‘Yeuiju City’ in the Korean version of the possibility of a game stop… “Flocking behavior may become frequent”

Input 2021.02.02 08:41 | Revision 2021.02.02 09:11

The 1st Vice Minister of Strategy and Finance Kim Yong-beom said on the 2nd, “The situation surrounding some sports such as game stop is an example of increased market volatility, and we will pay close attention to the impact.” Gamestop is an American video game retailer. In the past week, gamestop stock prices soared 400% as individual investors gathered around the US online community Reddit declared war against hedge funds that sold short.

At a macroeconomic and financial conference held at the Seoul Bank Center on the 2nd, Kim Chi-gwan said, “In a digital transaction environment where a large number of market participants can easily access investment information in real time, such gang behavior may appear frequently and we will make every effort to ensure financial safety. “He said.

Vice Minister Kim also mentioned that global financial volatility is expanding. “Amid concerns over delays in vaccine supply in Europe, market volatility may increase depending on whether the stock price volatility of some U.S. stocks continues to expand, the trend of institutional investors such as hedge funds, and the trend of discussions in the US Congress on economic stimulus measures.” You have to pay special attention to trends,” he stressed.

He also pointed out that “the market participants are wary of the recent share price rise, such as the V-KOSPI200, an index that can measure the volatility of the domestic stock market, hit the highest level in 7 months.”

Vice Minister Kim plans to focus on financial support for vulnerable sectors. “IMF recently re-emphasized the role of the government to achieve continuous financial support to overcome the crisis and to achieve stability in the financial sector through the’Global Financial Stability Report (GFSR)’.” We will provide financial support to lead the recovery of people’s livelihoods by expanding the supply of policy financing for them.

Vice Minister Kim also ordered measures to stabilize prices on New Year’s Day. Deputy Minister Kim said, “In January, consumer prices increased slightly from the previous month due to a rise in agricultural and livestock prices due to sluggish cropping and the spread of avian influenza. For eggs showing a high trend in recent years, we will do our best to improve supply and demand by expanding imports through quota tariffs and discharging stockpiles.”