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Financial market: measures will be taken quickly following the firing of missile from the North



SEJONG, July 05 (Yonhap) - The South Korean government said on Wednesday it will take firm action quickly against the turmoil in the local financial market caused by the latest launch of Korea's intercontinental ballistic missile (ICBM) North.

Yesterday morning, the North fired a ballistic missile and claimed to have successfully launched an ICBM launch.

Governmental agencies related to the economy and finance, including the Ministry of Strategy and Finance, the Financial Services Commission (FSC) and the Bank of Korea, held an emergency meeting in Seoul to discuss ways To address the possible impact of the latest North Korean provocation.

The government will strengthen day-to-day market surveillance and take immediate action in accordance with its established contingency plan.

He assured that there is no direct impact currently on the stock markets and foreign exchange despite reports on the ballistic launch of Pyongyang. "But we will not lower custody as North Korean risks have emerged in a context of growing external uncertainties, such as thorny commercial issues," the Finance Ministry said in a statement.

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