Korea’s financial authorities will strengthen the domestic financial market oversight while closely monitoring the market conditions in close coordination with the Ministry of Strategy and Finance, Bank of Korea, and Financial Supervisory Service. Moreover, the government is ready to and will carry out necessary measures according to contingency plans if needed.