FROM THE OFFICE OF PUBLIC AFFAIRS

Treasury has been monitoring the situation in Korea very closely with the Federal Reserve, the International Monetary Fund, and others. We have also been in close contact with the Korean authorities over the last several weeks.

The United States and the entire international community share a strong interest in seeing Korea succeed in restoring financial stability and in strengthening the fundamentals that have provided the foundation for a long period of impressive economic performance.

We encourage the new economic team in Korea to move forward quickly to address the present challenges, in particular with forceful and effective action to strengthen the financial system.