South Korean Finance Minister Chairs Emergency Meeting, Warns of Strict Crackdown on Forex Market Speculation

Odaily reported that South Korea's Finance Minister chaired an emergency market assessment meeting.

The Finance Minister stated that excessive volatility in the foreign exchange market is undesirable and that the government will not tolerate herd behavior in the forex market. Regulatory authorities will conduct reviews to identify speculative activities in the forex market and impose severe penalties on speculative investments targeting the Korean won.

Furthermore, the Finance Minister said that investigations will be carried out into any illegal trading activities by importers and exporters. (Jin Shi)