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South Korea’s economy remains solid - Choo

South Korea’s Finance Minister Choo Kyung-ho said the country’s economy remains solid even as changes in the global economy are gripping its financial markets. At a meeting of the nation’s economic chiefs, Choo said South Kora’s economic fundamentals remain strong even as the Korean won is weakening. He said economic indicators like the credit default swap premium are solid. He also added that the government will take stern measures to curtail speculative trading, which is believed to have worsened the depreciation of the won. Analysts said the depreciation will likely stay for the time being.

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