South Korea's central bank to keep close tabs on currency market

South Korea's central bank will stay vigilant to closely monitor the cross-border movement of foreign capital and take steps to stabilize the financial markets if needed, its chief said Friday. Bank of Korea (BOK) Gov. Kim Choong-soo said that changes in the U.S. monetary policy direction and market reactions could increase volatility in cross-border capital flows and price movements. "We should wisely cope with changes in global economic conditions related to the Federal Reserve's reduction of the monetary stimulus program," the governor said in a meeting with local financiers.