South Korea president says must prepare contingency plans for external shocks

[SEOUL] South Korean President Park Geun-hye said on Wednesday uncertainties could increase for the local economy if volatility in global financial markets increases after the Federal Reserve interest rate decision.

Ms Park said in remarks ahead of a meeting at the presidential Blue House that export conditions are still difficult for South Korean businesses.

She said authorities should prepare contingency plans for possible crises, pointing out that other emerging economies face a high risk of becoming unstable.

REUTERS