South Korea's Finance Minister announces contingency plans for financial markets after the US Federal Reserve's interest rate cut.

South Korea's Finance Minister Choi Sang-mok announced readiness to implement contingency plans for financial markets following the U.S. Federal Reserve's recent interest rate cut. He expects a gradual decline in household debt growth but will monitor it closely. The government aims to boost domestic consumption and stabilize livelihoods while collaborating with the Bank of Korea to mitigate risks associated with global market changes.

September 19, 2024
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