South Korea monitoring impact from Silicon Valley Bank crisis: Finance minister

SEOUL: South Korea’s finance minister said on Sunday (Mar 12) the country was closely monitoring any impact from the collapse of Silicon Valley Bank on South Korean markets.

Top financial officials met on Sunday to discuss the collapse, the biggest bank failure since the 2008 financial crisis, the finance ministry said in a statement.

The ministry said it would closely monitor the situation despite views from experts that the start-up-focused lender’s insolvency would not spill into other financial systems.

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