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Top regulator says no need for anxiety about financial market

South Korea's top financial regulator assured local and foreign investors on Friday that the unprecedented impeachment of the country's president won't deal a serious blow to the financial market.

Yim Jong-yong, chairman of the Financial Services Commission, stressed the nation's financial market has experience in successfully riding out a more difficult situation.

Yim Jong-yong, chairman of the Financial Services Commission(Yonhap)
Yim Jong-yong, chairman of the Financial Services Commission(Yonhap)

He also cited a "general assessment that the current financial fundamental is more sound than at any other time."

"There is no need for domestic and foreign investors as well as workers in the financial circles to have any anxiety about our financial market," he emphasized.

He was speaking at an emergency meeting of senior FSC officials held shortly after the Constitutional Court's decision to uphold the National Assembly's impeachment of former President Park Geun-hye over her abuse of power and involvement in a bribery scandal.

The FSC, Yim added, will closely check every possible element that could cause financial instability and take related policy measures. (Yonhap)

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