Watchdog vows to ease jitters over N. Korea's nuke test

SEOUL, May 25 (Yonhap) -- South Korea's top financial regulator said Monday the watchdog plans to make utmost efforts to ease possible jitters stemming from a second nuclear test conducted by North Korea.

"(We have to) closely monitor market situations," Chin Dong-soo, chairman of the
Financial Services Commission (FSC), told reporters at an emergency financial
meeting. "The watchdog will make efforts to dispel market jitters by closely
cooperating with the finance ministry and the Bank of Korea (BOK)."
The Ministry of Strategy and Finance said the government was watching the stock
and currency markets, adding that the Korean won cut earlier losses. It also said
that the government plans to hold a meeting to discuss possible countermeasures
with senior officials from FSC and the BOK Tuesday.
"North Korea's nuclear test is likely to have a limited impact on the markets,"
an official at the finance ministry said.
His remarks come after the North's state-run Korean Central News Agency claimed
that the communist country has successfully conducted a nuclear test, following a
warning of retaliation issued after the U.N.'s condemnation of its rocket launch
in April. North Korea conducted its first nuke test in October 2006.