When asked if a supplementary budget might be drawn up in case the Middle East crisis is prolonged, Kim said: “If any additional financial resources are needed…we have to seriously think about it.”
Earlier on Monday, President Lee said a KRW100 trillion ($66.94 billion) market stabilisation programme should be expanded if needed, and called on the government and the central bank to prepare additional measures to respond to the volatility of the financial and foreign exchange markets.
The benchmark KOSPI closed six per cent lower on Monday, after falling as much as nine per cent to trigger circuit breakers for a second time this month.
The won weakened nearly one per cent to trade near a psychological barrier of 1,500 per dollar, while the benchmark bond yield hit more than two-year highs.
(Reporting by Kyu-seok Shim, Joyce Lee and Jihoon Lee Editing by Ed Davies)
