Korean finance minister chairs emergency meeting, warns of strict crackdown on foreign exchange market speculation

Odaily Planet Daily News: The Korean Minister of Economy and Finance chaired an emergency market assessment meeting.

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

Additionally, the Korean finance minister said that investigations will be conducted into any illegal transactions by importers and exporters. (Jinshi)