Mnister of Finance and Economy Koo Yoon-chul, third from left, speaks at a meeting regarding the economic situation in the Middle East at the National Assembly, Friday. Yonhap
The Ministry of Finance and Economy said Friday it held a meeting this week with global institutional investors in Hong Kong to provide information on the Korean economy amid growing uncertainties from the Middle East conflict.
The meeting, held Thursday (local time), was attended by high-ranking officials from various global financial institutions, including Citibank, HSBC and JPMorgan Chase & Co., according to the ministry.
A round table session with 16 participants from 10 financial institutions was also held during the one-day event.
The ministry emphasized that Korea's economy has been showing signs of recovery since the second half of last year, while external stability remains robust, supported by sufficient foreign exchange reserves and a high level of net foreign assets.
On the escalating conflict in the Middle East, the ministry told participants that Korea is capable of responding to uncertainties stemming from the war, highlighting the country's stable macroeconomic situation, as well as its ample energy reserves, it said.
It also introduced various measures to improve foreigners' access to the local capital market, including plans to expand the country's foreign exchange market operations to 24 hours.
Source: Korea Times News
