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S. Korea focuses on minimizing impact of tapering risks

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(Globalpost/GlobalPost)

SEJONG, March 13 (Yonhap) -- South Korea will run its policy in a way that minimizes the impact of risks facing emerging countries caused by the U.S. move to taper its economy stimulus program, the country's top economic policymaker said Thursday.

"The government will step up its monitoring on the overall risks facing emerging economic blocs and work hard to minimize the impact that they could have on our real economy and domestic foreign currency markets," Finance Minister Hyun Oh-seok told a meeting with other policymakers.

He added that the government will also establish strategies aimed at attaining "trust-based win-win" cooperation with emerging countries to bring more energy into the innovation efforts currently underway here.

Touching on measures to help small- and mid-sized companies advance into Southeast Asian markets, Hyun said that the region is geologically close to South Korea and has many merits such as low labor costs.

But he noted that the government still needs to increase its policy support for SMEs seeking to make inroads into the markets, citing instability in macroeconomic conditions, a lack of infrastructure and fluid political situations there.

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http://www.globalpost.com/dispatch/news/yonhap-news-agency/140312/s-korea-focuses-minimizing-impact-tapering-risks