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South Korea central bank: market impact of impeachment vote seems limited
December 10, 2016 / 2:46 AM / a year ago

South Korea central bank: market impact of impeachment vote seems limited

SEOUL (Reuters) - South Korea’s central bank said on Saturday the financial market impact of parliament’s vote to impeach President Park Geun-hye seemed limited, but vowed to closely monitor the markets.

Bank of Korea Governor Lee Ju-yeol attends at a news conference at Seoul Foreign Correspondent's Club January 22, 2015. REUTERS/Kim Hong-Ji

“There seems to be limited impact,” the Bank of Korea said in a statement after a meeting to review policy measures to contain any fallout from Friday’s impeachment vote.

The bank’s Governor Lee Ju-yeol asked his officials to closely monitor the markets as uncertainties are high, the bank said.

The impeachment vote must be approved by the Constitutional Court, a process that could take months. Prime Minister Hwang Kyo-ahn assumes presidential duties on an interim basis until the court’s ruling.

Reporting by Cynthia Kim; Writing by Tony Munroe; Editing by Robert Birsel

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