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S.Korea to meet March 11 on impeachment ruling, will act if needed
March 10, 2017 / 7:43 AM / 9 months ago

S.Korea to meet March 11 on impeachment ruling, will act if needed

SEOUL, March 10 (Reuters) - South Korea’s central bank chief on Friday said the bank will meet on Saturday to discuss any market impact from the Constitutional Court’s ruling removing the president, and vowed to stabilize markets if needed.

In a statement after an urgently convened meeting, Bank of Korea governor Lee Ju-yeol said while markets remained stable in large after the court removed President Park Geun-hye, the bank will need to prepare measures to deploy if needed.

Lee will convene a meeting at 10 a.m. local time on March 11 to gauge any further reaction from financial markets, according to the statement.

South Korean shares ended at a more than one-week high on Friday and the won also gained slightly as investment sentiment improved after the Constitutional Court removed Park from office over a graft scandal involving the country’s conglomerates. (Reporting by Cynthia Kim; Editing by Richard Borsuk)

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