financial market-NK impact

SEJONG, April 4 (Yonhap) -- South Korea will hold a meeting to gauge the impact of North Korea's ever-intensifying war threats on the country's economy and financial market, the finance ministry said Thursday.

The meeting, scheduled for Friday morning in Seoul, will be attended by senior policymakers of the finance ministry, the Financial Services Commission, the Financial Supervisory Service and the Bank of Korea, according to the ministry.

This is in response to growing worries that the North's bellicose rhetoric could hurt and destabilize the country's economic and financial market conditions, the ministry said.

"The meeting will be convened to review market situations that could change due to development related to North Korea," a ministry official said.

The meeting will be presided over by Vice Finance Minister Choo Kyung-ho. Deputy chiefs of each organization will attend the gathering, the official said.

With tensions escalating on the Korean peninsula, South Korea's financial markets lost its ground sharply on Thursday, driven by a massive foreign sell-off.

The benchmark Korea Composite Stock Price Index (KOSPI) closed at 1,959.45, down 1.2 percent from the previous day's close, with the local currency ending at 1,123.8 won, down 6.3 won from the previous day.

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