Tag: Minister of Finance

South Korea's finance minister stepped up his warning on Monday after the won extended its decline against the dollar to its lowest in a year and a half, saying the government was ready to take action against any renewed volatility in the currency market. "We will act swiftly according to our contingency plan and will do whatever is necessary to deal with any excessive volatility in the foreign exchange and other financial markets," Choi Sang-mok said at an urgently convened policy meeting to discuss escalating tensions in the Middle East. He also said the government would extend the fuel excise tax cut for two months until the end of June in an effort to curb inflation amid escalating global geopolitical risks.