ID :
209859
Wed, 09/28/2011 - 06:42
Auther :
Shortlink :
https://oananews.org//node/209859
The shortlink copeid
Global economic uncertainties to persist: financial regulator
SEOUL (Yonhap) - South Korea's top financial regulator said Wednesday the ongoing global economic uncertainties are likely to last for the time being due to a continued slump in the real economy.
"The current global economic and financial markets crises lie on the extension of the 2008 global financial crisis. ... Due to a slump in the real economy, global economic uncertainties are likely to persist for quite a long time," Financial Services Commission Chairman Kim Seok-dong said in a conference.
Kim said coordinated policy efforts are highly unlikely as countries are going through different economic situations.
Room for policy efforts is quite limited since countries have already beefed up expansion policies in the aftermath of the 2008 global financial crisis, he said.
The top regulator also said it seems difficult for the U.S., sagging with its twin debts, and quake-stricken Japan to restore their economic mettle.
Meanwhile, Kim said expanding the local capital market may be one way to reduce South Korea's excessive market volatility.
South Korea is pushing to nurture homegrown investment banks and adopt an alternative trading system, with a goal of introducing a local hedge fund by the end of the year.
"The current global economic and financial markets crises lie on the extension of the 2008 global financial crisis. ... Due to a slump in the real economy, global economic uncertainties are likely to persist for quite a long time," Financial Services Commission Chairman Kim Seok-dong said in a conference.
Kim said coordinated policy efforts are highly unlikely as countries are going through different economic situations.
Room for policy efforts is quite limited since countries have already beefed up expansion policies in the aftermath of the 2008 global financial crisis, he said.
The top regulator also said it seems difficult for the U.S., sagging with its twin debts, and quake-stricken Japan to restore their economic mettle.
Meanwhile, Kim said expanding the local capital market may be one way to reduce South Korea's excessive market volatility.
South Korea is pushing to nurture homegrown investment banks and adopt an alternative trading system, with a goal of introducing a local hedge fund by the end of the year.
