March 16, 2020 / 11:54 PM / 13 days ago

S.Korea says may face unprecedented financial, economic crisis

SEOUL, March 17 (Reuters) - South Korea’s vice finance minister said on Tuesday the widening fallout from the coronavirus outbreak may lead to unprecedented economic and financial crisis for the country, and vowed to take action to keep credit flowing in the market.

“We will keep in mind that we may face an unprecedented economic and financial crisis,” Kim Yong-beom said in a policy meeting.

Kim also said the government will deploy market stabilizing measures in a timely manner and coordinate with the central bank and financial regulators in the process. (Reporting by Cynthia Kim, Joori Roh; Editing by Himani Sarkar)

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