Impact of European debt woes limited in S. Korea: senior official

SEOUL, Feb. 9 — Debt concerns across Europe will have a "limited" impact on South Korea, a senior economic policymaker said Tuesday, adding that the country's exposure to the external risk remains small.

The government will continue to watch market developments in the region, however, in case of increasing uncertainty and market fluctuations, Vice Finance Minister Hur Kyung- wook told reporters.

His remarks come as concerns are growing that sovereign debt problems in Greece and other European nations could undercut the global economic recovery. South Korea's stocks plunged last week amid the turbulence in U.S. and European markets, while its currency lost ground against the greenback.

"As we said before, the direct impact of debt problems in those nations remains limited," he said. "Still, we will continue to watch market developments to brace for the possibility that uncertainties will further intensify and market fluctuations increase," he added. (PNA/Yonhap)

DCT/ebp

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