South Korea Unbothered About Capital Outflows, Finance Minister Says

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Choo Kyung-ho, South Korea’s finance minister has shrugged off the short-term dangers of capital outflows from the Asian financial system as gaps in world charges widen.

At the Group of 20 assembly in Bali, he stated capital outflows from a rustic do not happen on account of a single financial driver comparable to the rate of interest gaps

Choo Kyung further added that there are concerns the U.S. may be headed for more aggressive rate hikes, and widening the rate gap could trigger capital outflows from South Korea.

In June, the U.S Federal Reserve increased benchmark interest rates by a basis point, its the most aggressive rate hike since 1994.


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