Gov't reiterates stern measures against speculative trading amid FX volatility

The Korea Times

Gov't reiterates stern measures against speculative trading amid FX volatility

Korea's finance ministry on Tuesday reiterated its commitment to tackling speculative trading that disrupts market order amid the recent slide of the Korean won against the greenback. Moon Ji-sung, deputy minister for international economic affairs at the Ministry of Finance and Economy, made the remark during a meeting with senior officials from financial companies, including KB Kookmin Bank, along with the Seoul offices of BNP Paribas, HSBC and JPMorgan. During the meeting, Moon said the government remains vigilant over the recent market situation, with relevant organizations closely monitoring market trends and major trading flows. "The government will take stern actions against market-disrupting activities that damage market order or spark one-sided movements in the foreign exchange market," Moon was quoted as saying by the ministry. To this end, Moon told the participants Korea is currently preparing to inspect speculative trading in the foreign exchange market, adding related bodies will carry out on-site investigations. Moon added market participants need to play a responsible role

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