Brexit Fallout

[Anchor Lead]

Fortunately for the Korean economy, the Brexit vote has had limited impact on the local market. Nonetheless, President Park Geun-hye has ordered her administration to maintain its emergency response regime to make sure the market is stable.

[Pkg]

Presiding over a meeting with her senior advisers, President Park Geun-hye expressed concerns over the growing uncertainty in the financial market and the outflow of capital from emerging markets following the U.K.'s decision to leave the E.U. She ordered her administration to maintain its emergency response regime around the clock because the nation's economy is facing more serious conditions than ever.

[Soundbite] Park Geun-hye(President) : "Make sure to take all necessary measures to stabilize the market and minimize the impact on the domestic economy."

Park warned against excessive panic in the market and stressed that Korea's financial soundness was strong enough to respond to economic shocks properly.

[Soundbite] Park Geun-hye(President) : "Let's think of this as momentum for taking a step forward and pulling together."

President Park will preside over a meeting with the National Economic Policy Consultation Committee and an economic ministerial meeting on June 28 to discuss policies that will help the nation respond to the tight economic situation in the global market.