South Korea’s Finance Minister Calls Emergency Market Review Meeting, Vows Crackdown on Won Speculation

South Korea’s finance minister chaired an emergency market assessment meeting and said the government would not tolerate excessive volatility in the foreign exchange market. According to Odaily, the minister said authorities will not accept herd behavior in currency trading. The minister said regulators will conduct reviews to identify speculative activity in the foreign exchange market and will impose strict penalties on speculative investments targeting the South Korean won. The minister also said the government will investigate any illegal transactions by importers and exporters.