South Korea central bank vows to strengthen monitoring of financial stability risks

SEOUL – South Korea’s central bank said on Monday it will step up monitoring of the impact of higher interest rates on the stability of the financial system.

The Bank of Korea will cooperate with regulators for policy efforts on easing debt burdens for those facing difficulties, it said in a statement after a meeting by Governor Rhee Chang-yong and Financial Services Commission chairman Kim Joo-hyun.

(Reporting by Cynthia Kim; Editing by Kim Coghill)