SEOUL, Dec 17 (Reuters) - South Korea’s vice finance minister said on Thursday the government plans to form a task force to change its existing capital controls by the end of June next year, a move aimed at mitigating short-term capital inflows.
“We are aiming to have something ready by the end of the first half of next year,” said Vice Finance Minister Joo Hyung-hwan to reporters on the sidelines of a meeting in Seoul.
“The situation has slightly changed from when we first announced them.”
The changes will be part of government plans announced earlier this week in anticipation of a rate hike in the U.S. that was made on Wednesday. (Reporting by Christine Kim; Editing by Sam Holmes)