The Korea Herald


BOK to boost market monitoring over U.N. resolution

By 문예빈

Published : March 8, 2013 - 09:54

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South Korea's central bank said Friday that it plans to beef up its monitoring of the financial markets as the U.N. Security Council's adoption of new sanctions on the North for its nuke test may raise geopolitical risks.

The U.N. Security Council unanimously adopted a resolution Thursday to impose tougher sanctions on North Korea in response to its nuclear test last month. The resolution calls for tighteningfinancial restrictions and cargo inspection on the North, and curbing its development of nuclear weapons and missiles.

"The Bank of Korea (BOK) will strengthen the monitoring of the financial markets as North Korea may make a provocation following the tougher sanctions on the North," said Park Won-shik, the senior deputy governor of the BOK.

"The central bank plans to cooperate with the government to discuss possible measures to stabilize the financial markets if necessary."

North Korea has ratcheted up its war rhetoric against Seoul and Washington, threatening to launch a preemptive nuclear strike against aggressors.

Pyongyang conducted its third nuke test on Feb. 12, in defiance of the international community's outcry condemning the North's December long-range rocket launch. (Yonhap News)