[THE INVESTOR] Vice Minister of Strategy and Finance Choi Sang-mok said on June 24 that economy related government bodies will launch a team for responding to Brexit.

At the emergency meeting of economic and financial authorities on concerns at the UK’s exit from the European Union, Choi said that the government will use all means possible to minimize the impact on the Korean economy.

However, Choi said that Korea’s large foreign reserves and trade surplus will help it weather the effects of Brexit.

Choi said UK’s departure will increase uncertainties in the international market that will also affect Korea, but the country is likely to feel the impact less acutely that other countries.

By Choi He-suk (cheesuk@heraldcorp.com)