S. Korea makes efforts to tackle foreign capital shortage

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(Xinhua)
Updated: 2008-09-26 10:51

SEOUL -- South Korea's Finance Minister Kang Man-soo said Friday that the government will take "preemptive" efforts to tackle a shortage of US dollars in the capital market, which was hit early last week by financial turmoil in the US market.

"We will continue to make efforts to stabilize the market," Kang said.

Kang said that US financial market will stabilize, if the Washington-led US $700 billion bail-out package aimed at buying bad debts from Wall Street passes through Congress by next week.

He added that the South Korean government will make best effort to help small and medium sized enterprises that have been particularly struck by the financial turbulence.